1. (1) By December 15 of each odd-numbered year, each Local Retirement System or Plan shall submit a

   comprehensive report to the Division which shall include:

   a. A detailed description of the Local Retirement System or Plan’s governance policies concerning decision-making in vote decisions; and

   b. A review of adherence to the fiduciary standards required in section 112.662, F.S., including the exercise of shareholder rights, since the previous comprehensive report submission.

2. (2) The comprehensive report shall be saved in a portable document format (.pdf) file and submitted electronically via the Division’s online web portal https://frs.fl.gov/#/local-retirement/comprehensive-report created for this purpose. At the time of submission of the report, the Local Retirement System or Plan shall indicate if it has complied with all the requirements set forth in section 112.662, F.S.

Rulemaking Authority 112.662 FS. Law Implemented 112.662 FS. History–New 12-25-23.