Sen. Ted Deutch, "very disappointed" that the governor and attorney general on Tuesday didn't advance CFO Alex Sink's proposal to expand and better train the SBA trustees, said today he will file legislation to "expand the scope" of the SBA.
But he stopped short of supporting a bigger board of trustees, which now consists of just the governor, AG and CFO. Sink wants the trustees to grow by at least two people. His legislation, which has failed in past sessions, would instead expand the SBA's Investment Advisory Council from 6 to 9 members. Each member would be required to have financial knowledge and experience, and must represent local government employees, firefighters, police, teachers and state employees, and Florida Retirement System retirees.
“CFO Sink has worked to increase transparency, accountability and oversight of Florida’s pension fund since coming into office and yesterday’s reforms were just the latest example," said Deutch, D-Boca Raton. "My legislation aims to support these important priorities by giving a greater voice to investors and retirees, ensuring the highest level of integrity and eliminating any potential conflicts of interests.”