Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. SPB 7042
       
       
       
       
       
       
                                Ì608998tÎ608998                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/10/2015           .                                
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       The Committee on Governmental Oversight and Accountability
       (Latvala) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 193 and 194
    4  insert:
    5         Section 3. Subsection (1) of section 121.111, Florida
    6  Statutes, is amended to read:
    7         121.111 Credit for military service.—
    8         (1) Creditable service of any member shall also include
    9  military service as defined in s. 121.021(20)(a) if:
   10         (a) The member is in the active employ of an employer
   11  immediately prior to such service and leaves a position, other
   12  than a temporary position, for the purpose of induction into the
   13  Armed Forces of the United States or entry upon duty in the
   14  Armed Forces of the United States. When applied to the Florida
   15  Retirement System:
   16         1. The term “position other than a temporary position”
   17  means a regularly established position with a Florida Retirement
   18  System employer; and
   19         2. A member shall be construed to have left his or her
   20  employment for military purposes if he or she reported for
   21  active duty within 60 days after leaving such employment;
   22         (b) The member is entitled to reemployment under the
   23  provisions of the Veterans’ Reemployment Rights Act (38 U.S.C.
   24  ss. 2021 et seq.);
   25         (c) The member applies for reemployment with the same
   26  employer within the time set forth in s. 2021 or s. 2024 of the
   27  Veterans’ Reemployment Rights Act, whichever is applicable, and
   28  is reemployed by such employer;
   29         (d)1.For service credit earned before July 1, 2015, the
   30  member makes the required employee contributions, if any, and
   31  the employer makes the required employer contributions for the
   32  employee’s membership class for each month of service credit
   33  during such period of military service, based upon the
   34  employee’s rate of monthly compensation as of the date that the
   35  employee left his or her position, plus 4 percent interest on
   36  such contributions compounded annually from the due date of the
   37  contribution until July 1, 1975, and 6.5 percent interest
   38  compounded annually thereafter, until the payment is made to the
   39  proper retirement trust fund; and
   40         2. For service credit earned on or after July 1, 2015, the
   41  employer makes the required employer and employee contributions
   42  for the employee’s membership class for each month of service
   43  credit during such period of military service, based upon the
   44  employee’s rate of monthly compensation as of the date that the
   45  employee left his or her position, plus 6.5 percent interest on
   46  such contributions compounded annually from the due date of the
   47  contribution until the payment is made to the Florida Retirement
   48  System Trust Fund; and
   49         (e) The period of service claimed pursuant to this
   50  subsection does not exceed the periods specified by the
   51  provisions of ss. 2021 and 2024 of the Veterans’ Reemployment
   52  Rights Act which are applicable in the member’s case.
   53  
   54  ================= T I T L E  A M E N D M E N T ================
   55  And the title is amended as follows:
   56         Delete line 10
   57  and insert:
   58         employed on or after a specified date; amending s.
   59         121.111, F.S.; requiring an employer to make employer
   60         and employee contributions towards credit for military
   61         service for service credit earned after a specified
   62         date; amending s.