FL H0049

Increases the maximum past service credit that Special Risk Class members can purchase from 2 percent to 3 percent of average monthly compensation.

Expands eligible service types to include emergency medical technicians and paramedics employed by licensed advanced life support or basic life support providers.

Requires contributions for the first 2 percent of credit to equal the difference in contributions paid plus interest at 4 percent annually until July 1, 1975, then 6.5 percent annually thereafter.

Establishes that credit in excess of 2 percent but not exceeding 3 percent requires contributions calculated by a department actuary using current Florida Retirement System actuarial assumptions and discount rates.

Allows either the member or employer to purchase the past service credit, with payment due immediately upon notification by the Division of Retirement; effective July 1, 2010.