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A bill to be entitled

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An act relating to retirement; amending s. 121.021, F.S.;

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redefining the term "compensation" to include certain

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supplementary payments made to firefighters, paramedics,

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and emergency medical technicians and certain employer-

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reported retirement contributions; redefining the term

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"average final compensation" with respect to members of

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the Special Risk Class of the Florida Retirement System;

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providing for contribution rate increases to fund the

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modification in average final compensation; amending s.

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121.0515, F.S.; authorizing certain employees to purchase

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additional retirement credit for past service at a 3-

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percent Special Risk Class accrual value; providing for

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contribution rate increases to fund the benefits provided

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in s. 121.0515, F.S., as amended; amending s. 121.091,

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F.S.; revising provisions relating to benefits payable for

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total and permanent disability for certain Special Risk

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Class members who are injured in the line of duty;

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authorizing reemployment of a person who retired with in-

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line-of-duty disability benefits by employers not

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participating in a state-administered retirement system;

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authorizing reemployment of a person who retired with in-

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line-of-duty disability benefits by an employer

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participating in a state-administered retirement system

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after 1 calendar month; providing for contribution rate

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increases to fund the benefits provided in s. 121.091,

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F.S., as amended; directing the Division of Statutory

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Revision to adjust the uniform contribution rates set

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forth in s. 121.71, F.S., to conform to the changes made

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by the act; requiring the Division of Retirement to

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request a letter ruling from the Internal Revenue Service;

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providing for certain contingent effect; providing

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legislative findings and a declaration of important state

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interest; providing effective dates.

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Be It Enacted by the Legislature of the State of Florida:

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     Section 1.  Paragraph (a) of subsection (22) and subsection

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(24) of section 121.021, Florida Statutes, are amended to read:

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     121.021  Definitions.--The following words and phrases as

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used in this chapter have the respective meanings set forth

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unless a different meaning is plainly required by the context:

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     (22)  "Compensation" means the monthly salary paid a member

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by his or her employer for work performed arising from that

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employment.

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     (a)  Compensation shall include:

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     1.  Overtime payments paid from a salary fund.

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     2.  Accumulated annual leave payments.

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     3.  Payments in addition to the employee's base rate of pay

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if all the following apply:

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     a.  The payments are paid according to a formal written

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policy that applies to all eligible employees equally;

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     b.  The policy provides that payments shall commence no

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later than the 11th year of employment;

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     c.  The payments are paid for as long as the employee

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continues his or her employment; and

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     d.  The payments are paid at least annually.

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     4.  Amounts withheld for tax sheltered annuities or deferred

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compensation programs, or any other type of salary reduction plan

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authorized under the Internal Revenue Code.

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     5.  Payments made in lieu of a permanent increase in the

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base rate of pay, whether made annually or in 12 or 26 equal

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payments within a 12-month period, when the member's base pay is

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at the maximum of his or her pay range. When a portion of a

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member's annual increase raises his or her pay range and the

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excess is paid as a lump sum payment, such lump sum payment shall

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be compensation for retirement purposes.

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     6.  Effective July 1, 2002, salary supplements made pursuant

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to s. 1012.72 requiring a valid National Board for Professional

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Standards certificate, notwithstanding the provisions of

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subparagraph 3.

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     7. Effective July 1, 2008, salary supplements made to

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firefighters, paramedics, or emergency medical technicians for

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the successful completion of employer-approved educational

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training or for additional job-related duties and

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responsibilities, notwithstanding the provisions of subparagraph

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3.

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     (24)  "Average final compensation" means the average of the

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5 highest fiscal years of compensation for creditable service

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prior to retirement, termination, or death; however, "average

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final compensation" applicable to a member of the Special Risk

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Class means the average of the 3 highest fiscal years of

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compensation for creditable service prior to retirement,

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termination, or death. For in-line-of-duty disability benefits,

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if less than the number of years of creditable service specified

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for calculating average final compensation has 5 years of

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creditable service have been completed, the term "average final

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compensation" means the average annual compensation of the total

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number of years of creditable service. Each year used in the

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calculation of average final compensation shall commence on July

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1.

