Florida Administrative Code
60 - DEPARTMENT OF MANAGEMENT SERVICES
60T - Division of Retirement - Local Retirement
Chapter 60T-1 - LOCAL RETIREMENT SYSTEMS
Section 60T-1.007 - Funding

Universal Citation: FL Admin Code R 60T-1.007

Current through Reg. 50, No. 187; September 24, 2024

(1) Employee contributions shall be deposited into the retirement system or plan not less frequently than monthly.

(2) Employer contributions shall be deposited into the retirement system or plan not less frequently than quarterly.

(3) Any payment for retroactive contribution rate increases shall be deposited into the retirement system or plan on or before the date such payment is due.

(4) Any revenues received from any source by an employer for allocation to a retirement system or plan shall be deposited into such system or plan not later than 30 days from receipt by the employer.

(5) Administrative expenses, annual funding costs, and contribution rate increases shall be funded in accordance with subsections 60T-1.003(8) through (10) and 60T-1.004(4), F.A.C.

Rulemaking Authority 112.665(1) FS. Law Implemented 112.61, 112.64 FS.

New 11-14-91, Formerly 22D-1.007.

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