House Bill 3491e2
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CS/CS/HB 3491, Second Engrossed
1 A bill to be entitled
2 An act relating to the Florida Retirement
3 System; amending s. 112.363, F.S.; increasing
4 the retiree health insurance subsidy payment
5 and the contribution rate; providing for
6 retroactive payments under certain
7 circumstances; amending s. 121.011, F.S.;
8 clarifying benefits payable under existing
9 systems; amending s. 121.021, F.S.; revising
10 and adding definitions; amending ss. 121.052,
11 121.055, and 121.071, F.S.; modifying the
12 statutory limit on the number of nonelective
13 full-time positions that may be designated by a
14 local agency employer for inclusion in the
15 Senior Management Service Class; changing
16 contribution rates for specified classes and
17 subclasses of the system and for the retiree
18 health insurance subsidy; amending s. 121.091,
19 F.S.; providing for benefit computations using
20 dual retirement ages for service in the Senior
21 Management Service Class and the Elected
22 Officer's Class; providing for nullification of
23 a joint annuitant designation in the event of
24 dissolution of marriage; providing for purchase
25 of additional service credit using a deceased
26 member's accumulated leave, out-of-state
27 service, or in-state service under certain
28 circumstances; specifying that a member's
29 spouse at the time of death shall be the
30 member's beneficiary under certain
31 circumstances; providing a directive to statute
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CS/CS/HB 3491, Second Engrossed
1 editors; amending s. 121.1122, F.S.; deleting
2 reference to nonsectarian schools and colleges;
3 amending s. 121.121, F.S.; providing for
4 eligibility to purchase retirement credit for
5 certain leaves of absence; amending s. 121.122,
6 F.S.; allowing members with renewed membership
7 in the Senior Management Service Class to
8 purchase additional retirement credit for
9 certain postretirement service; amending s.
10 121.30, F.S.; conforming to the Internal
11 Revenue Code; creating s. 121.133, F.S.;
12 providing intent; requiring the Comptroller to
13 cancel any benefit warrant issued from the
14 Florida Retirement System Trust Fund, or from
15 certain other pension trust funds, if such
16 warrants are not presented within a specified
17 timeframe; providing that such funds shall be
18 transferred and recredited to specified trust
19 funds; providing for issuance of replacement
20 warrants; amending s. 121.40, F.S.; changing
21 contribution rates for the supplemental
22 retirement plan for the Institute of Food and
23 Agricultural Sciences at the University of
24 Florida; repealing ss. 121.0505 and 121.0516,
25 F.S.; relating to duplicative contribution
26 rates; directing the Division of Statutory
27 Revision to make described adjustments to the
28 statutes with respect to contribution rates;
29 providing a finding of important state
30 interest; providing effective dates.
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CS/CS/HB 3491, Second Engrossed
1 Be It Enacted by the Legislature of the State of Florida:
2
3 Section 1. Subsection (9) of section 112.363, Florida
4 Statutes, is amended, paragraph (d) is added to subsection (3)
5 and paragraph (e) is added to subsection (8) of said section,
6 to read:
7 112.363 Retiree health insurance subsidy.--
8 (3) RETIREE HEALTH INSURANCE SUBSIDY AMOUNT.--
9 (d) Beginning January 1, 1999, each eligible retiree
10 or, if the retiree is deceased, his or her beneficiary who is
11 receiving a monthly benefit from such retiree's account and
12 who is a spouse, or a person who meets the definition of joint
13 annuitant in s. 121.021(28), shall receive a monthly retiree
14 health insurance subsidy payment equal to the number of years
15 of creditable service, as defined in s. 121.021(17), completed
16 at the time of retirement multiplied by $5; however, no
17 eligible retiree or such beneficiary may receive a subsidy
18 payment of more than $150 or less than $50. If there are
19 multiple beneficiaries, the total payment must not be greater
20 than the payment to which the retiree was entitled.