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     (a)  The average final compensation shall include:

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     1.  Accumulated annual leave payments, not to exceed 500

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hours; and

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     2.  All payments defined as compensation in subsection (22).

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     (b)  The average final compensation shall not include:

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     1.  Compensation paid to professional persons for special or

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particular services;

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     2.  Payments for accumulated sick leave made due to

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retirement or termination;

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     3.  Payments for accumulated annual leave in excess of 500

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hours;

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     4.  Bonuses as defined in subsection (47);

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     5.  Third party payments made on and after July 1, 1990; or

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     6.  Fringe benefits (for example, automobile allowances or

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housing allowances).

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     Section 2. Effective July 1, 2008, for the purpose of

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funding the 3-year average final compensation benefit change made

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by section 1 of this act:

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     (1) The contribution rate that applies to the Special Risk

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Class of the Florida Retirement System shall be increased by 2.36

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percentage points.

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     (2) The contribution rate that applies to the Special Risk

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Administrative Support Class of the Florida Retirement System

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shall be increased by 2.54 percentage points.

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     (3) The contribution rate that applies to the legislative-

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attorney-Cabinet subclass of the Elected Officers' Class of the

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Florida Retirement System shall be increased by 0.01 percentage

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points.

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     (4) The contribution rate that applies to the Senior

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Management Service Class of the Florida Retirement System shall

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be increased by 0.01 percentage points.

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These increases shall be in addition to all other changes to

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contribution rates which may be enacted into law to take effect

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on that date. The Division of Statutory Revision is directed to

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adjust accordingly the contribution rates set forth in s. 121.71,

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Florida Statutes.

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     Section 3.  Subsection (5) of section 121.0515, Florida

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Statutes, is amended to read:

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     121.0515  Special risk membership.--

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     (5)  CREDIT FOR PAST SERVICE.--A special risk member may

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purchase retirement credit in the Special Risk Class based upon

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past service, and may upgrade retirement credit for such past

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service, to the extent of 3 2 percent of the member's average

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monthly compensation as specified in s. 121.091(1)(a) for such

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service as follows:

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     (a)  The member may purchase special risk credit for past

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service with a city or special district which has elected to join

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the Florida Retirement System, or with a participating agency to

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which a member's governmental unit was transferred, merged, or

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consolidated as provided in s. 121.081(1)(f), if the member was

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employed with the city or special district at the time it

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commenced participating in the Florida Retirement System or with

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the governmental unit at the time of its transfer, merger, or

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consolidation with the participating agency. The service must

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satisfy the criteria set forth in subsection (2) for special risk

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membership as a law enforcement officer, a firefighter, a or

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correctional officer, an emergency medical technician, or a

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paramedic whose employer was a licensed Advance Life Support

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(ALS) or Basic Life Support (BLS) provider; however, no

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certificate or waiver of certificate of compliance with s.

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943.1395 or s. 633.35 shall be required for such service.

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     (b)  Contributions for upgrading the additional special risk

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credit pursuant to this subsection shall be equal to the

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difference in the contributions paid and the special risk

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percentage rate of gross salary in effect at the time of purchase

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for the period being claimed, plus interest thereon at the rate

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of 4 percent a year compounded annually from the date of such

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service until July 1, 1975, and 6.5 percent a year thereafter

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until the date of payment. This past service may be purchased by

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the member or by the employer on behalf of the member.

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     Section 4. Effective July 1, 2008, in order to fund the

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benefit improvements provided in s. 121.0515, Florida Statutes,

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as amended by section 3 of this act, the contribution rate that

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applies to the Special Risk Class of the defined benefit program

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of the Florida Retirement System shall be increased by 0.07

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percentage points. This increase shall be in addition to all

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other changes to such contribution rates that may be enacted into

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law to take effect on that date. The Division of Statutory

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Revision is directed to adjust accordingly the contribution rates

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set forth in s. 121.71, Florida Statutes.

