(1) The division shall be responsible for the daily oversight and monitoring for actuarial soundness of the municipal police officers’ retirement 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 municipal police officers’ retirement plans. The funds to pay the 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 in accordance with ss. 215.44-215.53. Costs incurred by the board in carrying out the provisions of this section shall be deducted from the interest and investment income accruing to the trust fund.
History.—s. 20, ch. 28230, 1953; ss. 13, 35, ch. 69-106; s. 45, ch. 93-193; s. 7, ch. 95-250; s. 13, ch. 98-200; s. 65, ch. 99-1; s. 30, ch. 2000-151; s. 50, ch. 2012-116.
Structure Florida Statutes
Chapter 185 - Municipal Police Pensions
185.01 - Legislative Declaration.
185.04 - Actuarial Deficits Not State Obligations.
185.06 - General Powers and Duties of Board of Trustees.
185.061 - Use of Annuity or Insurance Policies.
185.07 - Creation and Maintenance of Fund.
185.08 - State Excise Tax on Casualty Insurance Premiums Authorized; Procedure.
185.085 - Determination of Local Premium Tax Situs.
185.09 - Report of Premiums Paid; Date Tax Payable.
185.105 - Police and Firefighters’ Premium Tax Trust Fund.
185.11 - Funds Received by Municipalities, Deposit in Retirement Trust Fund.
185.12 - Payment of Excise Tax Credit on Similar State Excise or License Tax.
185.13 - Failure of Insurer to Comply With Chapter; Penalty.
185.16 - Requirements for Retirement.
185.161 - Optional Forms of Retirement Income.
185.18 - Disability Retirement.
185.19 - Separation From Municipal Service; Refunds.
185.191 - Lump-Sum Payment of Small Retirement Income.
185.21 - Death Prior to Retirement; Refunds of Contributions or Payment of Death Benefits.
185.221 - Annual Report to Division of Retirement; Actuarial Valuations.
185.25 - Exemption From Tax and Execution.
185.30 - Depository for Retirement Fund.
185.31 - Municipalities and Boards Independent of Other Municipalities and Boards and of Each Other.
185.34 - Disability in Line of Duty.
185.35 - Municipalities That Have Their Own Retirement Plans for Police Officers.
185.37 - Termination of Plan and Distribution of Fund.
185.38 - Transfer to Another State Retirement System; Benefits Payable.