Florida Florida Statutes
§ 215.475 — Investment policy statement
FS § 215.475Ch. 215
Statute text
View on source(1)In making investments for the System Trust Fund pursuant to ss. 215.44-215.53, the board shall make no investment which is not in conformance with the Florida Retirement System Defined Benefit Plan Investment Policy Statement, hereinafter referred to as “the IPS,” as developed by the executive director and approved by the board. The IPS must comply with s. 215.47(10) and include, among other items, the investment objectives of the System Trust Fund; permitted types of securities in which the board may invest; and evaluation criteria necessary to measure the investment performance of the fund. As required from time to time, the executive director of the board may present recommended changes in the IPS to the board for approval.
(2)Prior to any recommended changes in the IPS being presented to the board, the executive director of the board shall present such changes to the Investment Advisory Council for review. The council shall present the results of its review to the board prior to the board's final approval of the IPS or changes in the IPS. History.—s. 3, ch. 89-299; ss. 3, 4, ch. 90-192; s. requested. The annual review shall include:(1) The dollar amount of technology and growth investments in the state made by the board during the previous year ending June 30 and the investment's percentage share of the system trust fund's net assets.
(2)A list of investments in the state identified by the board as technology and growth investments within each asset class.
(3)An analysis of the direct and indirect economic benefits to the state resulting from the technology and growth investments.
Legislative history
s. 4, ch. 2008-31.