21 (8) CONTRIBUTIONS.--For purposes of funding the
22 insurance subsidy provided by this section:
23 (e) Beginning July 1, 1998, the employer of each
24 member of a state-administered retirement plan shall
25 contribute 0.94 percent of gross compensation each pay period.
26
27 Such contributions shall be submitted to the Division of
28 Retirement and deposited in the Retiree Health Insurance
29 Subsidy Trust Fund.
30 (9) BENEFITS.--Subsidy payments shall be payable under
31 the retiree health insurance subsidy program only to
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1 participants in the program or their beneficiaries, beginning
2 with the month the division receives certification of coverage
3 for health insurance for the eligible retiree or beneficiary.
4 If the division receives such certification at any time during
5 the 6 months after retirement benefits commence, the retiree
6 health insurance subsidy shall be paid retroactive to the
7 effective retirement date. If, however, the division receives
8 such certification 7 or more months after commencement of
9 benefits, the retroactive retiree health insurance subsidy
10 payment will cover a maximum of 6 months. Such subsidy
11 payments shall not be subject to assignment, execution, or
12 attachment or to any legal process whatsoever.
13 Section 2. Paragraph (b) of subsection (2) of section
14 121.011, Florida Statutes, is amended to read:
15 121.011 Florida Retirement System.--
16 (2) CONSOLIDATION OF EXISTING SYSTEMS AND LAWS.--
17 (b) The chapters or retirement system laws named in
18 paragraph (a) are hereby consolidated as separate instruments
19 appended to the "Florida Retirement System Act" established by
20 this chapter, and the administration of said chapters or
21 retirement systems shall be consolidated with the
22 administration of the Florida Retirement System established by
23 this chapter and the Florida Retirement System shall assume
24 all liabilities related to the payment of benefits to members
25 and their beneficiaries.
26 Section 3. Effective July 1, 1998, subsections (22),
27 (24), (28), (29), and (30) of section 121.021, Florida
28 Statutes, are amended, and subsections (45) through (54) are
29 added to said section, to read:
30
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1 121.021 Definitions.--The following words and phrases
2 as used in this chapter have the respective meanings set forth
3 unless a different meaning is plainly required by the context:
4 (22) "Compensation" means the monthly salary paid a
5 member by his or her employer for work performed arising from
6 that employment., including
7 (a) Compensation shall include:
8 1. Overtime payments paid from a salary fund., except
9 that:
10 2. Accumulated annual leave payments.
11 3. Payments in addition to the employee's base rate of
12 pay if all the following apply:
13 a. The payments are paid according to a formal written
14 policy that applies to all eligible employees equally;
15 b. The policy provides that payments shall commence no
16 later than the 11th year of employment;
17 c. The payments are paid for as long as the employee
18 continues his or her employment; and
19 d. The payments are paid at least annually.
20 4. Amounts withheld for tax sheltered annuities or
21 deferred compensation programs, or any other type of salary
22 reduction plan authorized under the Internal Revenue Code.
23 5. Payments made in lieu of a permanent increase in
24 the base rate of pay, whether made annually or in 12 or 26
25 equal payments within a 12-month period, when the member's
26 base pay is at the maximum of his or her pay range. When a
27 portion of a member's annual increase raises his or her pay
28 range and the excess is paid as a lump sum payment, such lump
29 sum payment shall be compensation for retirement purposes.
30 (b)(a) Under no circumstances shall compensation
31 include:
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1 1. Fees paid professional persons for special or
2 particular services or include salary payments made from a
3 faculty practice plan operated by rule of the Board of Regents
4 for eligible clinical faculty at the University of Florida and
5 the University of South Florida; or.
6 2. Any bonuses or other payments prohibited from
7 inclusion in the member's average final compensation and
8 defined in subsection (47).
