HB 1165

A bill to be entitled
2An act relating to the Florida Retirement System; amending
3s. 121.0515, F.S.; authorizing certain members to purchase
4additional retirement credit to upgrade prior service to
5Special Risk Class service; providing for the calculation
6of contributions for such service upgrade; authorizing the
7employer to purchase such additional credit for the
8member; 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 another membership class of the Florida
18Retirement System as a medical examiner or as an employee of a
19law enforcement agency in a forensic discipline as described in
20paragraph (2)(h), which service is within the purview of the
21Special Risk Class, may purchase additional retirement credit to
22upgrade such service to Special Risk Class service, to the
23extent of the percentages of the member's average final
24compensation provided in s. 121.091(1)(a)2. Contributions for
25upgrading such service to Special Risk Class credit under this
26subsection shall be equal to the difference in the contributions
27paid and the Special Risk Class contribution rate as a
28percentage of gross salary in effect for the period being
29claimed, plus interest thereon at the rate of 6.5 percent a
30year, compounded annually until the date of payment. This
31service credit may be purchased by the employer on behalf of the
33     Section 2.  This act shall take effect upon becoming a law.

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