Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 428
       
       
       
       
       
       
                                Ì660442~Î660442                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  03/07/2017           .                                
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       The Committee on Community Affairs (Clemens) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 17
    4  insert:
    5         Section 1. The Office of Program Policy Analysis and
    6  Government Accountability shall conduct a comprehensive study of
    7  the potential long-term impact on the financial condition of the
    8  Florida Retirement System, including estimates of unfunded
    9  actuarial liabilities, if the percentage of employees enrolling
   10  in the defined contribution plan increases as opposed to
   11  enrolling in the defined benefit plan. The State Board of
   12  Administration and the Division of Retirement of the Department
   13  of Management Services shall provide technical assistance to the
   14  office, as requested. The office shall submit a report of its
   15  findings to the Governor, the President of the Senate, and the
   16  Speaker of the House of Representatives by June 30, 2018. Upon
   17  submission of the report, this section shall expire.
   18  
   19  ================= T I T L E  A M E N D M E N T ================
   20  And the title is amended as follows:
   21         Delete lines 2 - 3
   22  and insert:
   23         An act relating to the Florida Retirement System;
   24         requiring the Office of Program Policy Analysis and
   25         Government Accountability to conduct a study of the
   26         potential long-term impact on the financial condition
   27         of the system based on changes in enrollment in the
   28         defined contribution and defined benefit plans;
   29         requiring the State Board of Administration and the
   30         Division of Retirement of the Department of Management
   31         Services to provide technical assistance, upon
   32         request; requiring the office to submit a report to
   33         the Governor and the Legislature by a specified date;
   34         providing for expiration; amending s. 121.051,