HB 0339

A bill to be entitled
2An act relating to the Florida Retirement System; amending
3s. 121.0515, F.S.; authorizing certain employees to
4purchase additional retirement credit to upgrade prior
5service to Special Risk Class service; providing for the
6calculation of contributions for such service upgrade;
7authorizing the employer to purchase such additional
8credit for the employee; providing an effective date.
10Be It Enacted by the Legislature of the State of Florida:
12     Section 1.  Paragraph (c) is added to subsection (9) of
13section 121.0515, Florida Statutes, to read:
14     121.0515  Special risk membership.--
16     (c)  Any member of the Special Risk Class who has earned
17creditable service in the Regular Class of the Florida
18Retirement System between the years July 1, 1978, and June 30,
191984, while attending a certified training academy or other
20certified training facility approved by the employer for
21certification as a law enforcement officer or correctional
22officer, which service is within the purview of the Special Risk
23Class, may purchase such service to upgrade to Special Risk
24Class service, to the extent of the percentages of the member's
25average final compensation as provided in s. 121.091(1)(a)2.
26Contributions for upgrading such service to Special Risk Class
27credit under this paragraph shall be equal to the difference in
28the contributions paid and the Special Risk Class contribution
29rate as a percentage of gross salary in effect for the period
30being claimed, plus interest thereon at the rate of 6.5 percent
31a year, compounded annually until the date of payment. This
32service credit may be purchased by the employer on behalf of the
34     Section 2.  This act shall take effect upon becoming a law.

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