CS/HB 1145 Summary

• Amends the West Palm Beach Police Pension Fund (chapter 24981, Laws of Florida) to revise Chapter 185 share account funding for calendar years 2011, 2012, and 2014.

• Establishes that Chapter 185 moneys received in 2011, 2012, and 2014 will be used to reduce employee contributions to 11 percent, with this provision effective only for those specified years.

• Beginning October 1, 2014, employee contributions return to 11 percent and Chapter 185 moneys received in 2013, 2015, and each subsequent calendar year will be allocated to share accounts instead of reducing contributions.

• Clarifies that Chapter 185 money is not considered employee contributions for purposes of refunds of contributions under section 19(b).

• If Chapter 185 moneys are insufficient to reduce member contributions to 11 percent, the City shall make up the difference.