Amendment
Bill No. 0003
Amendment No. 655285
CHAMBER ACTION
Senate House
.
.
.




1Representative D. Davis offered the following:
2
3     Amendment (with title amendment)
4     Remove everything after the enacting clause and insert:
5     Section 1.  Paragraph (a) of subsection (8) of section
6175.032, Florida Statutes, is amended to read:
7     175.032  Definitions.--For any municipality, special fire
8control district, chapter plan, local law municipality, local
9law special fire control district, or local law plan under this
10chapter, the following words and phrases have the following
11meanings:
12     (8)(a)  "Firefighter" means any person employed solely by a
13constituted fire department of any municipality or special fire
14control district who is certified as a firefighter as a
15condition of employment in accordance with the provisions of s.
16633.35 and whose duty it is to extinguish fires, to protect
17life, or to protect property. "Firefighter" includes all
18certified supervisory and command personnel whose duties
19include, in whole or in part, the supervision, training,
20guidance, and management responsibilities of full-time
21firefighters, part-time firefighters, or auxiliary firefighters
22but does not include part-time firefighters or auxiliary
23firefighters. However, for purposes of this chapter only,
24"firefighter" also includes public safety officers who are
25responsible for performing both police and fire services, who
26are certified as police officers or firefighters, and who are
27certified by their employers to the Chief Financial Officer as
28participating in this chapter prior to October 1, 1979.
29Effective October 1, 1979, public safety officers who have not
30been certified as participating in this chapter shall be
31considered police officers for retirement purposes and shall be
32eligible to participate in chapter 185. Any plan may provide
33that the fire chief shall have an option to participate, or not,
34in that plan.
35     Section 2.  Paragraph (a) of subsection (1) and subsection
36(7) of section 175.061, Florida Statutes, are amended to read:
37     175.061  Board of trustees; members; terms of office;
38meetings; legal entity; costs; attorney's fees.--For any
39municipality, special fire control district, chapter plan, local
40law municipality, local law special fire control district, or
41local law plan under this chapter:
42     (1)  In each municipality and in each special fire control
43district there is hereby created a board of trustees of the
44firefighters' pension trust fund, which shall be solely
45responsible for administering the trust fund. Effective October
461, 1986, and thereafter:
47     (a)  The membership of the board of trustees for a chapter
48plan shall consist of five members, two of whom, unless
49otherwise prohibited by law, shall be legal residents of the
50municipality or special fire control district, who shall be
51appointed by the governing body of the municipality or special
52fire control district, and two of whom shall be full-time
53firefighters as defined in s. 175.032 who shall be elected by a
54majority of the active firefighters who are members of such
55plan. With respect to any chapter plan or local law plan that,
56on January 1, 1997, allowed retired firefighters to vote in such
57elections, retirees may continue to vote in such elections. The
58fifth member shall be chosen by a majority of the previous four
59members as provided for herein, and such person's name shall be
60submitted to the governing body of the municipality or special
61fire control district. Upon receipt of the fifth person's name,
62the governing body of the municipality or special fire control
63district shall, as a ministerial duty, appoint such person to
64the board of trustees as its fifth member. The fifth member
65shall have the same rights as each of the other four members
66appointed or elected as herein provided, shall serve as trustee
67for a period of 2 years, and may succeed himself or herself in
68office. Each resident member shall serve as trustee for a period
69of 2 years, unless sooner replaced by the governing body at
70whose pleasure he or she shall serve, and may succeed himself or
71herself as a trustee. Each firefighter member shall serve as
72trustee for a period of 2 years, unless he or she sooner leaves
73the employment of the municipality or special fire control
74district as a firefighter, whereupon a successor shall be chosen
75in the same manner as an original appointment. Each firefighter
76may succeed himself or herself in office. The terms of office of
77the appointed and elected members of the board may be amended by
78municipal ordinance, special act of the Legislature, or
79resolution adopted by the governing body of the special fire
80control district to extend the terms of office from 2 years to 4
81years. The length of the terms of office shall be the same for
82all board members.
