H.B. 231 Re-marriage provision etc. IP: 72.185.171.1 Posted on June 19, 2011 at 03:20:37 PM by webmaster
In case you haven't heard yet, HB 231 was signed by the Governor on June 17th. This has the re-marriage provision, military buy-back, etc. A brief description of the bill is below.
City Pension Fund for Firefighters and Police Officers in the City of Tampa, Hillsborough County: Authorizes City of Tampa to enter into supplemental contract with certain firefighters & police officers to comply with ch. 2009-97, Laws of Florida; revises manner in which elective trustees are elected; increases maximum length of time prior to term commencement in which to conduct trustee elections; allows board to retain services of more than one nationally recognized professional investment counselor; increases investment cap on foreign securities; provides that investment cap on foreign securities is measured on market value basis & may not be revised, amended, increased, or repealed except as provided by general law; allows retired members to elect to receive reduced retirement benefit in order to provide surviving spouse benefit under certain circumstances; allows members to purchase up to an additional 5 years of credited service based upon prior service as full-time certified firefighter or certified police officer or for military service in U.S. Armed Forces subject to certain conditions; allows DROP participants upon entering DROP & annually thereafter to elect option for accruing annual interest at low-risk variable rate selected annually by board in lieu of rate reflecting fund's net investment performance as determined by board; prohibits members from selecting certain pension contract changes & rejecting others; confirms in part City of Tampa Firefighters & Police Officers Pension Contract; provides severability.