SENATE AMENDMENT

    Bill No. CS for SB 380

    Amendment No. 4

                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Ways and Means recommended the following

12  amendment:

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14         Senate Amendment (with title amendment) 

15         On page 24, between lines 8 and 9,

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17  insert:

18         Section 10.  Subsection (5) of section 121.30, Florida

19  Statutes, is amended to read:

20         121.30  Statements of purpose and intent and other

21  provisions required for qualification under the Internal

22  Revenue Code of the United States.--Any other provisions in

23  this chapter to the contrary notwithstanding, it is

24  specifically provided that:

25         (5)  No benefit payable hereunder for any limitation

26  year shall exceed the maximum amount, including cost-of-living

27  adjustments, allowable by law for qualified pension plans

28  under applicable provisions of the Internal Revenue Code of

29  the United States. In the event of any participation of a

30  Florida Retirement System member in any other plan that is

31  maintained by the participating employer, benefits that accrue

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 380

    Amendment No. 4





 1  under the Florida Retirement System shall be considered

 2  "primary" for any aggregate limitation applicable under

 3  Internal Revenue Code Section 415.

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 5  [Renumber subsequent section(s).]

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 8  ================ T I T L E   A M E N D M E N T ===============

 9  And the title is amended as follows:

10         On page 1, line 30, after the semicolon

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12  insert:

13         amending s. 121.30, F.S.; designating that

14         benefits accruing during limitation periods

15         under Internal Revenue Code Section 415, the

16         Florida Retirement System shall be considered

17         "primary";

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