State Required Disclosures
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FLORIDA DEPARTMENT OF MANAGEMENT SERVICES REQUIRED PENSION FACT SHEET
The Department of Management Services’ Division of Retirement monitors Florida’s local government pension plans for actuarially sound funding under Part VII of Chapter 112, Florida Statutes.
The fact sheet summarizes basic information about the pension plan and is prepared in accordance with section 112.665(1)(e), Florida Statutes, and include the following information:
- The plan’s actuarial status
- The most current actuarial and benefit data
- The minimum funding requirements as a percentage of pay
- A five-year history of funded ratios
- A comparison to the average of other Florida local government pension plans
- A brief explanation of each element presented to maximize the transparency of the local government plan