9 (c)(b) For all purposes under this chapter, the
10 member's compensation or gross compensation contributed as
11 employee-elective salary reductions or deferrals to any salary
12 reduction, deferred compensation, or tax-sheltered annuity
13 program authorized under the Internal Revenue Code shall be
14 deemed to be the compensation or gross compensation which the
15 member would receive if he or she were not participating in
16 such program and shall be treated as compensation for
17 retirement purposes under this chapter. Any public funds
18 otherwise paid by an employer into an employee's salary
19 reduction, deferred compensation, or tax-sheltered annuity
20 program on or after July 1, 1990 (the date as of which all
21 employers were notified in writing by the division to cease
22 making contributions to the System Trust Fund based on such
23 amounts), shall be considered a fringe benefit and shall not
24 be treated as compensation for retirement purposes under this
25 chapter. However, if an employer was notified in writing by
26 the division to cease making such contributions as of a
27 different date, that employer shall be subject to the
28 requirements of said written notice.
29 (d)(c) For any person who first becomes a member on or
30 after July 1, 1996, compensation for any plan year shall not
31 include any amounts in excess of the s. 401(a)(17), Internal
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1 Revenue Code limitation (as amended by the Omnibus Budget
2 Reconciliation Act of 1993), which limitation of $150,000
3 effective July 1, 1996, shall be adjusted as required by
4 federal law for qualified government plans and shall be
5 further adjusted for changes in the cost of living in the
6 manner provided by s. 401(a)(17)(B), Internal Revenue Code.
7 For any person who first became a member prior to July 1,
8 1996, compensation for all plan years beginning on or after
9 July 1, 1990, shall not include any amounts in excess of the
10 compensation limitation (originally $200,000) established by
11 s. 401(a)(17), Internal Revenue Code prior to the Omnibus
12 Budget Reconciliation Act of 1993, which limitation shall be
13 adjusted for changes in the cost of living since 1989, in the
14 manner provided by s. 401(a)(17) of the Internal Revenue Code
15 of 1991. This limitation, which has been part of the Florida
16 Retirement System since plan years beginning on or after July
17 1, 1990, shall be adjusted as required by federal law for
18 qualified government plans.
19 (24) "Average final compensation" means the average of
20 the 5 highest fiscal years of compensation for creditable
21 service prior to retirement, termination, or death. For
22 in-line-of-duty disability benefits, if less than 5 years of
23 creditable service have been completed, the term "average
24 final compensation" means the average annual compensation of
25 the total number of years of creditable service. Each year
26 used in the calculation of average final compensation shall
27 commence on July 1.
28 (a) The average final compensation shall include:
29 1. Accumulated annual leave payments, not to exceed
30 500 hours; and
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1 2. All payments defined as compensation in subsection
2 (22).
3 (b) The average final compensation shall not include:
4 1. Compensation paid to professional persons for
5 special or particular services;
6 2. Payments for accumulated sick leave made due to
7 retirement or termination;
8 3. Payments for accumulated annual leave in excess of
9 500 hours;
10 4. Bonuses as defined in subsection (47);
11 5. Third party payments made on and after July 1,
12 1990; or
13 6. Fringe benefits (for example, automobile allowances
14 or housing allowances). The payment for accumulated sick
15 leave, accumulated annual leave in excess of 500 hours, and
16 bonuses, whether paid as salary or otherwise, shall not be
17 used in the calculation of the average final compensation.
18 (28) "Joint annuitant" or "dependent beneficiary"
19 means any person designated by the member to receive a
20 retirement benefit upon the member's death who is either:
21 (a) The spouse of the member;
22 (b) The member's natural or adopted child who is under
23 age 25, or is physically or mentally disabled and incapable of
24 self-support, regardless of age; or any person other than the
25 spouse for whom the member is the legal guardian, provided
26 that such person is under age 25 and is financially dependent
27 for no less than one-half of his or her support from the
28 member at retirement or at the time of death of such member,
29 whichever occurs first; or
30 (c) A parent or grandparent, or a person age 25 or
31 older for whom the member is the legal guardian, provided that
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1 such parent, grandparent, or other person is financially
2 dependent for no less than one-half of his or her support from
3 the member at retirement or at time of the death of such
4 member, whichever occurs first.
