|
|
|
|
|
1
|
A bill to be entitled |
|
2
|
An act relating to upgrading service under the Florida |
|
3
|
Retirement System; amending s. 121.0515, F.S.; deleting a |
|
4
|
requirement that interest be paid on certain amounts |
|
5
|
authorized to be paid by certain Special Risk Class |
|
6
|
members to upgrade service for retirement purposes; |
|
7
|
providing an effective date. |
|
8
|
|
|
9
|
Be It Enacted by the Legislature of the State of Florida: |
|
10
|
|
|
11
|
Section 1. Paragraph (a) of subsection (9) of section |
|
12
|
121.0515, Florida Statutes, is amended to read: |
|
13
|
121.0515 Special risk membership.-- |
|
14
|
(9) CREDIT FOR UPGRADED SERVICE.-- |
|
15
|
(a) Any member of the Special Risk Class who has earned |
|
16
|
creditable service in another membership class of the Florida |
|
17
|
Retirement System as an emergency medical technician or |
|
18
|
paramedic, which service is within the purview of the Special |
|
19
|
Risk Class, may purchase additional retirement credit to upgrade |
|
20
|
such service to Special Risk Class service, to the extent of the |
|
21
|
percentages of the member's average final compensation provided |
|
22
|
in s. 121.091(1)(a)2. Contributions for upgrading such service |
|
23
|
to Special Risk Class credit under this subsection shall be |
|
24
|
equal to the difference in the contributions paid and the |
|
25
|
Special Risk Class contribution rate as a percentage of gross |
|
26
|
salary in effect for the period being claimed, plus interest |
|
27
|
thereon at the rate of 6.5 percent a year, compounded annually |
|
28
|
until the date of payment. This service credit may be purchased |
|
29
|
by the employer on behalf of the member. |
|
30
|
Section 2. This act shall take effect upon becoming a law. |