Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. SB 812
                        Barcode 541958
                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Criminal Justice (Haridopolos) recommended
12  the following amendment:
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14         Senate Amendment (with title amendment) 
15         Delete everything after the enacting clause
16  
17  and insert:  
18         Section 1.  Paragraph (c) is added to subsection (9) of
19  section 121.0515, Florida Statutes, to read:
20         121.0515  Special risk membership.--
21         (9)  CREDIT FOR UPGRADED SERVICE.--
22         (c)  Any member of the Special Risk Class who has
23  earned creditable service in another membership class of the
24  Florida Retirement System as a community-based correctional
25  probation officer certified in compliance with s. 943.10(3),
26  which service is within the purview of the Special Risk Class,
27  may purchase additional retirement credit to upgrade such
28  service to Special Risk Class service, to the extent of the
29  percentages of the member's average final compensation as
30  provided in s. 121.091(1)(a)2. Contributions for upgrading
31  such service to Special Risk Class credit under this paragraph
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    9:14 AM   04/25/05                             s0812d-cj26-bz1

Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. SB 812 Barcode 541958 1 shall be equal to the difference in the contributions paid and 2 the Special Risk Class contribution rate as a percentage of 3 gross salary in effect for the period being claimed, plus 4 interest thereon at the rate of 6.5 percent a year, compounded 5 annually until the date of payment. Such service credits 6 shall, for purposes of s. 121.091, apply toward satisfaction 7 of the special risk normal retirement date, as provided in s. 8 121.021(29)(b). This service credit may be purchased by the 9 employer on behalf of the member. 10 Section 2. Effective July 1, 2005, in order to fund 11 the benefits provided under section 1 of this act, the 12 contribution rate that applies to the Special Risk Class of 13 the Florida Retirement System shall be increased by 0.04 14 percentage points. This increase shall be in addition to all 15 other changes to such contribution rates which may be enacted 16 into law to take effect on that date. The Division of 17 Statutory Revision is directed to adjust accordingly the 18 contribution rates set forth in section 121.071, Florida 19 Statutes. 20 Section 3. This act shall take effect upon becoming a 21 law. 22 23 24 ================ T I T L E A M E N D M E N T =============== 25 And the title is amended as follows: 26 Delete everything before the enacting clause 27 28 and insert: 29 A bill to be entitled 30 An act relating to the Florida Retirement 31 System; amending s. 121.0515, F.S.; authorizing 2 9:14 AM 04/25/05 s0812d-cj26-bz1
Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. SB 812 Barcode 541958 1 certain employees to purchase additional 2 retirement credit to upgrade prior service as a 3 community-based correctional probation officer 4 to Special Risk Class service; providing for 5 the calculation of contributions for such 6 service upgrade; providing that purchased 7 credit shall be used to satisfy the member's 8 normal retirement date; authorizing the 9 employer to purchase such additional credit for 10 the employee; directing the Division of 11 Statutory Revision to adjust contribution rates 12 set forth in s. 121.071, F.S.; providing an 13 effective date. 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 9:14 AM 04/25/05 s0812d-cj26-bz1