Senate Bill 1950
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1950
By Senator Burt
16-1233-98
1 A bill to be entitled
2 An act relating to retirement; amending s.
3 121.1122, F.S.; authorizing members of the
4 Florida Retirement System to purchase credit
5 for certain in-state service in nonpublic
6 educational institutions; providing an
7 effective date.
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9 Be It Enacted by the Legislature of the State of Florida:
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11 Section 1. Section 121.1122, Florida Statutes, is
12 amended to read:
13 121.1122 Purchase of retirement credit for in-state
14 public service and in-state service in accredited nonpublic,
15 nonsectarian schools and colleges, including charter
16 schools.--Effective January 1, 1998, a member of the Florida
17 Retirement System may purchase creditable service for periods
18 of certain public or nonpublic, nonsectarian employment
19 performed in this state, as provided in this section.
20 (1) PURCHASE OF RETIREMENT CREDIT AUTHORIZED.--Subject
21 to the provisions of subsections (2) and (3), a member of the
22 Florida Retirement System may purchase up to 5 years of
23 retirement credit for:
24 (a) Periods of public employment in this state; or
25 (b) Periods of employment in charter schools or in any
26 nonpublic, nonsectarian school or college in this state that
27 is accredited by the Southern Association of Colleges and
28 Schools.
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Florida Senate - 1998 SB 1950
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1 Credit for 1 year of such service may be purchased for each
2 year of creditable service a member completes under the
3 Florida Retirement System.
4 (2) LIMITATIONS AND CONDITIONS.--
5 (a) A member is not eligible to receive credit for
6 in-state service under this section until he or she has
7 completed 10 years of creditable service under the Florida
8 Retirement System, excluding service purchased under this
9 section and out-of-state service claimed and purchased under
10 s. 121.1115.
11 (b) A member may not purchase and receive credit for
12 more than 5 years of creditable service aggregated under the
13 provisions of this section and s. 121.1115.
14 (c) Service credit claimed under this section shall be
15 credited only as service in the Regular Class of membership
16 and shall be subject to the provisions of s. 112.65.
17 (d) A member shall be eligible to receive service
18 credit for in-state service performed after leaving the
19 Florida Retirement System only upon returning to membership
20 and completing at least 1 year of creditable service in the
21 Florida Retirement System following the in-state service.
22 (e) The service claimed must have been service covered
23 by a retirement or pension plan provided by the employer.
24 (3) COST.--The cost to purchase retirement credit
25 under this section shall be calculated in the same manner as
26 set forth in s. 121.1115(2) for purchase of credit for
27 out-of-state service.
28 Section 2. This act shall take effect upon becoming a
29 law.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 1998 SB 1950
16-1233-98
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2 SENATE SUMMARY
3 Authorizes members of the Florida Retirement System to
purchase credit for in-state service in accredited
4 nonpublic schools and colleges, without regard to whether
the school or college is sectarian or nonsectarian.
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