HB 1165CS


1The Governmental Operations Committee recommends the following:
3     Council/Committee Substitute
4     Remove the entire bill and insert:
A bill to be entitled
6An act relating to the Florida Retirement System; amending
7s. 121.0515, F.S.; authorizing certain members to purchase
8additional retirement credit to upgrade prior service to
9Special Risk Class service; providing for the calculation
10of contributions for such service upgrade; authorizing the
11employer to purchase such additional credit for the
12member; providing a declaration of important state
13interest; providing an effective date.
15Be It Enacted by the Legislature of the State of Florida:
17     Section 1.  Paragraph (c) is added to subsection (9) of
18section 121.0515, Florida Statutes, to read:
19     121.0515  Special risk membership.--
21     (c)  Any member of the Special Risk Class who has earned
22creditable service in another membership class of the Florida
23Retirement System as a medical examiner or as an employee of a
24law enforcement agency in a forensic discipline as described in
25paragraph (2)(h), which service is within the purview of the
26Special Risk Class, may purchase additional retirement credit to
27upgrade such service to Special Risk Class service, to the
28extent of the percentages of the member's average final
29compensation provided in s. 121.091(1)(a)2. Contributions for
30upgrading such service to Special Risk Class credit under this
31subsection shall be equal to the difference in the contributions
32paid and the Special Risk Class contribution rate as a
33percentage of gross salary in effect for the period being
34claimed, plus interest thereon at the rate of 6.5 percent a
35year, compounded annually until the date of payment. This
36service credit may be purchased by the employer on behalf of the
38     Section 2.  The Legislature finds that a proper and
39legitimate state purpose is served when employees and retirees
40of the state and its political subdivisions, and the dependents,
41survivors, and beneficiaries of such employees and retirees, are
42extended additional protections afforded by governmental
43retirement systems. These persons must be provided benefits that
44are fair and adequate and that are managed, administered, and
45funded in a sound actuarial manner, as required by Section 14,
46Article X of the State Constitution and part VII of chapter 112,
47Florida Statutes. Therefore, the Legislature hereby determines
48and declares that this act fulfills an important state interest.
49     Section 3.  This act shall take effect upon becoming a law.

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