FL S2274

Clarifies that Part VII of Chapter 112, Florida Statutes (actuarial soundness requirements) applies to all public employee retirement systems, not just state systems.

Expands the definition of entities subject to retirement system standards to include all state, county, special district, and municipal government units that operate retirement systems funded with public funds.

Requires local retirement system investment policies to list authorized investments, with unlisted investments prohibited, and subjects local systems to the same investment limitations as state retirement systems under section 215.47.

Establishes minimum standards for operation and funding of all public employee retirement systems to prevent transferring current pension costs to future taxpayers.

Effective date: July 1, 2010.