Florida Senate - 2012                                     SB 198
       By Senator Thrasher
       8-00277-12                                             2012198__
    1                        A bill to be entitled                      
    2         An act relating to the State University System
    3         optional retirement program; amending s. 121.35, F.S.;
    4         increasing to no more than six the number of companies
    5         from which contracts may be purchased under the
    6         program; providing an effective date.
    8  Be It Enacted by the Legislature of the State of Florida:
   10         Section 1. Paragraph (b) of subsection (6) of section
   11  121.35, Florida Statutes, is amended to read:
   12         121.35 Optional retirement program for the State University
   13  System.—
   15         (b) After receiving and considering the recommendations of
   16  the Board of Governors of the State University System, the
   17  department shall designate no more than six five companies from
   18  which contracts may be purchased under the program and shall
   19  approve the form and content of the optional retirement program
   20  contracts. Any domestic company that has been designated as of
   21  July 1, 2005, shall be included in the six five companies until
   22  expiration of its existing contract with the department. The
   23  domestic company may assign its contract with the department to
   24  an affiliated qualified company that is wholly owned by the
   25  domestic company’s parent company and has assumed 100 percent of
   26  the responsibility for the contracts purchased from the domestic
   27  company.
   28         Section 2. This act shall take effect July 1, 2012.