FL H1163

Authorizes the City of Tampa to enter supplemental contracts with firefighters and police officers to comply with chapter 2009-97, Laws of Florida.

Changes trustee election procedures by replacing "meetings" with "elections" and extends the maximum time frame for conducting elections from 30 to 60 days prior to term commencement.

Allows the board to retain services of multiple nationally recognized professional investment counselors and increases the investment cap on foreign securities from 10% to 25% of the fund, with restrictions on future amendments except by general law.

Permits retired members who remarried after retirement to elect a voluntarily reduced retirement benefit to provide surviving spouse benefits, subject to specified conditions including spouse age difference limits and a three-year marriage requirement.

Allows DROP (Deferred Retirement Option Program) participants to elect annually between two investment options: the fund's net investment performance rate or a low-risk variable rate selected by the board.