Florida Senate - 2015                          SENATOR AMENDMENT
       Bill No. CS for CS for HB 1309
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                Floor: 4/WD/2R         .                                
             04/24/2015 10:14 AM       .                                

       Senator Flores moved the following:
    1         Senate Amendment (with title amendment)
    3         Before line 14
    4  insert:
    5         Section 1. Subsections (5) and (14) of section 112.215,
    6  Florida Statutes, are amended to read:
    7         112.215 Government employees; deferred compensation
    8  program.—
    9         (5) Any county, municipality, or other political
   10  subdivision of the state may by ordinance, and any
   11  constitutional county officer under s. 1(d), Art. VIII of the
   12  State Constitution of 1968 may by contract agreement or other
   13  documentation constituting approval, adopt and establish for
   14  itself and its employees a deferred compensation program. The
   15  ordinance shall designate an appropriate official of the county,
   16  municipality, or political subdivision to approve and administer
   17  a deferred compensation plan or otherwise provide for such
   18  approval and administration. The ordinance shall also designate
   19  a public official or body to make the determinations provided
   20  for in paragraph (6)(b). If a constitutional county officer
   21  elects to adopt and establish for that office and its employees
   22  a deferred compensation program, the constitutional county
   23  officer shall be the appropriate official to make the
   24  determinations provided for in this subsection and in paragraph
   25  (6)(b).
   26         (a) A county, municipality, political subdivision, or
   27  constitutional county officer may not enter into a contract with
   28  an investment provider or recordkeeper for purposes of offering
   29  investment vehicles or products to participants in the deferred
   30  compensation program or recordkeeping services for the program
   31  for a term to exceed 5 years. Before the end of each contract
   32  term, the public official or body shall initiate a public bid
   33  for the procurement of investment providers and recordkeepers.
   34         (b) If the administrator of a deferred compensation program
   35  or any other person involved with the selection of an investment
   36  provider or recordkeeper has had any direct interest in any
   37  contract, privilege, or other benefit granted by the investment
   38  provider or recordkeeper in the preceding 2 years, he or she
   39  must abstain from participating in any decision regarding the
   40  selection of the investment provider or recordkeeper.
   41  Establishing a personal account with an investment provider or
   42  recordkeeper or taking a distribution from a personal account
   43  does not constitute a direct interest for purposes of this
   44  paragraph.
   45         (c) A county, municipality, or political subdivision that,
   46  or constitutional county officer who, establishes a deferred
   47  compensation plan may evaluate the performance of the plan
   48  administrator through an oversight committee. The oversight
   49  committee shall provide assistance and recommendations with
   50  respect to the administration of the plan, including, but not
   51  limited to, investment options offered under the plan. A county,
   52  municipality, or political subdivision or constitutional county
   53  officer shall determine the authority, activities, and
   54  composition of the oversight committee.
   55         (14) This section subsection may not impair an existing
   56  contract. In each county that has one or more constitutional
   57  county officers, the board of county commissioners and the
   58  constitutional county officers shall negotiate a joint deferred
   59  compensation program for all their respective employees under s.
   60  163.01. If all parties to the negotiation cannot agree upon a
   61  joint deferred compensation program, the provisions of
   62  subsection (5) apply.
   64  ================= T I T L E  A M E N D M E N T ================
   65  And the title is amended as follows:
   66         Delete line 2
   67  and insert:
   68         An act relating to retirement and deferred
   69         compensation plans for government employees; amending
   70         s. 112.215, F.S.; prohibiting contracts with
   71         investment providers and recordkeepers for local
   72         deferred compensation programs from exceeding a 5-year
   73         term; requiring a public official or body to initiate
   74         a public bid for investment providers and
   75         recordkeepers for local deferred compensation
   76         programs; prohibiting specified persons from
   77         participating in the selection of an investment
   78         provider or recordkeeper under certain circumstances;
   79         authorizing a public body or official that establishes
   80         a local deferred compensation program to organize an
   81         oversight committee;