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     Section 5.  Paragraph (b) of subsection (4) and subsection

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(9) of section 121.091, Florida Statutes, are amended to read:

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     121.091  Benefits payable under the system.--Benefits may

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not be paid under this section unless the member has terminated

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employment as provided in s. 121.021(39)(a) or begun

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participation in the Deferred Retirement Option Program as

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provided in subsection (13), and a proper application has been

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filed in the manner prescribed by the department. The department

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may cancel an application for retirement benefits when the member

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or beneficiary fails to timely provide the information and

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documents required by this chapter and the department's rules.

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The department shall adopt rules establishing procedures for

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application for retirement benefits and for the cancellation of

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such application when the required information or documents are

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not received.

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     (4)  DISABILITY RETIREMENT BENEFIT.--

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     (b)  Total and permanent disability.--

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     1. Except as provided in subparagraph 2., a member shall be

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considered totally and permanently disabled if, in the opinion of

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the administrator, he or she is prevented, by reason of a

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medically determinable physical or mental impairment, from

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rendering useful and efficient service as an officer or employee.

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     2. A member of the Special Risk Class who is a law

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enforcement officer, firefighter, correctional officer, emergency

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medical technician, or paramedic as described in s.

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121.021(15)(c) or a community-based correctional probation

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officer as described in s. 121.021(15)(d)1. shall be considered

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totally and permanently disabled in the line of duty if he or she

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is prevented, by reason of a medically determinable physical or

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mental impairment caused by a job-related injury, from performing

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useful and efficient service in the position held, unless the

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administrator can provide competent medical evidence to the

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contrary.

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     (9)  EMPLOYMENT AFTER RETIREMENT; LIMITATION.--

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     (a)1. Except as provided in subparagraph 2., any person who

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is retired under this chapter, except under the disability

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retirement provisions of subsection (4), may be employed by an

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employer that does not participate in a state-administered

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retirement system and may receive compensation from that

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employment without limiting or restricting in any way the

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retirement benefits payable to that person.

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     2. Any member of the Special Risk Class who retired under

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the disability retirement provisions of subparagraph (4)(b)2. may

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be reemployed by any employer not participating in a state-

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administered retirement system in any position other than the

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position in which he or she was employed at the time of the

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disabling illness or injury and may receive compensation from

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that employment without limiting or restricting in any way the

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disability benefits payable to that person under the Florida

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Retirement System.

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     (b)1.a. Except as provided in sub-subparagraph b., any

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person who is retired under this chapter, except under the

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disability retirement provisions of subsection (4), may be

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reemployed by any private or public employer after retirement and

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receive retirement benefits and compensation from his or her

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employer without any limitations, except that a person may not

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receive both a salary from reemployment with any agency

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participating in the Florida Retirement System and retirement

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benefits under this chapter for a period of 12 months immediately

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subsequent to the date of retirement. However, a DROP participant

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shall continue employment and receive a salary during the period

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of participation in the Deferred Retirement Option Program, as

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provided in subsection (13).

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     b. Any member of the Special Risk Class who retired under

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the disability retirement provisions of subparagraph (4)(b)2. may

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be reemployed by any employer participating in a state-

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administered retirement system after having been retired for 1

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calendar month, in accordance with s. 121.021(39). After 1

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calendar month of retirement, any such retired member may be

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reemployed in any position other than the one in which he or she

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was employed at the time of disability retirement, may be

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reemployed in any position other than a position that is included

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in the Special Risk Class, and may receive compensation from that

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employment without limiting or restricting in any way the

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retirement benefits payable to that person under this chapter.

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Any retired member who is reemployed within 1 calendar month

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after retirement shall void his or her application for retirement

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benefits. Any retired member who is reemployed in a Special Risk

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Class position must terminate his or her disability retirement

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benefit effective the first day of the first month of

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reemployment in that position.