5 (29) "Normal retirement date" means the first day of
6 any month following the date a member attains one of the
7 following statuses:
8 (a) If a Regular Class member, the member:
9 1. Completes 10 or more years of creditable service
10 and attains age 62; or
11 2.(b) Completes 30 years of creditable service,
12 regardless of age, which may include a maximum of 4 years of
13 military service credit as, so long as such credit is not
14 claimed under any other system., regardless of age;
15 (b)(c) If a Special Risk Class member, the member:
16 1. Completes 10 or more years of creditable service in
17 the Special Risk Class and attains age 55;
18 2. Completes 25 years of creditable service in the
19 Special Risk Class, regardless of age; or
20 3. Completes 25 years of creditable service and
21 attains age 52, which service may include a maximum of 4 years
22 of military service credit as long as such credit is not
23 claimed under any other system and the remaining years are in
24 the Special Risk Class., and attains age 52; or
25 (c)(d) If a Senior Management Service Class member,
26 the member:
27 1. Completes 7 years of creditable service in the
28 Senior Management Service Class and attains age 62; or
29 2. Completes 30 years of any creditable service,
30 regardless of age, which may include a maximum of 4 years of
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1 military service credit as long as such credit is not claimed
2 under any other system; or, regardless of age.
3 (d) If an Elected State County Officers' Class member,
4 the member:
5 1. Completes 8 years of creditable service in the
6 Elected State and County Officers' Class and attains age 62;
7 or
8 2. Completes 30 years of any creditable service,
9 regardless of age, which may include a maximum of 4 years of
10 military service credit as long as such credit is not claimed
11 under any other system.
12
13 "Normal retirement age" is attained on the "normal retirement
14 date."
15 (30) "Early retirement date" means the first day of
16 the month following the date a member becomes vested completes
17 10 years of creditable service and elects to receive
18 retirement benefits in accordance with this chapter. Such
19 benefits shall be based on average monthly compensation and
20 creditable service as of the member's early retirement date,
21 and the benefit so computed shall be reduced by five-twelfths
22 of 1 percent for each complete month by which the early
23 retirement date precedes his or her normal retirement date as
24 provided in s. 121.091(3).
25 (45) "Vested" or "vesting" means the guarantee that a
26 member is eligible to receive a future retirement benefit upon
27 completion of the required years of creditable service for the
28 employee's class of membership even though the member may have
29 terminated covered employment before reaching normal or early
30 retirement date. Being vested does not entitle a member to a
31 disability benefit based on a disability caused by an injury
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CS/CS/HB 3491, Second Engrossed
1 or disease that occurs after termination of covered
2 employment.
3 (46) "Beneficiary" means the joint annuitant or any
4 other person, organization, estate, or trust fund designated
5 by the member to receive a retirement benefit, if any, which
6 may be payable upon the member's death.
7 (47) "Bonus" means a payment made in addition to an
8 employee's regular or overtime salary. A bonus is usually
9 nonrecurring, does not increase the employee's base rate of
10 pay, and includes no commitment for payment in a subsequent
11 year. Such payments are not considered compensation. Effective
12 July 1, 1989, employers may not report such payments to the
13 division as salary, and may not make retirement contributions
14 on such payments.
15 (a) A payment is a bonus if any of the following
16 circumstances apply:
17 1. The payment is not made according to a formal
18 written policy that applies to all eligible employees equally.
19 2. The payment commences later than the 11th year of
20 employment.
21 3. The payment is not based on permanent eligibility.
22 4. The payment is made less frequently than annually.
23 (b) Bonuses shall include, but not be limited to, the
24 following:
25 1. Exit bonus or severance pay.
26 2. Longevity payments in conformance with the
27 provisions of paragraph (a).
28 3. Salary increases granted pursuant to an employee's
29 agreement to retire, including increases paid over several
30 months or years prior to retirement.
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1 4. Payments for accumulated overtime or compensatory
2 time, reserve time, or holiday time worked, if not made within
3 11 months of the month in which the work was performed.
4 5. Quality Instruction Incentives Program (QUIIP)
5 Payments.
6 6. Lump sum payments in recognition of employees'
7 accomplishments.
