Senate Bill sb1994
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 SB 1994
By Senator Lawson
6-1594-04 See HB
1 A bill to be entitled
2 An act relating to upgrading service under the
3 Florida Retirement System; amending s.
4 121.0515, F.S.; deleting a requirement that
5 interest be paid on certain amounts authorized
6 to be paid by certain Special Risk Class
7 members to upgrade service for retirement
8 purposes; providing an effective date.
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10 Be It Enacted by the Legislature of the State of Florida:
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12 Section 1. Paragraph (a) of subsection (9) of section
13 121.0515, Florida Statutes, is amended to read:
14 121.0515 Special risk membership.--
15 (9) CREDIT FOR UPGRADED SERVICE.--
16 (a) Any member of the Special Risk Class who has
17 earned creditable service in another membership class of the
18 Florida Retirement System as an emergency medical technician
19 or paramedic, which service is within the purview of the
20 Special Risk Class, may purchase additional retirement credit
21 to upgrade such service to Special Risk Class service, to the
22 extent of the percentages of the member's average final
23 compensation provided in s. 121.091(1)(a)2. Contributions for
24 upgrading such service to Special Risk Class credit under this
25 subsection shall be equal to the difference in the
26 contributions paid and the Special Risk Class contribution
27 rate as a percentage of gross salary in effect for the period
28 being claimed, plus interest thereon at the rate of 6.5
29 percent a year, compounded annually until the date of payment.
30 This service credit may be purchased by the employer on behalf
31 of the member.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2004 SB 1994
6-1594-04 See HB
1 Section 2. This act shall take effect upon becoming a
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CODING: Words stricken are deletions; words underlined are additions.