Florida House Bill 1499 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Partisan Bill (Republican 1)
Status: Failed on March 9 2012 - 100% progression
Action: 2012-03-09 - Died in Government Operations Subcommittee
Text: Latest bill text (Introduced) [PDF]

Provides frequency of actuarial reports for retirement systems & plans placed on pension watch list; defines term "funded ratio"; creates pension watch list for retirement & pension plans failing to achieve specified funded ratio; provides strategic requirements for local governmental entities on pension watch list; provides when certain local governmental entities must implement their strategies; prohibits plans on pension watch list from increasing plan benefit levels; requires plans on pension watch list to use certain tax revenues for certain purposes until funded ratio for plan reaches certain percentage; provides for removal of plans from pension watch list; provides that sponsor of local governmental entity with defined benefit pension plan meeting specified requirements shall be deemed to be in financial urgency.

Actuarial Soundness of Retirement Systems

Sen. Jeffrey Brandes [R]

Date	Chamber	Action
2012-03-09		Died in Government Operations Subcommittee
2012-01-19		Introduced -HJ 230
2012-01-19		Referred to Government Operations Subcommittee; Finance and Tax Committee; State Affairs Committee -HJ 230
2012-01-18		Filed

Chapter	Article	Section	Citation Type	Statute Text
112	63		Amended Code	See Bill Text
447	4095		Amended Code	See Bill Text

Type	Source
Summary	http://www.flsenate.gov/Session/Bill/2012/1499
Text	http://www.flsenate.gov/Session/Bill/2012/1499/BillText/Filed/PDF