175.091  Creation and maintenance of fund.--

(1)  The firefighters' pension trust fund in each municipality and in each special fire control district shall be created and maintained in the following manner:

(a)  By payment to the fund of the net proceeds of the 1.85-percent excise or other similar tax which may be imposed by the municipality or special fire control district upon fire insurance companies, fire insurance associations, or other property insurers on their gross receipts on premiums from holders of policies, which policies cover real or personal property within the corporate limits of such municipality, in the case of a municipal government, and within the legally defined jurisdiction of the district, in the case of a special fire control district. Whenever a municipality maintains a firefighters' pension trust fund under the provisions of this chapter but is partially contained within the boundaries of a special fire control district, that portion of the 1.85-percent excise, license, or other similar tax which is collected for insurance policies covering property within the jurisdiction of both the municipality and the special fire control district shall be given to the firefighters' pension trust fund of the fire service provider. Remaining revenues collected pursuant to this chapter shall be distributed to the municipality or special fire control district according to the location of the insured property.

(b)  By the payment to the fund of 5 percent of the salary of each uniformed firefighter who is a member or duly enrolled in the fire department of any municipality or special fire control district, which 5 percent shall be deducted by the municipality or special fire control district from the compensation due to the firefighter and paid over to the board of trustees of the firefighters' pension trust fund wherein such firefighter is employed. A firefighter participating in the old age survivors insurance of the federal Social Security Law may limit his or her contribution to the firefighters' pension trust fund to 3 percent of his or her annual compensation and receive reduced benefits as set forth in ss. 175.191(5) and 175.211. No firefighter shall have any right to the money so paid into the fund except as provided in this chapter.

(c)  By all fines and forfeitures imposed and collected from any firefighter because of the violation of any rule and regulation promulgated by the board of trustees.

(d)  By mandatory payment by the municipality or special fire control district of a sum equal to the normal cost and the amount required to fund over a period of 40 years or on a 40-year basis, any actuarial deficiency shown by a quinquennial actuarial valuation. The first such actuarial valuation shall be conducted for the calendar year ending December 31, 1967.

(e)  By all gifts, bequests, and devises when donated to the fund.

(f)  By all accretions to the fund by way of interest or dividends on bank deposits, or otherwise.

(g)  By all other sources or income now or hereafter authorized by law for the augmentation of such firefighters' pension trust fund.

(2)  Under no circumstances may a municipality or special fire control district reduce the member contribution to less than 1 percent of salary.