FL H1353

Revises legislative intent to establish minimum standards for operation and funding of all public employee retirement systems and plans, emphasizing protection of benefits and equitable funding by current and future taxpayers.

Expands application of the Florida Protection of Public Employee Retirement Benefits Act to apply to all units, agencies, branches, departments, boards, and institutions of state, county, special district, and municipal governments that operate retirement systems or plans.

Removes authorization allowing local retirement systems to deviate from state investment limitations through local law or ordinance, requiring all covered local retirement systems to comply with specific limitations and conditions in section 215.47.

Includes a severability clause stating that if any provision is held invalid, it does not affect other provisions of the act.

Takes effect upon becoming law.