Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. PCS (172428) for SB 1128
                                Barcode 553532                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/17/2011           .                                

       The Committee on Governmental Oversight and Accountability
       (Ring) recommended the following:
    1         Senate Amendment (with title amendment)
    3         Delete lines 362 - 413
    4  and insert:
    5         (2) Except as provided in subsection (3), the premium tax
    6  provided by this chapter shall in all cases be used in its
    7  entirety to provide retirement extra benefits to police
    8  officers, or to police officers and firefighters if, where
    9  included. However, local law plans in effect on October 1, 1998,
   10  must shall be required to comply with the minimum benefit
   11  provisions of this chapter only to the extent that additional
   12  premium tax revenues become available to incrementally fund the
   13  cost of such compliance as provided in s. 185.16(2). If When a
   14  plan is in compliance with such minimum benefit provisions, as
   15  subsequent additional tax revenues become available, they shall
   16  be used to provide extra benefits, except as provided under
   17  subsection (1). For the purpose of this chapter, “additional
   18  premium tax revenues” means revenues received by a municipality
   19  pursuant to s. 185.10 which exceed the amount received for
   20  calendar year 1997, and the term “extra benefits” means benefits
   21  in addition to or greater than those provided to general
   22  employees of the municipality and in addition to those in
   23  existence for police officers on March 12, 1999. Local law plans
   24  created by special act before May 23, 1939, shall be deemed to
   25  comply with this chapter.
   26         (3) In a closed plan where police services have been
   27  transferred or merged with another governmental agency and the
   28  plan has fewer than five active members, the municipality may
   29  advance payment for purchasing an annuity contract applicable to
   30  the accrued liabilities of the plan. In such case, the board of
   31  trustees, as approved by the members, may authorize repayment
   32  from the future receipt of premium taxes; however, the plan may
   33  not be deemed fully funded until the full cost of the advanced
   34  payment has been returned to the municipality by the plan. This
   35  subsection does not preclude the continued receipt of premium
   36  tax to provide extra benefits for active or retired police
   37  officers as provided under subsection (2).
   39  retirement plan or amendment to a retirement plan may not shall
   40  be proposed for adoption unless the proposed plan or amendment
   41  contains an actuarial estimate of the costs involved. No Such
   42  proposed plan or proposed plan change may not shall be adopted
   43  without the approval of the municipality or, where permitted,
   44  the Legislature. Copies of the proposed plan or proposed plan
   45  change and the actuarial impact statement of the proposed plan
   46  or proposed plan change shall be furnished to the division
   47  before prior to the last public hearing thereon. Such statement
   48  must shall also indicate whether the proposed plan or proposed
   49  plan change is in compliance with s. 14, Art. X of the State
   50  Constitution and those provisions of part VII of chapter 112
   51  which are not expressly provided in this chapter.
   52  Notwithstanding any other provision, only those local law plans
   53  created by special act of legislation before prior to May 23,
   54  1939, are shall be deemed to meet the minimum benefits and
   55  minimum standards only in this chapter.
   56         (5)(3) Notwithstanding any other provision, with respect to
   57  any supplemental plan municipality:
   58         (a) Section 185.02(4)(a) does shall not apply, and a local
   59  law plan and a supplemental plan may continue to use their
   60  definition of compensation or salary in existence on March 12,
   61  1999 the effective date of this act.
   62         (b) Section 185.05(1)(b) does shall not apply, and a local
   63  law plan and a supplemental plan shall continue to be
   64  administered by a board or boards of trustees numbered,
   65  constituted, and selected as the board or boards were numbered,
   66  constituted, and selected on December 1, 2000.
   67         (c) The election set forth in paragraph (1)(b) is shall be
   68  deemed to have been made.
   69         (6)(4) The retirement plan setting forth the benefits and
   71  ================= T I T L E  A M E N D M E N T ================
   72         And the title is amended as follows:
   73         After line 26
   74  insert:
   75         authorizing a municipality to advance payment for
   76         purchasing an annuity contract for a closed plan;