Fla. Admin. Code Ann. R. 60T-1.001 - Scope and Purpose
(1) This chapter
sets forth the rules under which municipal and special district units of
government are to provide information on their retirement systems to the
Division pursuant to Part VII of Chapter 112, F.S. The provisions of this
chapter shall be applicable to all municipal governments and special districts
(or agencies and instrumentalities thereof) which operate or administer a
retirement system or plan for public employees funded in whole or in part by
public funds. This chapter shall not apply to municipalities or special
districts with respect to any of their employees which participate as a covered
group in the Florida Retirement System.
(2) The objectives of this chapter are to
clarify the implementation of Part VII, Chapter 112, F.S., so that governmental
retirement systems may be managed, administered, operated, and funded in such
manner as to maximize the protection of public employee retirement benefits.
The pension liabilities attributable to the benefits promised public employees
are fairly, orderly, and equitably funded by the current, as well as future,
taxpayers. Accordingly, except as herein provided, these rules prohibit the use
of any procedure, methodology, or assumptions, the effect of which is to
transfer to future taxpayers any portion of the costs which may reasonably be
expected to be paid by the current taxpayers.
Notes
Rulemaking Authority 112.665(1) FS. Law Implemented 112.63 FS.
New 5-6-81, Amended 9-19-83, Formerly 22D-1.01, Amended 11-14-91, Formerly 22D-1.001, Amended 7-16-15.
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