Senate Bill sb1930

    Florida Senate - 2005                                  SB 1930

    By Senator Garcia





    40-709-05

  1                      A bill to be entitled

  2         An act relating to special risk retirement;

  3         amending s. 121.0515, F.S.; authorizing certain

  4         persons who earned credit for service in the

  5         Regular Class of the Florida Retirement System

  6         while attending a training academy or facility

  7         for certification as a law enforcement officer

  8         or correctional officer to upgrade their

  9         retirement credit therefor to Special Risk

10         Class service; providing for payment of

11         additional contributions to effect the upgrade

12         and for interest on such payments; providing an

13         effective date.

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

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17         Section 1.  Paragraph (c) is added to subsection (9) of

18  section 121.0515, Florida Statutes, to read:

19         121.0515  Special risk membership.--

20         (9)  CREDIT FOR UPGRADED SERVICE.--

21         (c)  Any member of the Special Risk Class who has

22  earned creditable service in the Regular Class of the Florida

23  Retirement System during the period July 1, 1978, through June

24  30, 1984, while attending a certified training academy or

25  other certified training facility approved by the employer for

26  certification as a law enforcement officer or correctional

27  officer, which service is within the purview of the Special

28  Risk Class, may purchase such service to upgrade to Special

29  Risk Class service, to the extent of the percentages of the

30  member's average final compensation provided in s.

31  121.091(1)(a)2. Contributions for upgrading such service to

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






    Florida Senate - 2005                                  SB 1930
    40-709-05




 1  Special Risk Class credit under this subsection shall be equal

 2  to the difference in the contributions paid and the Special

 3  Risk Class contribution rate as a percentage of gross salary

 4  in effect for the period being claimed, plus interest thereon

 5  at the rate of 6.5 percent a year, compounded annually until

 6  the date of payment. This service credit may be purchased by

 7  the employer on behalf of the member.

 8         Section 2.  This act shall take effect upon becoming a

 9  law.

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12                          SENATE SUMMARY

13    Allows a person who has retirement credit for service
      while attending a training academy or facility during the
14    period July 1, 1978-June 30, 1984, for certification as a
      law enforcement officer or correctional officer, which
15    service is not in the Special Risk Class of the Florida
      Retirement System, to purchase additional credit to
16    upgrade it to Special Risk Class service. Such upgrade
      may also be purchased on the employee's behalf by his or
17    her employer.

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