Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. SB 302
                        Barcode 983426
                            CHAMBER ACTION
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11  The Committee on Governmental Oversight and Productivity
12  (Sebesta) recommended the following amendment:
13  
14         Senate Amendment (with title amendment) 
15         On page 2, between lines 21 and 22,
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17  insert:  
18         Section 2.  Effective July 1, 2005, in order to fund
19  the benefits provided under section 1 of this act:
20         (1)  The contribution rate that applies to the Regular
21  Class of the Florida Retirement System shall be increased by
22  .16 percentage points;
23         (2)  The contribution rate that applies to the Special
24  Risk Class of the Florida Retirement System shall be increased
25  by .45 percentage points;
26         (3)  The contribution rate that applies to the Special
27  Risk, Administrative Support Class of the Florida Retirement
28  System shall be increased by .25 percentage points;
29         (4)  The contribution rate that applies to the Judicial
30  Officers' Subclass of the Elected Officers' Class of the
31  Florida Retirement System shall be increased by .17 percentage
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    11:18 AM   04/25/05                             s0302.go16.0aa

Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. SB 302 Barcode 983426 1 points; 2 (5) The contribution rate that applies to the 3 Legislative-Attorney-Cabinet Officers' Subclass of the Florida 4 Retirement System shall be increased by .16 percentage points; 5 (6) The contribution rate that applies to the county 6 officers' subclass of the Elected Officers' Class of the 7 Florida Retirement System shall be increased by .23 percentage 8 points; and 9 (7) The contribution rate that applies to the Senior 10 Management Class of the Florida Retirement System shall be 11 increased by .17 percentage points. 12 These increases shall be in addition to all other 13 changes to the contribution rate which may be enacted into law 14 to take effect on that date. The Division of Statutory 15 Revision is directed to adjust accordingly the contribution 16 rate set forth in s. 121.071, Florida Statutes. 17 Section 3. The Legislature finds that a proper and 18 legitimate state purpose is served when employees and retirees 19 of the state and of its political subdivisions, and the 20 dependents, survivors, and beneficiaries of such employees and 21 retirees, are extended the basic protections afforded by 22 governmental retirement systems that provide fair and adequate 23 benefits that are managed, administered, and funded in an 24 actuarially sound manner, as required by Section 14, Article X 25 of the State Constitution and part VII of chapter 112, Florida 26 Statutes. Therefore, the Legislature determines and declares 27 that this act fulfills an important state interest. 28 29 (Redesignate subsequent sections.) 30 31 2 11:18 AM 04/25/05 s0302.go16.0aa
Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. SB 302 Barcode 983426 1 ================ T I T L E A M E N D M E N T =============== 2 And the title is amended as follows: 3 On page 1, line 7, after the semicolon 4 5 insert: 6 increasing the contribution rates paid by 7 member employers in the Florida Retirement 8 System; directing te Division of Statutory 9 Revision to adjust the contribution rates; 10 providing a declaration of important state 11 interest; 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 11:18 AM 04/25/05 s0302.go16.0aa