FL S1212

Employees of the State Board of Administration or its trustees with authority to make or recommend investments are prohibited from working for investment firms that do business with the board for 3 years after retirement or termination

The State Board of Administration's executive director may waive the 3-year postemployment restriction in writing if a position is eliminated and the waiver serves the best interests of the state

Former employees who violate the postemployment restriction are subject to penalties under Florida Statute 112.317

The State Board of Administration or its trustee must report to the Office of the Chief Financial Officer the identity of each restricted former employee and their employment termination date within 15 days of termination

The act takes effect July 1, 2012