Senate Bill sb1508

    Florida Senate - 2004                                  SB 1508

    By Senator Lawson





    6-246-04

  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

  3         System; amending s. 121.051, F.S.; revising the

  4         calculation of contributions and creditable

  5         service for members of the Special Risk Class

  6         who are dually employed; providing an effective

  7         date.

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

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11         Section 1.  Paragraph (b) of subsection (9) of section

12  121.051, Florida Statutes, is amended to read:

13         121.051  Participation in the system.--

14         (9)  DUAL EMPLOYMENT.--A member may not participate in

15  more than one state-administered retirement system, plan, or

16  class of membership simultaneously. Pursuant thereto:

17         (b)  Contributions shall be made and creditable service

18  shall be determined as follows:

19         1.  If the member is participating in the Regular Class

20  or Special Risk Class, retirement contributions shall be made

21  on the total salary the member has received for all covered

22  employment, and at retirement the member's average final

23  compensation shall be calculated on the total salary received

24  from all covered employment.

25         2.  If the member is participating in the Senior

26  Management Service Class, Special Risk Class, or Special Risk

27  Administrative Support Class, retirement contributions shall

28  be made only on the salary received in the designated class of

29  membership. At retirement, the member's average final

30  compensation shall be based only on the salary received in the

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






    Florida Senate - 2004                                  SB 1508
    6-246-04




 1  designated class of membership for any period, including any

 2  period of dual employment.

 3         Section 2.  This act shall take effect July 1, 2004.

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 6                          SENATE SUMMARY

 7    Provides that, with respect to members of the Special
      Risk Class of the Florida Retirement System who are
 8    dually employed, retirement contributions and calculation
      of average final compensation will be made in the same
 9    manner as for members of the Regular Class.

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