FL H0495

Increases the maximum number of companies authorized to provide optional retirement program contracts to State University System participants from five to six companies.

Requires the department to conduct a competitive procurement process when designating an additional provider company beyond those already contracted as of July 1, 2005.

Allows a domestic company to assign its contract to an affiliated qualified company that is wholly owned by the domestic company's parent company and assumes 100 percent of contract responsibility.

Designations for additional provider companies are effective only until December 31, 2014; all companies seeking designations effective January 1, 2015 or later must participate in a separate competitive procurement.

Takes effect upon becoming law.