83     (7)  The board of trustees may, upon written request by the
84retiree of the plan, or by a dependent, when authorized by the
85retiree or the retiree's beneficiary, authorize the plan
86administrator to withhold from the monthly retirement payment
87those funds that are necessary to pay for the benefits being
88received through the governmental entity from which the employee
89retired, to pay the certified bargaining agent of the
90governmental entity, and to make any payments for child support
91or alimony. Further, the board of trustees may, upon written
92request of the retiree of the plan, authorize the plan
93administrator to withhold from the retirement payment those
94funds that are necessary to pay for premiums for accident,
95health, and long-term care insurance for the retiree and the
96retiree's spouse and dependents. A retirement plan does not
97incur any liability for participation in this permissive program
98if its actions are taken in good faith.
99     Section 3.  Subsection (1) of section 175.071, Florida
100Statutes, is amended to read:
101     175.071  General powers and duties of board of
102trustees.--For any municipality, special fire control district,
103chapter plan, local law municipality, local law special fire
104control district, or local law plan under this chapter:
105     (1)  The board of trustees, subject to the fiduciary
106standards in ss. 112.656, 112.661, and 518.11 and the Code of
107Ethics in ss. 112.311-112.3187, may:
108     (a)  Invest and reinvest the assets of the firefighters'
109pension trust fund in annuity and life insurance contracts of
110life insurance companies in amounts sufficient to provide, in
111whole or in part, the benefits to which all of the participants
112in the firefighters' pension trust fund shall be entitled under
113the provisions of this chapter and pay the initial and
114subsequent premiums thereon.
115     (b)  Invest and reinvest the assets of the firefighters'
116pension trust fund in:
117     1.  Time or savings accounts of a national bank, a state
118bank insured by the Bank Insurance Fund, or a savings, building,
119and loan association insured by the Savings Association
120Insurance Fund which is administered by the Federal Deposit
121Insurance Corporation or a state or federal chartered credit
122union whose share accounts are insured by the National Credit
123Union Share Insurance Fund.
124     2.  Obligations of the United States or obligations
125guaranteed as to principal and interest by the government of the
126United States.
127     3.  Bonds issued by the State of Israel.
128     4.  Bonds, stocks, or other evidences of indebtedness
129issued or guaranteed by a corporation organized under the laws
130of the United States, any state or organized territory of the
131United States, or the District of Columbia, provided:
132     a.  The corporation is listed on any one or more of the
133recognized national stock exchanges or on the National Market
134System of the NASDAQ Stock Market and, in the case of bonds
135only, holds a rating in one of the three highest classifications
136by a major rating service; and
137     b.  The board of trustees shall not invest more than 5
138percent of its assets in the common stock or capital stock of
139any one issuing company, nor shall the aggregate investment in
140any one issuing company exceed 5 percent of the outstanding
141capital stock of that company or the aggregate of its
142investments under this subparagraph at cost exceed 50 percent of
143the assets of the fund.
144
145This paragraph shall apply to all boards of trustees and
146participants. However, in the event that a municipality or
147special fire control district has a duly enacted pension plan
148pursuant to, and in compliance with, s. 175.351, and the
149trustees thereof desire to vary the investment procedures
150herein, the trustees of such plan shall request a variance of
151the investment procedures as outlined herein only through a
152municipal ordinance, special act of the Legislature, or
153resolution by the governing body of the special fire control
154district; where a special act, or a municipality by ordinance
155adopted prior to July 1, 1998, permits a greater than 50-percent
156equity investment, such municipality shall not be required to
157comply with the aggregate equity investment provisions of this
158paragraph. Notwithstanding any other provision of law to the
159contrary, nothing in this section may be construed to take away
160any preexisting legal authority to make equity investments that
161exceed the requirements of this paragraph. The board of trustees
162may invest up to 20 10 percent of plan assets in foreign
163securities.
164     (c)  Issue drafts upon the firefighters' pension trust fund
165pursuant to this act and rules and regulations prescribed by the
166board of trustees. All such drafts shall be consecutively
167numbered, be signed by the chair and secretary or two
168individuals designated by the board who are subject to the same
169fiduciary standards as required for the board of trustees under
170this subsection, and state upon their faces the purpose for
171which the drafts are drawn. The treasurer or depository of each
172municipality or special fire control district shall retain such
173drafts when paid, as permanent vouchers for disbursements made,
174and no money shall be otherwise drawn from the fund.
175     (d)  Convert into cash any securities of the fund.
176     (e)  Keep a complete record of all receipts and
177disbursements and of the board's acts and proceedings.