8 (48) "Accumulated annual leave payment" means any
9 payment, made either during an employee's employment or at
10 termination or retirement, for leave accrued during such
11 employee's career, which leave was intended for, but never
12 utilized by the employee for, his or her personal use. General
13 leave, which may be used for both sickness and vacation, is
14 considered accumulated annual leave. When leave is initially
15 accrued separately as annual leave or sick leave and is later
16 combined into a consolidated leave account, only the payment
17 for that portion of the account which represents annual leave
18 shall be considered as compensation. If any single lump-sum
19 annual leave payment, made at anytime during a member's
20 employment, exceeds 500 hours, only a maximum of 500 hours of
21 such annual leave payment shall be considered as compensation.
22 (49) "Accumulated sick leave payment" means leave
23 accrued during an employee's career which was intended for use
24 in the event of sickness, injury, or other health problems of
25 a member or his or her family. General leave which may be used
26 for both sickness and vacation is not considered sick leave.
27 When leave is initially accrued separately as annual leave or
28 sick leave and is later combined into a consolidated leave
29 account, the payment for that portion of the account which
30 represents sick leave shall not be considered compensation.
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1 (50) "Independent contractor" means an individual who
2 is not subject to the control and direction of the employer
3 for whom work is being performed, with respect not only to
4 what shall be done but to how it shall be done. If the
5 employer has the right to exert such control, an
6 employee-employer relationship exists, and, for purposes of
7 this chapter, the person is an employee and not an independent
8 contractor. The division shall adopt rules providing criteria
9 for determining whether an individual is an employee or an
10 independent contractor.
11 (51) "Previous service" means the number of years,
12 complete months, and any fractional part of a month, as
13 recognized and credited by an employer and approved by the
14 administrator, of service under one of the retirement systems
15 established by this chapter, chapter 122, former chapter 123,
16 chapter 238, or chapter 321, on which the required
17 contributions were paid at the member's termination of
18 employment, and for which the member has received no refund of
19 contributions.
20 (52) "Regularly established position" is defined as
21 follows:
22 (a) In a state agency, the term means a position which
23 is authorized and established pursuant to law and is
24 compensated from a salaries appropriation pursuant to s.
25 216.011(1)(x)1. and 2., or an established position which is
26 authorized pursuant to s. 216.262(1)(a) and (b) and is
27 compensated from a salaries account as provided by rule.
28 (b) In a local agency (district school board, county
29 agency, community college, city, or special district), the
30 term means a regularly established position which will be in
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1 existence for a period beyond 6 consecutive months, except as
2 provided by rule.
3 (53) "Temporary position" is defined as follows:
4 (a) In a state agency, the term means an employment
5 position which is compensated from an other personal services
6 (OPS) account, as provided for in s. 216.011(1)(x).
7 (b) In a local agency, the term means an employment
8 position which will exist for less than 6 consecutive months,
9 or other employment position as determined by rule of the
10 division, regardless of whether it will exist for 6
11 consecutive months or longer.
12 (54) "Work year" means the period of time an employee
13 is required to work to receive a full year of retirement
14 credit, as provided by rule.
15 Section 4. Paragraphs (a) and (c) of subsection (7) of
16 section 121.052, Florida Statutes, are amended to read:
17 121.052 Membership class of elected state and county
18 officers.--
19 (7) CONTRIBUTIONS.--
20 (a) The following table states the required retirement
21 contribution rates for members of the Elected State and County
22 Officers' Class and their employers in terms of a percentage
23 of the member's gross compensation. A change in a contribution
24 rate is effective with the first salary paid on or after the
25 beginning date of the change. Contributions shall be made or
26 deducted as may be appropriate for each pay period and are in
27 addition to the contributions required for social security and
28 the Retiree Health Insurance Subsidy Trust Fund.
