Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 1936
Barcode 393816
CHAMBER ACTION
Senate House
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11 The Committee on Community Affairs (Villalobos) recommended
12 the following amendment:
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14 Senate Amendment (with title amendment)
15 Delete everything after the enacting clause
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17 and insert:
18 Section 1. Paragraph (c) is added to subsection (9) of
19 section 121.0515, Florida Statutes, to read:
20 121.0515 Special risk membership.--
21 (9) CREDIT FOR UPGRADED SERVICE.--
22 (c) Any member of the Special Risk Class who has
23 earned creditable service in the Regular Class of the Florida
24 Retirement System between July 1, 1978, and June 30, 1984,
25 while attending a certified training academy or other
26 certified training facility approved by the employer for
27 certification as a law enforcement officer or correctional
28 officer, which service is within the purview of the Special
29 Risk Class, may purchase such service to upgrade to Special
30 Risk Class service to the extent of the percentages of the
31 member's average final compensation as provided in s.
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7:49 AM 04/24/06 s1936d-ca38-t01
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 1936
Barcode 393816
1 121.091(1)(a)2. Contributions for upgrading such service to
2 Special Risk Class credit under this paragraph shall be equal
3 to the difference in the contributions paid and the Special
4 Risk Class contribution rate as a percentage of gross salary
5 in effect for the period being claimed plus interest thereon
6 at the rate of 6.5 percent per year, compounded annually until
7 the date of payment. This service credit may be purchased by
8 the employer on behalf of the member.
9 Section 2. The Legislature finds that a proper and
10 legitimate state purpose is served when employees and retirees
11 of the state and its political subdivisions, and the
12 dependents, survivors, and beneficiaries of such employees and
13 retirees, are extended the basic protections afforded by
14 governmental retirement systems. These persons must be
15 provided benefits that are fair and adequate and that are
16 managed, administered, and funded in an actuarially sound
17 manner, as required by s. 14, Art. X of the State
18 Constitution, and part VII of chapter 112, Florida Statutes.
19 Therefore, the Legislature determines and declares that this
20 act fulfills an important state interest.
21 Section 3. This act shall take effect upon becoming a
22 law.
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26 And the title is amended as follows:
27 Delete everything before the enacting clause
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29 and insert:
30 A bill to be entitled
31 An act relating to the Florida Retirement
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7:49 AM 04/24/06 s1936d-ca38-t01
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. SB 1936
Barcode 393816
1 System; amending s. 121.0515, F.S.; authorizing
2 certain employees to purchase additional
3 retirement credit to upgrade prior service to
4 Special Risk Class service; providing for the
5 calculation of contributions for such service
6 upgrade; authorizing the employer to purchase
7 such additional credit for the employee;
8 providing a statement of important state
9 interest; providing an effective date.
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