Florida Regulations 60T-1.007: Funding
Current as of: 2024 | Check for updates
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(1) Employee contributions shall be deposited into the retirement system or plan not less frequently than monthly.
(2) Employer contributions shall be deposited into the retirement system or plan not less frequently than quarterly.
(3) Any payment for retroactive contribution rate increases shall be deposited into the retirement system or plan on or before the date such payment is due.
(4) Any revenues received from any source by an employer for allocation to a retirement system or plan shall be deposited into such system or plan not later than 30 days from receipt by the employer.
(5) Administrative expenses, annual funding costs, and contribution rate increases shall be funded in accordance with subsections 60T-1.003(8) through (10) and 60T-1.004(4), F.A.C.
Rulemaking Authority Florida Statutes § 112.665(1). Law Implemented 112.61, 112.64 FS. History-New 11-14-91, Formerly 22D-1.007.
(2) Employer contributions shall be deposited into the retirement system or plan not less frequently than quarterly.
(3) Any payment for retroactive contribution rate increases shall be deposited into the retirement system or plan on or before the date such payment is due.
(4) Any revenues received from any source by an employer for allocation to a retirement system or plan shall be deposited into such system or plan not later than 30 days from receipt by the employer.
(5) Administrative expenses, annual funding costs, and contribution rate increases shall be funded in accordance with subsections 60T-1.003(8) through (10) and 60T-1.004(4), F.A.C.
Rulemaking Authority Florida Statutes § 112.665(1). Law Implemented 112.61, 112.64 FS. History-New 11-14-91, Formerly 22D-1.007.