Senate Bill 1184

CODING: Words stricken are deletions; words underlined are additions.



    Florida Senate - 1999                                  SB 1184

    By Senator Mitchell





    4-1142-99                                               See HB

  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

  3         System; amending ss. 121.021 and 121.052, F.S.;

  4         providing that members in the system shall be

  5         vested after 5 years of creditable service;

  6         providing an effective date.

  7

  8  Be It Enacted by the Legislature of the State of Florida:

  9

10         Section 1.  Subsection (29) of section 121.021, Florida

11  Statutes, 1998 Supplement, is amended to read:

12         121.021  Definitions.--The following words and phrases

13  as used in this chapter have the respective meanings set forth

14  unless a different meaning is plainly required by the context:

15         (29)  "Normal retirement date" means the first day of

16  any month following the date a member attains one of the

17  following statuses:

18         (a)  If a Regular Class member, the member:

19         1.  Completes 5 10 or more years of creditable service

20  and attains age 62; or

21         2.  Completes 30 years of creditable service,

22  regardless of age, which may include a maximum of 4 years of

23  military service credit as long as such credit is not claimed

24  under any other system.

25         (b)  If a Special Risk Class member, the member:

26         1.  Completes 5 10 or more years of creditable service

27  in the Special Risk Class and attains age 55;

28         2.  Completes 25 years of creditable service in the

29  Special Risk Class, regardless of age; or

30         3.  Completes 25 years of creditable service and

31  attains age 52, which service may include a maximum of 4 years

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                  SB 1184
    4-1142-99                                               See HB




  1  of military service credit as long as such credit is not

  2  claimed under any other system and the remaining years are in

  3  the Special Risk Class.

  4         (c)  If a Senior Management Service Class member, the

  5  member:

  6         1.  Completes 5 7 years of creditable service in the

  7  Senior Management Service Class and attains age 62; or

  8         2.  Completes 30 years of any creditable service,

  9  regardless of age, which may include a maximum of 4 years of

10  military service credit as long as such credit is not claimed

11  under any other system.

12         (d)  If an Elected State County Officers' Class member,

13  the member:

14         1.  Completes 5 8 years of creditable service in the

15  Elected State and County Officers' Class and attains age 62;

16  or

17         2.  Completes 30 years of any creditable service,

18  regardless of age, which may include a maximum of 4 years of

19  military service credit as long as such credit is not claimed

20  under any other system.

21

22  "Normal retirement age" is attained on the "normal retirement

23  date."

24         Section 2.  Subsection (8) of section 121.052, Florida

25  Statutes, 1998 Supplement, is amended to read:

26         121.052  Membership class of elected officers.--

27         (8)  NORMAL RETIREMENT DATE; VESTING REQUIREMENT.--A

28  member of the Elected State and County Officers' Class shall

29  have the same normal retirement date as defined in s.

30  121.021(29) for a member of the regular class of the Florida

31  Retirement System, except that only 8 years of creditable

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                  SB 1184
    4-1142-99                                               See HB




  1  service in this class are needed to attain the normal

  2  retirement date specified in s. 121.021(29)(a).  Any public

  3  service commissioner who was removed from the Elected State

  4  Officers' Class on July 1, 1979, after attaining at least 8

  5  years of creditable service in that class shall be considered

  6  to have reached the normal retirement date upon attaining age

  7  62 as required in s. 121.021(29)(a).

  8         Section 3.  This act shall take effect July 1, 1999.

  9

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11                          HOUSE SUMMARY

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      Provides that members of the Florida Retirement System
13    shall be vested after 5 years of creditable service. See
      bill for details.
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