SENATE AMENDMENT

    Bill No. SB 2344

    Amendment No. 1   Barcode 370408

                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Governmental Oversight and Productivity

12  recommended the following amendment:

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14         Senate Amendment (with title amendment) 

15         On page 3, between lines 2 and 3,

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17  insert:

18         Section 2.  Effective July 1, 2002, for the purposes of

19  funding the early retirement benefit change, the contribution

20  rate for the below-named classes of the Florida Retirement

21  System shall be increased, as follows:

22         (a)  The contribution rate that applies to the Regular

23  Class of the Florida Retirement System shall be increased by

24  .45 percentage points.

25         (b)  The contribution rate that applies to the Senior

26  Management Service Class of the Florida Retirement System

27  shall be increased by .70 percentage points.

28         (c)  The contribution rate that applies to the Judicial

29  Subclass of the Elected Officers' Class of the Florida

30  Retirement System shall be increased by .23 percentage points.

31         (d)  The contribution rate that applies to the

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                                                  SENATE AMENDMENT

    Bill No. SB 2344

    Amendment No. 1   Barcode 370408





  1  legislative-attorney-Cabinet subclass of the Elected Officers'

  2  Class of the Florida Retirement Class shall be increased by

  3  .86 percentage points.

  4         (e)  The contribution rate that applies to the County

  5  Officers' subclass of the Elected Officers' Class of the

  6  Florida Retirement System shall be increased by .53 percentage

  7  points.

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  9  These increases shall be in addition to all changes to such

10  contribution rates which may be enacted into law to take

11  effect on that date. The Division of Statutory Revision is

12  directed to adjust the contribution rates set forth in

13  sections 122.052, 121.055, and 121.071, Florida Statutes.

14         Section 3.  The Legislature finds that a proper and

15  legitimate state purpose is served when employees and retirees

16  of the state and of its political subdivisions, and the

17  dependents, survivors, and beneficiaries of such employees and

18  retirees, are extended the basic protections afforded by

19  governmental retirement systems that provide fair and adequate

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

21  actuarially sound manner, as required by Section 14, Article X

22  of the State Constitution and part VII of chapter 112, Florida

23  Statutes. Therefore, the Legislature determines and declares

24  that this act fulfills an important state interest.

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26  (Redesignate subsequent sections.)

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

30  And the title is amended as follows:

31         On page 1, line 5, after the semicolon

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                                                  SENATE AMENDMENT

    Bill No. SB 2344

    Amendment No. 1   Barcode 370408





  1  insert:

  2         revising contribution rates as part of the

  3         funding process; providing a declaration of

  4         important state interest;

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