29
30 Dates of Contribution
31 Rate Changes Members Employers
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1
2 July 1, 1972, through September 30, 1977
3 Legislators 8% 8%
4 All Other Members 8% 8%
5
6 October 1, 1977, through September 30, 1978
7 Legislators 8% 8%
8 All Other Members 4% 12%
9
10 October 1, 1978, through September 30, 1979
11 Legislators 8% 10.57%
12 All Other Members 4% 16.78%
13
14 October 1, 1979, through September 30, 1981
15 Legislators 8% 10.57%
16 Governor, Lt. Governor, Cabinet
17 Officers 4% 16.78%
18 All Other Members 0% 20.78%
19
20 July 1, 1981, through June 30, 1984
21 County Elected Officers 0% 19.30%
22
23 July 1, 1984, through September 30, 1984
24 County Elected Officers 0% 20.25%
25
26 October 1, 1981, through September 30, 1984
27 Legislators 0% 19.30%
28 Governor, Lt. Governor, Cabinet
29 Officers 0% 21.03%
30 State Attorneys, Public Defenders 0% 20.95%
31 Justices, Judges 0% 22.55%
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1
2 October 1, 1984, through September 30, 1986
3 Legislators 0% 10.98%
4 Governor, Lt. Governor, Cabinet
5 Officers 0% 10.98%
6 State Attorneys, Public Defenders 0% 10.98%
7 Justices, Judges 0% 21.79%
8 County Elected Officers 0% 16.97%
9
10 October 1, 1986, through December 31, 1988
11 Legislators 0% 11.50%
12 Governor, Lt. Governor, Cabinet
13 Officers 0% 11.50%
14 State Attorneys, Public Defenders 0% 11.50%
15 Justices, Judges 0% 20.94%
16 County Elected Officers 0% 17.19%
17
18 January 1, 1989, through December 31, 1989
19 Legislators 0% 13.70%
20 Governor, Lt. Governor, Cabinet
21 Officers 0% 13.70%
22 State Attorneys, Public Defenders 0% 13.70%
23 Justices, Judges 0% 22.58%
24 County Elected Officers 0% 18.44%
25
26 January 1, 1990, through December 31, 1990
27 Legislators 0% 15.91%
28 Governor, Lt. Governor, Cabinet
29 Officers 0% 15.91%
30 State Attorneys, Public Defenders 0% 15.91%
31 Justices, Judges 0% 24.22%
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1 County Elected Officers 0% 19.71%
2
3 January 1, 1991, through December 31, 1991
4 Legislators 0% 17.73%
5 Governor, Lt. Governor, Cabinet
6 Officers 0% 17.73%
7 State Attorneys, Public Defenders 0% 17.73%
8 Justices, Judges 0% 26.63%
9 County Elected Officers 0% 23.32%
10
11 January 1, 1992, through December 31, 1992
12 Legislators 0% 19.94%
13 Governor, Lt. Governor, Cabinet
14 Officers 0% 19.94%
15 State Attorneys, Public Defenders 0% 19.94%
16 Justices, Judges 0% 28.27%
17 County Elected Officers 0% 24.59%
18
19 January 1, 1993, through December 31, 1993
20 Legislators 0% 22.14%
21 Governor, Lt. Governor, Cabinet
22 Officers 0% 22.14%
23 State Attorneys, Public Defenders 0% 22.14%
24 Justices, Judges 0% 29.91%
25 County Elected Officers 0% 25.84%
26
27 January 1, 1994, through December 31, 1994
28 Legislators 0% 22.65%
29 Governor, Lt. Governor, Cabinet
30 Officers 0% 22.65%
31 State Attorneys, Public Defenders 0% 22.65%
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1 Justices, Judges 0% 30.52%
2 County Elected Officers 0% 26.07%
3
4 January 1, 1995, through December 31, 1995
5 Legislators 0% 22.80%
6 Governor, Lt. Governor, Cabinet
7 Officers 0% 22.80%
8 State Attorneys, Public Defenders 0% 22.80%
9 Justices, Judges 0% 30.21%
10 County Elected Officers 0% 27.48%
11
12 January 1, 1996, through June 30, 1996
13 Legislators 0% 22.90%
14 Governor, Lt. Governor, Cabinet
15 Officers 0% 22.90%
16 State Attorneys, Public Defenders 0% 22.90%
17 Justices, Judges 0% 30.15%
18 County Elected Officers 0% 27.54%
19
20 Effective July 1, 1996, through June 30, 1998
21 Legislators 0% 23.07%
22 Governor, Lt. Governor, Cabinet
23 Officers 0% 23.07%
24 State Attorneys, Public Defenders 0% 23.07%
25 Justices, Judges 0% 29.55%
26 County Elected Officers 0% 27.33%
27
28 Effective July 1, 1998
29 Legislators 0% 22.33%
