House Bill 0275c1

    Florida House of Representatives - 2000              CS/HB 275

        By the Committee on Governmental Operations and
    Representatives Effman and Wiles





  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

  3         System; amending s. 121.111, F.S.; amending

  4         conditions under which a member of the system

  5         may receive creditable service for certain

  6         military service; providing an effective date.

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

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10         Section 1.  Subsection (2) of section 121.111, Florida

11  Statutes, is amended to read:

12         121.111  Credit for military service.--

13         (2)  Any member whose initial date of employment is

14  before January 1, 1987, who has military service as defined in

15  s. 121.021(20)(b), and who does not claim such service under

16  subsection (1) may receive creditable service for such

17  military service if:

18         (a)  The member is vested;

19         (b)  Creditable service, not to exceed a total of 4

20  years, is claimed only as service earned in the Regular Class

21  of membership; and

22         (c)  The member pays into the proper retirement trust

23  fund 4 percent of gross salary, based upon his or her first

24  year of salary subsequent to July 1, 1945, that he or she has

25  credit for under this system, plus 4 percent interest thereon

26  compounded annually from the date of first creditable service

27  under this chapter until July 1, 1975, and 6.5 percent

28  interest compounded annually thereafter, until payment is made

29  to the proper retirement trust fund.

30         Section 2.  The Legislature finds that a proper and

31  legitimate state purpose is served when employees and retirees

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






    Florida House of Representatives - 2000              CS/HB 275

    688-125-00






  1  of the state and its political subdivisions, and the

  2  dependents, survivors, and beneficiaries of such employees and

  3  retirees, are extended the basic protections afforded by

  4  governmental retirement systems that provide fair and adequate

  5  benefits and that are managed, administered, and funded in an

  6  actuarially sound manner as required by s. 14, Art. X, of the

  7  State Constitution and part VII of chapter 112, Florida

  8  Statutes.  Therefore, the Legislature hereby determines and

  9  declares that the provisions of this act fulfill an important

10  state interest.

11         Section 3.  This act shall take effect upon becoming a

12  law.

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