SENATE AMENDMENT

    Bill No. CS for SB 724

    Amendment No.    

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

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13         Senate Amendment (with title amendment) 

14         On page 2, line 29, through page 3, line 9, delete

15  those lines

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17  and insert:  from the Florida Retirement System altogether and

18  participate in a lifetime monthly annuity program which may be

19  provided by the employing agency.  The cost to the employer

20  for such annuity shall equal the normal cost portion of the

21  contributions required in the Senior Management Service Class.

22  The employer providing such annuity shall contribute an

23  additional amount to the Florida Retirement System Trust Fund

24  equal to the unfunded actuarial accrued liability portion of

25  the Senior Management Service Class contribution rate. The

26  decision to withdraw from the Florida Retirement System

27  participate in such local government annuity shall be

28  irrevocable for as long as the employee holds such a position

29  eligible for the annuity.  Any service creditable under the

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    3:01 PM   04/22/99                              s0724c1c-38X96




                                                  SENATE AMENDMENT

    Bill No. CS for SB 724

    Amendment No.    





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

 2  And the title is amended as follows:

 3         On page 1, line 9, after the semicolon

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 5  insert:

 6         revising provisions with respect to the Senior

 7         Management Service Class to permit certain

 8         government senior managers to withdraw from the

 9         Florida Retirement System altogether;

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    3:01 PM   04/22/99                              s0724c1c-38X96