SENATE AMENDMENT

    Bill No. CS for SB 1352

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Brown-Waite moved the following amendment:

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13         Senate Amendment 

14         On page 25, lines 24-27, delete those lines

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16  and insert:  services. The third-party administrator may be an

17  approved provider, if so designated by the State Board of

18  Administration. If at any time plan assets in the third-party

19  administrator's proprietary funds reach 25 percent of the

20  total plan assets the third-party administrator shall not

21  accept any new clients. Any product sold by a provider company

22  from a fund of the third-party administrator shall not count

23  as part of the 25 percent limitation. A plan review shall be

24  conducted when plan assets in the third-party administrator's

25  proprietary funds reach 25 percent. The plan review shall be

26  conducted by a newly created joint oversight committee

27  comprised of four members from the House of Representatives

28  and four members from the Senate. The committee shall oversee

29  and periodically review investment options and is authorized

30  to recommend changes to the third-party administrator and the

31  State Board of Administration. Staff for this committee shall

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 1352

    Amendment No.    





 1  be provided by the Joint Legislative Auditing Committee.

 2  Independent from the third-party administrator, the board

 3  shall select and contract with a separate firm to provide

 4  education services, which firm shall have no financial

 5  relationship with any program provider or the third-party

 6  administrator. With the approval of the state board, the

 7  third-party administrator may subcontract with other

 8  organizations to provide components of the administrative

 9  services. As a cost of

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