Florida Senate - 2013                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1392
       
       
       
       
       
       
                                Barcode 304922                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: WD/2R          .                                
             04/30/2013 01:42 PM       .                                
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       Senator Diaz de la Portilla moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 60 - 92
    4  and insert:
    5         (45) “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) Effective July 1, 2001, through June 30, 2011, a 6-year
   14  vesting requirement shall be implemented for the Florida
   15  Retirement System Pension Plan, as follows:
   16         (a)1. Any member employed in a regularly established
   17  position on July 1, 2001, who completes or has completed a total
   18  of 6 years of creditable service is considered vested.
   19         (b)2. Any member initially enrolled in the Florida
   20  Retirement System before July 1, 2001, but not employed in a
   21  regularly established position on July 1, 2001, is shall be
   22  deemed vested upon completion of 6 years of creditable service
   23  if such member is employed in a covered position for at least 1
   24  work year after July 1, 2001. However, a member is not required
   25  to complete more years of creditable service than would have
   26  been required for that member to vest under retirement laws in
   27  effect before July 1, 2001.
   28         (c)3. Any member initially enrolled in the Florida
   29  Retirement System on or after July 1, 2001, is through June 30,
   30  2011, shall be deemed vested upon completion of 6 years of
   31  creditable service.
   32         (b) Any member initially enrolled in the Florida Retirement
   33  System on or after July 1, 2011, shall be vested in the pension
   34  plan upon completion of 8 years of creditable service.
   35  
   36  ================= T I T L E  A M E N D M E N T ================
   37         And the title is amended as follows:
   38         Delete line 6
   39  and insert:
   40         is vested in the pension plan after 6 years of