178     Section 4.  Paragraph (a) of subsection (1) and subsection
179(6) of section 185.05, Florida Statutes, are amended to read:
180     185.05  Board of trustees; members; terms of office;
181meetings; legal entity; costs; attorney's fees.--For any
182municipality, chapter plan, local law municipality, or local law
183plan under this chapter:
184     (1)  In each municipality described in s. 185.03 there is
185hereby created a board of trustees of the municipal police
186officers' retirement trust fund, which shall be solely
187responsible for administering the trust fund. Effective October
1881, 1986, and thereafter:
189     (a)  The membership of the board of trustees for chapter
190plans shall consist of five members, two of whom, unless
191otherwise prohibited by law, shall be legal residents of the
192municipality, who shall be appointed by the legislative body of
193the municipality, and two of whom shall be police officers as
194defined in s. 185.02 who shall be elected by a majority of the
195active police officers who are members of such plan. With
196respect to any chapter plan or local law plan that, on January
1971, 1997, allowed retired police officers to vote in such
198elections, retirees may continue to vote in such elections. The
199fifth member shall be chosen by a majority of the previous four
200members, and such person's name shall be submitted to the
201legislative body of the municipality. Upon receipt of the fifth
202person's name, the legislative body of the municipality shall,
203as a ministerial duty, appoint such person to the board of
204trustees as its fifth member. The fifth member shall have the
205same rights as each of the other four members appointed or
206elected as herein provided, shall serve as trustee for a period
207of 2 years, and may succeed himself or herself in office. Each
208resident member shall serve as trustee for a period of 2 years,
209unless sooner replaced by the legislative body at whose pleasure
210the member shall serve, and may succeed himself or herself as a
211trustee. Each police officer member shall serve as trustee for a
212period of 2 years, unless he or she sooner leaves the employment
213of the municipality as a police officer, whereupon the
214legislative body of the municipality shall choose a successor in
215the same manner as an original appointment. Each police officer
216may succeed himself or herself in office. The terms of office of
217the appointed and elected members of the board may be amended by
218municipal ordinance or special act of the Legislature to extend
219the terms of office from 2 years to 4 years. The length of the
220terms of office shall be the same for all board members.
221     (6)  The board of trustees may, upon written request by the
222retiree of the plan, or by a dependent, when authorized by the
223retiree or the retiree's beneficiary, authorize the plan
224administrator to withhold from the monthly retirement payment
225those funds that are necessary to pay for the benefits being
226received through the governmental entity from which the employee
227retired, to pay the certified bargaining agent of the
228governmental entity, and to make any payments for child support
229or alimony. Further, the board of trustees may, upon written
230request of the retiree of the plan, authorize the plan
231administrator to withhold from the retirement payment those
232funds that are necessary to pay for premiums for accident,
233health, and long-term care insurance for the retiree and the
234retiree's spouse and dependents. A retirement plan does not
235incur any liability for participation in this permissive program
236if its actions are taken in good faith.
237     Section 5.  Subsection (1) of section 185.06, Florida
238Statutes, is amended to read:
239     185.06  General powers and duties of board of
240trustees.--For any municipality, chapter plan, local law
241municipality, or local law plan under this chapter:
242     (1)  The board of trustees, subject to the fiduciary
243standards in ss. 112.656, 112.661, and 518.11 and the Code of
244Ethics in ss. 112.311-112.3187, may:
245     (a)  Invest and reinvest the assets of the retirement trust
246fund in annuity and life insurance contracts of life insurance
247companies in amounts sufficient to provide, in whole or in part,
248the benefits to which all of the participants in the municipal
249police officers' retirement trust fund shall be entitled under
250the provisions of this chapter, and pay the initial and
251subsequent premiums thereon.
252     (b)  Invest and reinvest the assets of the retirement trust
253fund in:
254     1.  Time or savings accounts of a national bank, a state
255bank insured by the Bank Insurance Fund, or a savings and loan
256association insured by the Savings Association Insurance Fund
257which is administered by the Federal Deposit Insurance
258Corporation or a state or federal chartered credit union whose
259share accounts are insured by the National Credit Union Share
260Insurance Fund.
261     2.  Obligations of the United States or obligations
262guaranteed as to principal and interest by the United States.
263     3.  Bonds issued by the State of Israel.
