FL S2106

Allows municipalities with closed police pension plans (fewer than five active members due to service transfer or merger) to advance funds to purchase annuity contracts covering the plan's accrued liabilities.

Permits the board of trustees (approved by plan members) to authorize repayment of the advanced payment using future premium tax revenues.

Specifies that plans cannot be deemed fully funded until the municipality receives complete repayment of the advanced costs.

Allows continued use of premium tax revenues for providing additional benefits to active or retired police officers after the annuity advance is repaid.

Takes effect July 1, 2010.