House Bill 0131

    Florida House of Representatives - 1999                 HB 131

        By Representative Effman






  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

  3         System; directing the director of the Division

  4         of Retirement to conduct an actuarial study of

  5         the feasibility of permitting wartime veterans

  6         employed in the system to claim certain

  7         military service as additional years of

  8         employment for retirement purposes; providing

  9         for a report to the Legislature; providing an

10         effective date.

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

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14         Section 1.  Purchase of military service by wartime

15  veterans; actuarial study required; report.--

16         (1)  The director of the Division of Retirement is

17  hereby directed to have an actuarial study conducted with

18  respect to the cost of permitting wartime veterans who have

19  been employed on or after January 1, 1987, under the Florida

20  Retirement System to purchase military service as additional

21  years of employment for retirement purposes under the Florida

22  Retirement System.

23         (2)  The director of the Division of Retirement shall

24  report the findings of the actuarial study, together with any

25  recommended legislation necessary to implement the study on or

26  before the first day of the 2000 Regular Session of the

27  Legislature to the Speaker of the House of Representatives and

28  the President of the Senate.

29         Section 2.  This act shall take effect upon becoming a

30  law.

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






    Florida House of Representatives - 1999                 HB 131

    579-115-99






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  2                          HOUSE SUMMARY

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      Requires the director of the Division of Retirement to
  4    conduct an actuarial study of the feasibility of
      permitting wartime veterans employed in the Florida
  5    Retirement System on or after January 1, 1987, to
      purchase military service as additional years of service
  6    for retirement purposes and to report on or before the
      the commencement of the 2000 Regular Session of the
  7    Legislature on the outcome of the study together with
      suggested legislation to provide for the purchase of such
  8    service.

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