HB 495

A bill to be entitled
2An act relating to the State University System
3optional retirement program; amending s. 121.35, F.S.;
4increasing to no more than six the number of companies
5from which contracts may be purchased under the
6program; providing an effective date.
8Be It Enacted by the Legislature of the State of Florida:
10     Section 1.  Paragraph (b) of subsection (6) of section
11121.35, Florida Statutes, is amended to read:
12     121.35  Optional retirement program for the State
13University System.-
15     (b)  After receiving and considering the recommendations of
16the Board of Governors of the State University System, the
17department shall designate no more than six five companies from
18which contracts may be purchased under the program and shall
19approve the form and content of the optional retirement program
20contracts. Any domestic company that has been designated as of
21July 1, 2005, shall be included in the six five companies until
22expiration of its existing contract with the department. The
23domestic company may assign its contract with the department to
24an affiliated qualified company that is wholly owned by the
25domestic company's parent company and has assumed 100 percent of
26the responsibility for the contracts purchased from the domestic
28     Section 2.  This act shall take effect July 1, 2012.

CODING: Words stricken are deletions; words underlined are additions.