Florida State Board of Administration, Tallahassee, will push to amend a law requiring gubernatorial support for the SBA’s executive director. The law, passed earlier this year, requires the director be approved annually by the governor and one of the other two trustees. The new language, proposed as part of a clean-up bill for the state’s new defined contribution plan, would require only that two trustees approve the executive director annually. The cleanup bill could go to the state Legislature early next year. The executive director, currently Thomas Herndon, has no set term.
In a related event, Republican state Rep. Mike Fasano — who drafted this year’s defined contribution plan bill and backs a defined contribution plan that includes at least five bundled service providers — has stepped down as majority leader.