264     4.  Bonds, stocks, or other evidences of indebtedness
265issued or guaranteed by a corporation organized under the laws
266of the United States, any state or organized territory of the
267United States, or the District of Columbia, provided:
268     a.  The corporation is listed on any one or more of the
269recognized national stock exchanges or on the National Market
270System of the NASDAQ Stock Market and, in the case of bonds
271only, holds a rating in one of the three highest classifications
272by a major rating service; and
273     b.  The board of trustees shall not invest more than 5
274percent of its assets in the common stock or capital stock of
275any one issuing company, nor shall the aggregate investment in
276any one issuing company exceed 5 percent of the outstanding
277capital stock of the company or the aggregate of its investments
278under this subparagraph at cost exceed 50 percent of the fund's
279assets.
280
281This paragraph shall apply to all boards of trustees and
282participants. However, in the event that a municipality has a
283duly enacted pension plan pursuant to, and in compliance with,
284s. 185.35 and the trustees thereof desire to vary the investment
285procedures herein, the trustees of such plan shall request a
286variance of the investment procedures as outlined herein only
287through a municipal ordinance or special act of the Legislature;
288where a special act, or a municipality by ordinance adopted
289prior to July 1, 1998, permits a greater than 50-percent equity
290investment, such municipality shall not be required to comply
291with the aggregate equity investment provisions of this
292paragraph. Notwithstanding any other provision of law to the
293contrary, nothing in this section may be construed to take away
294any preexisting legal authority to make equity investments that
295exceed the requirements of this paragraph. The board of trustees
296may invest up to 20 10 percent of plan assets in foreign
297securities.
298     (c)  Issue drafts upon the municipal police officers'
299retirement trust fund pursuant to this act and rules and
300regulations prescribed by the board of trustees. All such drafts
301shall be consecutively numbered, be signed by the chair and
302secretary or two individuals designated by the board who are
303subject to the same fiduciary standards as required for the
304board of trustees under this subsection, and state upon their
305faces the purposes for which the drafts are drawn. The city
306treasurer or other depository shall retain such drafts when
307paid, as permanent vouchers for disbursements made, and no money
308shall otherwise be drawn from the fund.
309     (d)  Finally decide all claims to relief under the board's
310rules and regulations and pursuant to the provisions of this
311act.
312     (e)  Convert into cash any securities of the fund.
313     (f)  Keep a complete record of all receipts and
314disbursements and of the board's acts and proceedings.
315     Section 6.  If any provision of this act or its application
316to any person or circumstance is held invalid, the invalidity
317does not affect other provisions or applications of the act
318which can be given effect without the invalid provision or
319application, and to this end the provisions of this act are
320severable.
321     Section 7.  This act shall take effect upon becoming a law.
322
323======= T I T L E  A M E N D M E N T ==========
324     Remove the entire title and insert:
325
A bill to be entitled
326An act relating to firefighter and municipal police pensions;
327amending s. 175.032, F.S.; redefining the term "firefighter";
328amending s. 175.061, F.S.; authorizing the terms of office for
329the board of trustees of the firefighters' pension trust fund to
330be revised under certain circumstances; authorizing the plan
331administrator to withhold funds to pay for premiums for
332accident, health, and long-term care insurance for the retiree
333and the retiree's spouse and dependents; providing an exemption
334from liability under certain circumstances; amending s. 175.071,
335F.S.; requiring the board of trustees to perform its powers
336subject to certain fiduciary standards and ethics provisions;
337increasing the percentage of assets of the firefighters' pension
338trust fund which the board of trustees may invest in foreign
339securities; authorizing certain individuals to sign drafts
340issued upon the firefighters' pension trust fund; amending s.
341185.05, F.S.; authorizing the terms of office for the board of
342trustees of the municipal police officers' retirement trust fund
343to be revised under certain circumstances; authorizing the plan
344administrator to withhold funds to pay for premiums for
345accident, health, and long-term care insurance for the retiree
346and the retiree's spouse and dependents; providing an exemption
347from liability under certain circumstances; amending s. 185.06,
348F.S.; requiring the board of trustees to perform its powers
349subject to certain fiduciary standards and ethics provisions;
350increasing the percentage of assets of the municipal police
351officers' retirement trust fund which the board of trustees may
352invest in foreign securities; authorizing certain individuals to
353sign drafts issued upon the municipal police officers'
354retirement trust fund; providing for severability; providing an
355effective date.


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