Amendment
Bill No. 1159
Amendment No. 325043
CHAMBER ACTION
Senate House
.
.
.






1Representative Hays offered the following:
2
3     Amendment (with title amendment)
4     Between lines 22 and 23 insert:
5     Section 1.  Paragraph (b) of subsection (1) of section
6121.055, Florida Statutes, is amended to read:
7     121.055  Senior Management Service Class.--There is hereby
8established a separate class of membership within the Florida
9Retirement System to be known as the "Senior Management Service
10Class," which shall become effective February 1, 1987.
11     (1)
12     (b)1.  Except as provided in subparagraph 2., effective
13January 1, 1990, participation in the Senior Management Service
14Class shall be compulsory for the president of each community
15college, the manager of each participating city or county, and
16all appointed district school superintendents.  Effective
17January 1, 1994, additional positions may be designated for
18inclusion in the Senior Management Service Class of the Florida
19Retirement System, provided that:
20     a.  Positions to be included in the class shall be
21designated by the local agency employer.  Notice of intent to
22designate positions for inclusion in the class shall be
23published once a week for 2 consecutive weeks in a newspaper of
24general circulation published in the county or counties
25affected, as provided in chapter 50.
26     b.  Up to 10 nonelective full-time positions may be
27designated for each local agency employer reporting to the
28Department of Management Services; for local agencies with 100
29or more regularly established positions, additional nonelective
30full-time positions may be designated, not to exceed 1 percent
31of the regularly established positions within the agency.
32     c.  Each position added to the class must be a managerial
33or policymaking position filled by an employee who is not
34subject to continuing contract and serves at the pleasure of the
35local agency employer without civil service protection, and who:
36     (I)  Heads an organizational unit; or
37     (II)  Has responsibility to effect or recommend personnel,
38budget, expenditure, or policy decisions in his or her areas of
39responsibility.
40     2.  In lieu of participation in the Senior Management
41Service Class, members of the Senior Management Service Class
42pursuant to the provisions of subparagraph 1. may withdraw from
43the Florida Retirement System altogether. The decision to
44withdraw from the Florida Retirement System shall be irrevocable
45for as long as the employee holds such a position. Any service
46creditable under the Senior Management Service Class shall be
47retained after the member withdraws from the Florida Retirement
48System; however, additional service credit in the Senior
49Management Service Class shall not be earned after such
50withdrawal.  Such members shall not be eligible to participate
51in the Senior Management Service Optional Annuity Program.
52     3.  Effective January 1, 2006, through June 30, 2006, an
53employee who has withdrawn from the Florida Retirement System
54under subparagraph 2. has one opportunity to elect to
55participate in either the defined benefit program or the Public
56Employee Optional Retirement Program of the Florida Retirement
57System.
58     a.  If the employee elects to participate in the Public
59Employee Optional Retirement Program, membership shall be
60prospective, and the applicable provisions of s. 121.4501(4)
61shall govern the election.
62     b.  If the employee elects to participate in the defined
63benefit program of the Florida Retirement System, the employee
64shall, upon payment to the system trust fund of the amount
65calculated under sub-sub-subparagraph (I), receive service
66credit for prior service based upon the time during which the
67employee had withdrawn from the system.
68     (I)  The cost for such credit shall be an amount
69representing the actuarial accrued liability for the affected
70period of service. The cost shall be calculated using the
71discount rate and other relevant actuarial assumptions that were
72used to value the Florida Retirement System defined benefit plan
73liabilities in the most recent actuarial valuation. The
74calculation shall include any service already maintained under
75the defined benefit plan in addition to the period of
76withdrawal. The actuarial accrued liability attributable to any
77service already maintained under the defined benefit plan shall
78be applied as a credit to the total cost resulting from the
79calculation. The division shall ensure that the transfer sum is
80prepared using a formula and methodology certified by an
81actuary.
82     (II)  The employee must transfer a sum representing the net
83cost owed for the actuarial accrued liability in sub-sub-
84subparagraph (I) immediately following the time of such
85movement, determined assuming that attained service equals the
86sum of service in the defined benefit program and the period of
87withdrawal.
88
89================ T I T L E  A M E N D M E N T =============
90     Remove line 6 and insert:
91An act relating to the Florida Retirement System; amending s.
92121.055, F.S.; during a specified period of time, permitting
93local government employees who are members of the Senior
94Management Service Class, who have withdrawn from the Florida
95Retirement System, to elect membership in the defined benefit
96program or the public employee optional retirement program of
97the system; prescribing requirements in making such election;
98providing for payment of the costs of such membership; amending
99s.


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