FL S0754

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

Increases the maximum time period for conducting trustee elections from 30 days to 60 days prior to term commencement and allows the board to retain multiple nationally recognized investment counselors instead of just one.

Increases the investment cap on foreign securities from 10% to 25% of the fund and prohibits any future revision, amendment, increase, or repeal of this cap except through general law.

Allows retired members who married or remarried after retirement to elect a reduced retirement benefit to provide a surviving spouse benefit, subject to conditions including a maximum 20-year age difference and a 3-year minimum marriage duration.

Permits active firefighters and police officers to purchase up to 5 additional years of credited service based on prior full-time certified service or military service in the Armed Forces, and allows DROP participants to annually elect between two interest accrual options.