Florida Senate - 2011                          SENATOR AMENDMENT
       Bill No. SB 2100
       
       
       
       
       
       
                                Barcode 415282                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 4/AD/2R         .                                
             04/06/2011 05:55 PM       .                                
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       Senator Latvala moved the following:
       
    1         Senate Amendment (with directory amendment)
    2  
    3         Delete lines 591 - 607
    4  and insert:
    5         (45)(a) “Vested” or “vesting” means the guarantee that a
    6  member is eligible to receive a future retirement benefit upon
    7  completion of the required years of creditable service for the
    8  employee’s class of membership, even though the member may have
    9  terminated covered employment before reaching normal or early
   10  retirement date. Being vested does not entitle a member to a
   11  disability benefit. Provisions governing entitlement to
   12  disability benefits are set forth under s. 121.091(4).
   13         (a)(b) Effective July 1, 2001, and for members initially
   14  enrolled before July 1, 2011, a 6-year vesting requirement shall
   15  be implemented for the defined benefit program of the Florida
   16  Retirement System’s pension plan System. Pursuant thereto:
   17         1. Any member employed in a regularly established position
   18  on July 1, 2001, who completes or has completed a total of 6
   19  years of creditable service is shall be considered vested as
   20  described in paragraph (a).
   21         2. Any member not employed in a regularly established
   22  position on July 1, 2001, shall be deemed vested upon completion
   23  of 6 years of creditable service if, provided that such member
   24  is employed in a covered position for at least 1 work year after
   25  July 1, 2001. However, a no member may not shall be required to
   26  complete more years of creditable service than would have been
   27  required for that member to vest under retirement laws in effect
   28  before July 1, 2001.
   29         (b) Any member initially enrolled on or after July 1, 2011,
   30  is vested upon completion of 10 years of creditable service.
   31  
   32  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   33         And the directory clause is amended as follows:
   34         Delete lines 388 - 389
   35  and insert:
   36  (24), (29), (39), (45), (55), and (59) of section 121.021,
   37  Florida Statutes,