30 Governor, Lt. Governor, Cabinet Officers 0% 22.33%
31 State Attorneys, Public Defenders 0% 22.33%
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1 Justices, Judges 0% 27.21%
2 County elected officers 0% 26.99%
3
4 (c) The following table states the required employer
5 contribution on behalf of each member of the Elected State and
6 County Officers' Class in terms of a percentage of the
7 member's gross compensation. Such contribution constitutes the
8 entire health insurance subsidy contribution with respect to
9 the member. A change in the contribution rate is effective
10 with the first salary paid on or after the beginning date of
11 the change. The retiree health insurance subsidy contribution
12 rate is as follows:
13
14 Dates of Contribution Contribution
15 Rate Changes Rate
16
17 October 1, 1987, through December 31, 1988 0.24%
18 January 1, 1989, through December 31, 1993 0.48%
19 January 1, 1994, through December 31, 1994 0.56%
20 Effective January 1, 1995, through June 30,
21 1998 0.66%
22 Effective July 1, 1998 0.94%
23
24 Such contributions shall be deposited by the administrator in
25 the Retiree Health Insurance Subsidy Trust Fund.
26 Section 5. Paragraph (b) of subsection (1) and
27 paragraphs (a) and (c) of subsection (3) of section 121.055,
28 Florida Statutes, are amended to read:
29 121.055 Senior Management Service Class.--There is
30 hereby established a separate class of membership within the
31 Florida Retirement System to be known as the "Senior
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1 Management Service Class," which shall become effective
2 February 1, 1987.
3 (1)
4 (b)1. Except as provided in subparagraph 2., effective
5 January 1, 1990, participation in the Senior Management
6 Service Class shall be compulsory for the president of each
7 community college, the manager of each participating city or
8 county, and all appointed district school superintendents.
9 Effective January 1, 1994, additional positions may be
10 designated for inclusion in the Senior Management Service
11 Class of the Florida Retirement System, provided that:
12 a. Positions to be included in the class shall be
13 designated by the local agency employer. Notice of intent to
14 designate positions for inclusion in the class shall be
15 published once a week for 2 consecutive weeks in a newspaper
16 of general circulation published in the county or counties
17 affected, as provided in chapter 50.
18 b. One nonelective full-time position may be
19 designated for each local agency employer reporting to the
20 Division of Retirement; for local agencies with 100 200 or
21 more regularly established positions, additional nonelective
22 full-time positions may be designated, not to exceed 1 0.5
23 percent of the regularly established positions within the
24 agency.
25 c. Each position added to the class must be a
26 managerial or policymaking position filled by an employee who
27 is not subject to continuing contract and serves at the
28 pleasure of the local agency employer without civil service
29 protection, and who:
30 (I) Heads an organizational unit; or
31
20
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CS/CS/HB 3491, Second Engrossed
1 (II) Has responsibility to effect or recommend
2 personnel, budget, expenditure, or policy decisions in his or
3 her areas of responsibility.
4 2. In lieu of participation in the Senior Management
5 Service Class, members of the Senior Management Service Class
6 pursuant to the provisions of subparagraph 1. may withdraw
7 from the Florida Retirement System altogether and participate
8 in a lifetime monthly annuity program which may be provided by
9 the employing agency. The cost to the employer for such
10 annuity shall equal the normal cost portion of the
11 contributions required in the Senior Management Service Class.