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     2.  Any person to whom the limitation in subparagraph 1.

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applies who violates such reemployment limitation and who is

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reemployed with any agency participating in the Florida

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Retirement System before completion of the 12-month limitation

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period shall give timely notice of this fact in writing to the

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employer and to the division and shall have his or her retirement

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benefits suspended for the balance of the 12-month limitation

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period. Any person employed in violation of this paragraph and

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any employing agency which knowingly employs or appoints such

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person without notifying the Division of Retirement to suspend

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retirement benefits shall be jointly and severally liable for

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reimbursement to the retirement trust fund of any benefits paid

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during the reemployment limitation period. To avoid liability,

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such employing agency shall have a written statement from the

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retiree that he or she is not retired from a state-administered

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retirement system. Any retirement benefits received while

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reemployed during this reemployment limitation period shall be

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repaid to the retirement trust fund, and retirement benefits

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shall remain suspended until such repayment has been made.

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Benefits suspended beyond the reemployment limitation shall apply

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toward repayment of benefits received in violation of the

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reemployment limitation.

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     3.  A district school board may reemploy a retired member as

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a substitute or hourly teacher, education paraprofessional,

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transportation assistant, bus driver, or food service worker on a

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noncontractual basis after he or she has been retired for 1

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calendar month, in accordance with s. 121.021(39). A district

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school board may reemploy a retired member as instructional

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personnel, as defined in s. 1012.01(2)(a), on an annual

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contractual basis after he or she has been retired for 1 calendar

284

month, in accordance with s. 121.021(39). Any other retired

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member who is reemployed within 1 calendar month after retirement

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shall void his or her application for retirement benefits.

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District school boards reemploying such teachers, education

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paraprofessionals, transportation assistants, bus drivers, or

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food service workers are subject to the retirement contribution

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required by subparagraph 7.

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     4.  A community college board of trustees may reemploy a

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retired member as an adjunct instructor, that is, an instructor

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who is noncontractual and part-time, or as a participant in a

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phased retirement program within the Florida Community College

295

System, after he or she has been retired for 1 calendar month, in

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accordance with s. 121.021(39). Any retired member who is

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reemployed within 1 calendar month after retirement shall void

298

his or her application for retirement benefits. Boards of

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trustees reemploying such instructors are subject to the

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retirement contribution required in subparagraph 7. A retired

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member may be reemployed as an adjunct instructor for no more

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than 780 hours during the first 12 months of retirement. Any

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retired member reemployed for more than 780 hours during the

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first 12 months of retirement shall give timely notice in writing

305

to the employer and to the division of the date he or she will

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exceed the limitation. The division shall suspend his or her

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retirement benefits for the remainder of the first 12 months of

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retirement. Any person employed in violation of this subparagraph

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and any employing agency which knowingly employs or appoints such

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person without notifying the Division of Retirement to suspend

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retirement benefits shall be jointly and severally liable for

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reimbursement to the retirement trust fund of any benefits paid

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during the reemployment limitation period. To avoid liability,

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such employing agency shall have a written statement from the

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retiree that he or she is not retired from a state-administered

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retirement system. Any retirement benefits received by a retired

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member while reemployed in excess of 780 hours during the first

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12 months of retirement shall be repaid to the Retirement System

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Trust Fund, and retirement benefits shall remain suspended until

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repayment is made. Benefits suspended beyond the end of the

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retired member's first 12 months of retirement shall apply toward

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repayment of benefits received in violation of the 780-hour

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reemployment limitation.

