SENATE AMENDMENT

    Bill No. CS for SB 1858

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Silver moved the following amendment:

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13         Senate Amendment 

14         On page 4, lines 1-11, delete those lines

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16  and insert:

17         (a)  The Preservation of Benefits Plan shall be

18  unfunded within the meaning of the federal tax laws. No payee

19  contribution or deferrals, direct or indirect, by election or

20  otherwise shall be made or allowed under the Preservation of

21  Benefits Plan. Benefits due under the Preservation of Benefits

22  Plan as determined by the Division of Retirement shall be paid

23  timely from the Preservation of Benefits Plan Trust Fund, if

24  created by law.

25         (b)  Florida Retirement System monthly contributions

26  paid to the Division of Retirement by the payee's past covered

27  employer shall be reduced by the employer as

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    9:58 AM   04/26/99                              s1858c1b-38r0b