(1) The division shall be responsible for the daily oversight and monitoring for actuarial soundness of the firefighters’ pension plans, whether chapter or local law plans, established under this chapter, for receiving and holding the premium tax moneys collected under this chapter, and, upon determining compliance with the provisions of this chapter, for disbursing those moneys to the firefighters’ pension plans. The funds necessary to pay expenses for such administration shall be annually appropriated from the interest and investment income earned on moneys deposited in the trust fund.
(2) The State Board of Administration shall invest and reinvest the moneys in the trust fund collected under this chapter in accordance with ss. 215.44-215.53. Costs incurred by the board in carrying out the provisions of this subsection shall be deducted from the interest and investment income accruing to the trust fund.
History.—s. 1, ch. 63-249; ss. 13, 35, ch. 69-106; s. 36, ch. 93-193; s. 3, ch. 95-250; s. 11, ch. 98-200; s. 34, ch. 99-1; s. 48, ch. 2012-116.
Structure Florida Statutes
Chapter 175 - Firefighter Pensions
175.021 - Legislative Declaration.
175.041 - Firefighters’ Pension Trust Fund Created; Applicability of Provisions.
175.051 - Actuarial Deficits Not State Obligation.
175.071 - General Powers and Duties of Board of Trustees.
175.081 - Use of Annuity or Insurance Policies.
175.091 - Creation and Maintenance of Fund.
175.101 - State Excise Tax on Property Insurance Premiums Authorized; Procedure.
175.1015 - Determination of Local Premium Tax Situs.
175.1215 - Police and Firefighters’ Premium Tax Trust Fund.
175.122 - Limitation of Disbursement.
175.141 - Payment of Excise Tax Credit on Similar State Excise or License Tax.
175.151 - Penalty for Failure of Insurers to Comply With This Act.
175.162 - Requirements for Retirement.
175.171 - Optional Forms of Retirement Income.
175.191 - Disability Retirement.
175.201 - Death Prior to Retirement; Refunds of Contributions; Death Benefits.
175.211 - Separation From Service; Refunds.
175.221 - Lump-Sum Payment of Small Retirement Income.
175.231 - Diseases of Firefighters Suffered in Line of Duty; Presumption.
175.241 - Exemption From Tax and Execution.
175.261 - Annual Report to Division of Retirement; Actuarial Valuations.
175.301 - Depository for Pension Funds.
175.311 - Municipalities, Special Fire Control Districts, and Boards Independent of Each Other.
175.361 - Termination of Plan and Distribution of Fund.
175.371 - Transfer to Another State Retirement System; Benefits Payable.