Florida Senate - 2013                             (NP)    SB 586
       
       
       
       By Senator Joyner
       
       
       
       
       19-01487-13                                            2013586__
    1                        A bill to be entitled                      
    2         An act relating to the City of Tampa, Hillsborough
    3         County; amending chapter 23559, Laws of Florida, 1945,
    4         as amended; revising the General Employees’ Pension
    5         Plan for the City of Tampa; revising the definition of
    6         the term “Pension Credit”; providing an effective
    7         date.
    8  
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (K) of section 4 of chapter 23559,
   12  Laws of Florida, 1945, as amended by chapter 2004-431, Laws of
   13  Florida, is amended to read:
   14         Section 4. Definitions.
   15         (K) Pension Credit. Pension Credit shall refer to the
   16  minimum number of years necessary to have a vested pension. For
   17  the purposes of this Act, an Employee shall work 6 continuous
   18  years to earn Pension Credit, except that an Employee’s Pension
   19  Credit shall become nonforfeitable to the extent such Pension
   20  Credit is funded if the Plan is fully terminated or has a
   21  partial termination applicable to such Employee.
   22         Section 2. This act shall take effect upon becoming a law.