Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1024
                        Barcode 255978
                            CHAMBER ACTION
              Senate                               House
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 1           Comm: RCS             .                    
       03/29/2006 05:58 PM         .                    
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11  The Committee on Governmental Oversight and Productivity
12  (Constantine) recommended the following amendment:
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14         Senate Amendment (with title amendment) 
15         On page 2, lines 14-22, delete those lines
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17  and insert:  
18         (4)(a)  The Chief Financial Officer, with the approval
19  of the State Board of Administration, shall establish such
20  plan or plans of deferred compensation for state employees of
21  governmental entities, including all such investment vehicles
22  or products incident thereto, as may be available through, or
23  offered by, qualified companies or persons, and may approve
24  one or more such plans for implementation by and on behalf of
25  governmental entities the state and their its agencies and
26  employees. The State Board of Administration shall approve the
27  initial establishment of any deferred compensation plan for
28  state employees administered by the Chief Financial Officer,
29  including all investment products for vehicles. Any county,
30  municipality, or other political subdivision of the state
31  shall approve the establishment of any plan and investment
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    10:55 AM   03/28/06                            s1024c-go22-c7b


    Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1024
                        Barcode 255978
 1  vehicles or products for its employees. When a plan for state
 2  employees is established, the State Board of Administration
 3  shall assist the Chief Financial Officer by reviewing and
 4  commenting on changes to the plan and investment products
 5  offered to state employees, but the Chief Financial Officer,
 6  or his designee, shall solely retain the responsibility for
 7  making decisions regarding all plan matters. At the request of
 8  the Chief Financial Officer, the State Board of Administration
 9  shall supply such assistance, consistent with State Board of
10  Administration rules and a mutually executed agreement between
11  the parties which sets out services and fees.
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14  ================ T I T L E   A M E N D M E N T ===============
15  And the title is amended as follows:
16         On page 1, line 10, after the semicolon,
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18  insert:
19         revising the duties of the State Board of
20         Administration regarding the establishment and
21         management of deferred compensation plans for
22         employees of governmental entities;
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    10:55 AM   03/28/06                            s1024c-go22-c7b