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     5.  The State University System may reemploy a retired

325

member as an adjunct faculty member or as a participant in a

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phased retirement program within the State University System

327

after the retired member has been retired for 1 calendar month,

328

in accordance with s. 121.021(39). Any retired member who is

329

reemployed within 1 calendar month after retirement shall void

330

his or her application for retirement benefits. The State

331

University System is subject to the retirement retired

332

contribution required in subparagraph 7., as appropriate. A

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retired member may be reemployed as an adjunct faculty member or

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a participant in a phased retirement program for no more than 780

335

hours during the first 12 months of his or her retirement. Any

336

retired member reemployed for more than 780 hours during the

337

first 12 months of retirement shall give timely notice in writing

338

to the employer and to the division of the date he or she will

339

exceed the limitation. The division shall suspend his or her

340

retirement benefits for the remainder of the first 12 months of

341

retirement. Any person employed in violation of this subparagraph

342

and any employing agency which knowingly employs or appoints such

343

person without notifying the Division of Retirement to suspend

344

retirement benefits shall be jointly and severally liable for

345

reimbursement to the retirement trust fund of any benefits paid

346

during the reemployment limitation period. To avoid liability,

347

such employing agency shall have a written statement from the

348

retiree that he or she is not retired from a state-administered

349

retirement system. Any retirement benefits received by a retired

350

member while reemployed in excess of 780 hours during the first

351

12 months of retirement shall be repaid to the Retirement System

352

Trust Fund, and retirement benefits shall remain suspended until

353

repayment is made. Benefits suspended beyond the end of the

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retired member's first 12 months of retirement shall apply toward

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repayment of benefits received in violation of the 780-hour

356

reemployment limitation.

357

     6.  The Board of Trustees of the Florida School for the Deaf

358

and the Blind may reemploy a retired member as a substitute

359

teacher, substitute residential instructor, or substitute nurse

360

on a noncontractual basis after he or she has been retired for 1

361

calendar month, in accordance with s. 121.021(39). Any retired

362

member who is reemployed within 1 calendar month after retirement

363

shall void his or her application for retirement benefits. The

364

Board of Trustees of the Florida School for the Deaf and the

365

Blind reemploying such teachers, residential instructors, or

366

nurses is subject to the retirement contribution required by

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subparagraph 7. Reemployment of a retired member as a substitute

368

teacher, substitute residential instructor, or substitute nurse

369

is limited to 780 hours during the first 12 months of his or her

370

retirement. Any retired member reemployed for more than 780 hours

371

during the first 12 months of retirement shall give timely notice

372

in writing to the employer and to the division of the date he or

373

she will exceed the limitation. The division shall suspend his or

374

her retirement benefits for the remainder of the first 12 months

375

of retirement. Any person employed in violation of this

376

subparagraph and any employing agency which knowingly employs or

377

appoints such person without notifying the Division of Retirement

378

to suspend retirement benefits shall be jointly and severally

379

liable for reimbursement to the retirement trust fund of any

380

benefits paid during the reemployment limitation period. To avoid

381

liability, such employing agency shall have a written statement

382

from the retiree that he or she is not retired from a state-

383

administered retirement system. Any retirement benefits received

384

by a retired member while reemployed in excess of 780 hours

385

during the first 12 months of retirement shall be repaid to the

386

Retirement System Trust Fund, and his or her retirement benefits

387

shall remain suspended until payment is made. Benefits suspended

388

beyond the end of the retired member's first 12 months of

389

retirement shall apply toward repayment of benefits received in

390

violation of the 780-hour reemployment limitation.

391

     7.  The employment by an employer of any retiree or DROP

392

participant of any state-administered retirement system shall

393

have no effect on the average final compensation or years of

394

creditable service of the retiree or DROP participant. Prior to

395

July 1, 1991, upon employment of any person, other than an

396

elected officer as provided in s. 121.053, who has been retired

397

under any state-administered retirement program, the employer

398

shall pay retirement contributions in an amount equal to the

399

unfunded actuarial liability portion of the employer contribution

400

which would be required for regular members of the Florida

401

Retirement System. Effective July 1, 1991, contributions shall be

402

made as provided in s. 121.122 for retirees with renewed

403

membership or subsection (13) with respect to DROP participants.

