Florida Senate - 2014                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1114
       
       
       
       
       
       
                                Ì446396PÎ446396                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 1/AD/2R         .                                
             04/30/2014 11:30 AM       .                                
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       Senator Simpson moved the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 150 - 178
    4  and insert:
    5         (3) COMPULSORY INVESTMENT PLAN MEMBERSHIP.—Except for
    6  members of the Elected Officers’ Class who withdraw from the
    7  Florida Retirement System under s. 121.052(3)(d) or elect to
    8  participate in an optional retirement program under s.
    9  121.051(1)(a), s. 121.051(2)(c), or s. 121.35, or are described
   10  in s. 121.052(2)(a)2. or s. 121.052(2)(b), employees initially
   11  enrolled in the Florida Retirement System on or after July 1,
   12  2015, and whose first employment in a regularly established
   13  position is covered by the Elected Officers’ Class are
   14  compulsory members of the investment plan. Investment plan
   15  membership continues for a compulsory member even if the
   16  employee is subsequently employed in a position covered by
   17  another membership class. Membership in the pension plan by a
   18  compulsory member is not permitted except as provided in s.
   19  121.591(2).
   20         (a) Employees initially enrolled in the Florida Retirement
   21  System before July 1, 2015, may retain their membership in the
   22  pension plan or investment plan and are eligible to use the
   23  election opportunity specified in s. 121.4501(4)(f). Compulsory
   24  members are not eligible to use the election opportunity.
   25         (b) An employee eligible to withdraw from the system under
   26  s. 121.052(3)(d) may withdraw from the system, participate in
   27  the pension plan if not a compulsory member of the investment
   28  plan, or participate in the investment plan as provided under
   29  those provisions. An employee eligible for the optional
   30  retirement programs under paragraph (2)(c) or s. 121.35 may
   31  participate in the optional retirement program, participate in
   32  the pension plan if not a compulsory member, or participate in
   33  the investment plan as provided under those provisions. An
   34  eligible employee required to participate pursuant to paragraph
   35  (1)(a) in the optional retirement program as provided under s.
   36  121.35 must participate in the investment plan if employed in a
   37  position not eligible for the optional retirement program and
   38  otherwise meeting the requirements as a compulsory member of the
   39  investment plan.