Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1670
                        Barcode 440214
                            CHAMBER ACTION
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11  The Committee on Governmental Oversight and Productivity
12  (Garcia) recommended the following amendment:
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14         Senate Amendment 
15         On page 8, lines 8-29, delete those lines
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17  and insert:  
18         5.  If a member or former member of the Florida
19  Retirement System receives an invalid distribution from the
20  Public Employee Optional Retirement Program Trust Fund, such
21  person shall repay the full invalid distribution to the trust
22  fund within 90 days after receipt of final notification by the
23  State Board of Administration or the third-party administrator
24  that the distribution was invalid. If such person fails to
25  repay the full invalid distribution within 90 days after
26  receipt of final notification, the person may be deemed
27  retired from the Public Employee Optional Retirement Program
28  by the state board, as provided pursuant to s. 121.4501(2)(j),
29  and shall be subject to the provisions of s. 121.122. If such
30  person is deemed retired by the state board, any joint and
31  several liability set out in s. 121.091(9)(c)2. becomes null
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    Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1670
                        Barcode 440214
 1  and void, and the state board, the Department of Management
 2  Services, or the employing agency are not liable for gains on
 3  payroll contributions that have not been deposited to the
 4  person's account in the Public Employee Optional Retirement
 5  Program, pending resolution of the invalid distribution. The
 6  member or former member who has been deemed retired or who has
 7  been determined by the board to have taken an invalid
 8  distribution may appeal the agency decision through the
 9  complaint process as provided under s. 121.4501(9)(f)3. As
10  used in this subparagraph, the term "invalid distribution"
11  means any distribution from an account in the Public Employee
12  Optional Retirement Program which is taken in violation of the
13  provisions of this section, s. 121.091(9), or s. 121.4501.
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