404

     8.  Any person who has previously retired and who is holding

405

an elective public office or an appointment to an elective public

406

office eligible for the Elected Officers' Class on or after July

407

1, 1990, shall be enrolled in the Florida Retirement System as

408

provided in s. 121.053(1)(b) or, if holding an elective public

409

office that does not qualify for the Elected Officers' Class on

410

or after July 1, 1991, shall be enrolled in the Florida

411

Retirement System as provided in s. 121.122, and shall continue

412

to receive retirement benefits as well as compensation for the

413

elected officer's service for as long as he or she remains in

414

elective office. However, any retired member who served in an

415

elective office prior to July 1, 1990, suspended his or her

416

retirement benefit, and had his or her Florida Retirement System

417

membership reinstated shall, upon retirement from such office,

418

have his or her retirement benefit recalculated to include the

419

additional service and compensation earned.

420

     9.  Any person who is holding an elective public office

421

which is covered by the Florida Retirement System and who is

422

concurrently employed in nonelected covered employment may elect

423

to retire while continuing employment in the elective public

424

office, provided that he or she shall be required to terminate

425

his or her nonelected covered employment. Any person who

426

exercises this election shall receive his or her retirement

427

benefits in addition to the compensation of the elective office

428

without regard to the time limitations otherwise provided in this

429

subsection. No person who seeks to exercise the provisions of

430

this subparagraph, as the same existed prior to May 3, 1984,

431

shall be deemed to be retired under those provisions, unless such

432

person is eligible to retire under the provisions of this

433

subparagraph, as amended by chapter 84-11, Laws of Florida.

434

     10.  The limitations of this paragraph apply to reemployment

435

in any capacity with an "employer" as defined in s. 121.021(10),

436

irrespective of the category of funds from which the person is

437

compensated.

438

     11. Except as provided in subparagraph 12., an employing

439

agency may reemploy a retired member as a firefighter or

440

paramedic after the retired member has been retired for 1

441

calendar month, in accordance with s. 121.021(39). Any retired

442

member who is reemployed within 1 calendar month after retirement

443

shall void his or her application for retirement benefits. The

444

employing agency reemploying such firefighter or paramedic is

445

subject to the retirement retired contribution required in

446

subparagraph 7. 8. Reemployment of a retired firefighter or

447

paramedic is limited to no more than 780 hours during the first

448

12 months of his or her retirement. Any retired member reemployed

449

for more than 780 hours during the first 12 months of retirement

450

shall give timely notice in writing to the employer and to the

451

division of the date he or she will exceed the limitation. The

452

division shall suspend his or her retirement benefits for the

453

remainder of the first 12 months of retirement. Any person

454

employed in violation of this subparagraph and any employing

455

agency which knowingly employs or appoints such person without

456

notifying the Division of Retirement to suspend retirement

457

benefits shall be jointly and severally liable for reimbursement

458

to the Retirement System Trust Fund of any benefits paid during

459

the reemployment limitation period. To avoid liability, such

460

employing agency shall have a written statement from the retiree

461

that he or she is not retired from a state-administered

462

retirement system. Any retirement benefits received by a retired

463

member while reemployed in excess of 780 hours during the first

464

12 months of retirement shall be repaid to the Retirement System

465

Trust Fund, and retirement benefits shall remain suspended until

466

repayment is made. Benefits suspended beyond the end of the

467

retired member's first 12 months of retirement shall apply toward

468

repayment of benefits received in violation of the 780-hour

469

reemployment limitation.

470

     12.a. An employing agency may reemploy a retired member who

471

retired under the disability provisions of subparagraph (4)(b)2.

472

as a law enforcement officer, firefighter, correctional officer,

473

emergency medical technician, paramedic, or community-based

474

correctional probation officer after the retired member has been

475

retired for 1 calendar month, in accordance with s. 121.021(39).

476

     b. Such retired member may not be reemployed with any

477

employer in the position he or she held at the time of the

478

disabling illness or injury and may not be reemployed in a

479

position that is included in the Special Risk Class.

