FL S1352

Limits contracts with investment providers and recordkeepers for local deferred compensation programs to a maximum 5-year term, with public officials required to initiate a public bid before each contract expires.

Prohibits program administrators and others involved in selecting investment providers or recordkeepers from participating in the selection process if they had any direct interest in contracts or benefits from those providers in the preceding 2 years.

Requires deferred compensation program administrators to comply with fiduciary standards established under the Employee Retirement Income Security Act of 1974, 29 U.S.C. s. 1104(a)(1)(A)-(C).

Authorizes counties, municipalities, political subdivisions, and constitutional county officers to establish an oversight committee to evaluate plan administrator performance and provide recommendations on plan administration and investment options.

Takes effect July 1, 2015, and does not impair existing contracts.