Florida Senate - 2012                              CS for SB 198
       By the Committee on Governmental Oversight and Accountability;
       and Senator Thrasher
       585-01514-12                                           2012198c1
    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 a procurement process for
    7         additional provider companies; providing an effective
    8         date.
   10  Be It Enacted by the Legislature of the State of Florida:
   12         Section 1. Paragraph (b) of subsection (6) of section
   13  121.35, Florida Statutes, is amended, and subsection (7) is
   14  added to that section, to read:
   15         121.35 Optional retirement program for the State University
   16  System.—
   18         (b) After receiving and considering the recommendations of
   19  the Board of Governors of the State University System, the
   20  department shall designate no more than six five companies from
   21  which contracts may be purchased under the program and shall
   22  approve the form and content of the optional retirement program
   23  contracts. Any domestic company that has been designated as of
   24  July 1, 2005, shall be included in the six five companies until
   25  expiration of its existing contract with the department. The
   26  domestic company may assign its contract with the department to
   27  an affiliated qualified company that is wholly owned by the
   28  domestic company’s parent company and has assumed 100 percent of
   29  the responsibility for the contracts purchased from the domestic
   30  company.
   31         (7) PROCUREMENT OF ADDITIONAL PROVIDERS.—If the department
   32  chooses to designate an additional provider company from which
   33  contracts may be purchased under the program as provided in
   34  paragraph (6)(b), the department shall conduct a competitive
   35  procurement and the designation of the additional provider is
   36  effective from July 1, 2012, until December 31, 2014. All
   37  companies seeking a designation that is effective on or after
   38  January 1, 2015, shall participate together in a separate
   39  competitive procurement conducted by the department for the
   40  purpose of selecting the total number of provider companies
   41  authorized in paragraph (6)(b) and deemed reasonable and prudent
   42  by the department.
   43         Section 2. This act shall take effect upon becoming a law.