480

     c. Any retired member who is reemployed within 1 calendar

481

month after retirement shall void his or her application for

482

retirement benefits. Any retired member who is reemployed in a

483

Special Risk Class position must terminate his or her disability

484

retirement benefit effective the first day of the first month of

485

reemployment in that position.

486

     d. The employing agency reemploying such a member is

487

subject to the retirement contribution required in subparagraph

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7.

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     (c)  The provisions of this subsection apply to retirees, as

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defined in s. 121.4501(2)(j), of the Public Employee Optional

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Retirement Program created in part II, subject to the following

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conditions:

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     1.  Such retirees may not be reemployed with an employer

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participating in the Florida Retirement System as provided in

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paragraph (b) until such person has been retired for 3 calendar

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months, unless the participant has reached the normal retirement

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requirements of the defined benefit plan as provided in s.

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121.021(29).

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     2.  Such retiree employed in violation of this subsection

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and any employing agency that knowingly employs or appoints such

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person shall be jointly and severally liable for reimbursement of

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any benefits paid to the retirement trust fund from which the

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benefits were paid, including the Retirement System Trust Fund

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and the Public Employee Optional Retirement Program Trust Fund,

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as appropriate. To avoid liability, such employing agency must

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have a written statement from the retiree that he or she is not

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retired from a state-administered retirement system.

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     Section 6. Effective July 1, 2008, in order to fund the

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benefit improvements provided in s. 121.091, Florida Statutes, as

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amended by section 5 of this act, the contribution rate that

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applies to the Special Risk Class of the defined benefit program

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of the Florida Retirement System shall be increased by 0.31

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percentage points. This increase shall be in addition to all

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other changes to such contribution rates that may be enacted into

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law to take effect on that date. The Division of Statutory

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Revision is directed to adjust accordingly the contribution rates

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set forth in s. 121.71, Florida Statutes.

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     Section 7. The Division of Retirement within the Department

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of Management Services shall request from the Internal Revenue

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Service, by October 1, 2008, a letter ruling regarding the

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provisions of s. 121.091, Florida Statutes, as amended by section

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5 of this act.

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     Section 8. The Legislature finds that a proper and

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legitimate state purpose is served when employees and retirees of

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the state and its political subdivisions, and the dependents,

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survivors, and beneficiaries of such employees and retirees, are

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extended the basic protections afforded by governmental

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retirement systems. These persons must be provided benefits that

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are fair and adequate and that are managed, administered, and

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funded in an actuarially sound manner, as required by s. 14, Art.

531

X of the State Constitution and part VII of chapter 112, Florida

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Statutes. The Legislature further finds that firefighters,

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emergency medical technicians, paramedics, law enforcement

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officers, correctional officers, and correctional probation

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officers, as described in this act, perform state and municipal

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functions; that it is their duty to protect life and property at

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their own risk and peril; that it is their duty to continuously

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instruct school personnel, public officials, and private citizens

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about safety; and that their activities are vital to the public

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safety. Therefore, the Legislature declares that it is a proper

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and legitimate state purpose to provide a uniform retirement

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system for the benefit of firefighters, emergency medical

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technicians, paramedics, law enforcement officers, correctional

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officers, and correctional probation officers, as defined in this

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act, and intends, in implementing the provisions of s. 14, Art. X

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of the State Constitution as they relate to municipal and special

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district pension trust fund systems and plans, that such

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retirement systems or plans be managed, administered, operated,

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and funded in such manner as to maximize the protection of

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pension trust funds. Therefore, pursuant to s. 18, Art. VII of

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the State Constitution, the Legislature determines and declares

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that this act fulfills an important state interest.

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     Section 9.  This act shall take effect July 1, 2008, except

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that the amendment of s. 121.091, Florida Statutes, in section 5

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of this act shall take effect upon the receipt of a favorable

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letter ruling from the Internal Revenue Service.