SENATE AMENDMENT

    Bill No. CS/CS/CS/HB 3075, 1st Eng.

    Amendment No.    

                            CHAMBER ACTION
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11  Senator Myers moved the following amendment:

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13         Senate Amendment 

14         On page 140, line 26, through page 141, line 15, delete

15  those lines

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17  and insert:

18         175.411  Optional participation.--A municipality or

19  special fire control district may revoke its participation

20  under this chapter by legislative act, local ordinance, or

21  resolution stating that future members shall not be covered

22  under the minimum benefits or standards of this chapter and by

23  furnishing a certified copy of such legislative act,

24  ordinance, or resolution to the division. The municipality or

25  special fire control district shall continue to be eligible to

26  receive state premium tax moneys for the existing plan until

27  it is fully funded. As used in this section, the term "fully

28  funded" means that the present value of all benefits, accrued

29  and projected, is less than the available assets and the

30  present value of future member contributions and future plan

31  sponsor contributions on an actuarial entry age cost funding

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                                                  SENATE AMENDMENT

    Bill No. CS/CS/CS/HB 3075, 1st Eng.

    Amendment No.    





 1  basis. State premium tax moneys shall not be used to provide

 2  benefits for members hired after the municipality or special

 3  fire control district revokes participation under this

 4  chapter. Premium tax moneys previously received shall continue

 5  to be used for the sole and exclusive benefit of firefighters,

 6  or firefighters and police officers where included, and no

 7  amendment, legislative act, ordinance, or resolution shall be

 8  adopted that has the effect of reducing the then-vested

 9  accrued benefits of the firefighters, retirees, or their

10  beneficiaries. The municipality or special fire control

11  district shall continue to furnish an annual report to the

12  division as provided in s. 175.261. If the municipality or

13  special fire control district subsequently terminates the

14  defined benefit plan, it must do so in compliance with s.

15  175.361.

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