| 1 | A bill to be entitled |
| 2 | An act relating to the Florida Retirement System; amending |
| 3 | s. 121.0515, F.S.; authorizing certain members to purchase |
| 4 | additional retirement credit to upgrade prior service to |
| 5 | Special Risk Class service; providing for the calculation |
| 6 | of contributions for such service upgrade; authorizing the |
| 7 | employer to purchase such additional credit for the |
| 8 | member; providing an effective date. |
| 9 |
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| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
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| 12 | Section 1. Paragraph (c) is added to subsection (9) of |
| 13 | section 121.0515, Florida Statutes, to read: |
| 14 | 121.0515 Special risk membership.-- |
| 15 | (9) CREDIT FOR UPGRADED SERVICE.-- |
| 16 | (c) Any member of the Special Risk Class who has earned |
| 17 | creditable service in another membership class of the Florida |
| 18 | Retirement System as a medical examiner or as an employee of a |
| 19 | law enforcement agency in a forensic discipline as described in |
| 20 | paragraph (2)(h), which service is within the purview of the |
| 21 | Special Risk Class, may purchase additional retirement credit to |
| 22 | upgrade such service to Special Risk Class service, to the |
| 23 | extent of the percentages of the member's average final |
| 24 | compensation provided in s. 121.091(1)(a)2. Contributions for |
| 25 | upgrading such service to Special Risk Class credit under this |
| 26 | subsection shall be equal to the difference in the contributions |
| 27 | paid and the Special Risk Class contribution rate as a |
| 28 | percentage of gross salary in effect for the period being |
| 29 | claimed, plus interest thereon at the rate of 6.5 percent a |
| 30 | year, compounded annually until the date of payment. This |
| 31 | service credit may be purchased by the employer on behalf of the |
| 32 | member. |
| 33 | Section 2. This act shall take effect upon becoming a law. |