12 The employer providing such annuity shall contribute an
13 additional amount to the Florida Retirement System Trust Fund
14 equal to the unfunded actuarial accrued liability portion of
15 the Senior Management Service Class contribution rate. The
16 decision to participate in such local government annuity shall
17 be irrevocable for as long as the employee holds a position
18 eligible for the annuity. Any service creditable under the
19 Senior Management Service Class shall be retained after the
20 member withdraws from the Florida Retirement System; however,
21 additional service credit in the Senior Management Service
22 Class shall not be earned after such withdrawal. Such members
23 shall not be eligible to participate in the Senior Management
24 Service Optional Annuity Program.
25 (3)(a) The following table states the required
26 retirement contribution rates for members of the Senior
27 Management Service Class and their employers in terms of a
28 percentage of the member's gross compensation. A change in
29 the contribution rate is effective with the first salary paid
30 on or after the beginning date of the change. Contributions
31 shall be made for each pay period and are in addition to the
21
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CS/CS/HB 3491, Second Engrossed
1 contributions required for social security and the Retiree
2 Health Insurance Subsidy Trust Fund.
3
4 Dates of Contribution
5 Rate Changes Members Employers
6
7 February 1, 1987, through
8 December 31, 1988 0% 13.88%
9 January 1, 1989, through
10 December 31, 1989 0% 14.95%
11 January 1, 1990, through
12 December 31, 1990 0% 16.04%
13 January 1, 1991, through
14 December 31, 1991 0% 18.39%
15 January 1, 1992, through
16 December 31, 1992 0% 19.48%
17 January 1, 1993, through
18 December 31, 1993 0% 20.55%
19 January 1, 1994, through
20 December 31, 1994 0% 23.07%
21 January 1, 1995, through
22 December 31, 1995 0% 23.88%
23 January 1, 1996, through
24 June 30, 1996 0% 24.14%
25 Effective July 1, 1996, through June 30,
26 1998 0% 21.58%
27 Effective July 1, 1998 0% 23.10%
28
29
30 (c) The following table states the required employer
31 contribution on behalf of each member of the Senior Management
22
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CS/CS/HB 3491, Second Engrossed
1 Service Class in terms of a percentage of the member's gross
2 compensation. Such contribution constitutes the entire health
3 insurance subsidy contribution with respect to the member. A
4 change in the contribution rate is effective with the first
5 salary paid on or after the beginning date of the change. The
6 retiree health insurance subsidy contribution rate is as
7 follows:
8
9 Dates of Contribution Contribution
10 Rate Changes Rate
11
12 October 1, 1987, through December 31, 1988 0.24%
13 January 1, 1989, through December 31, 1993 0.48%
14 January 1, 1994, through December 31, 1994 0.56%
15 Effective January 1, 1995, through June 30,
16 1998 0.66%
17 Effective July 1, 1998 0.94%
18
19 Such contributions shall be deposited by the administrator in
20 the Retiree Health Insurance Subsidy Trust Fund.
21 Section 6. Subsections (1) and (4) of section 121.071,
22 Florida Statutes, are amended to read:
23 121.071 Contributions.--Contributions to the system
24 shall be made as follows:
25 (1) The following tables state the required retirement
26 contribution rates for members of the Regular Class, Special
27 Risk Class, or Special Risk Administrative Support Class and
28 their employers in terms of a percentage of the member's gross
29 compensation. A change in a contribution rate is effective
30 with the first salary paid on or after the beginning date of
31 the change. Contributions shall be made or deducted as may be
23
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CS/CS/HB 3491, Second Engrossed
1 appropriate for each pay period and are in addition to the
2 contributions required for social security and the Retiree
3 Health Insurance Subsidy Trust Fund.
4 (a) Retirement contributions for regular members are
5 as follows:
6
7 Dates of Contribution
8 Rate Changes Members Employers
9
10 December 1, 1970, through December
11 31, 1974, for state agencies, state
12 universities, community colleges,
13 and district school boards 4% 4%
14
15 December 1, 1970, through September
16 30, 1975, for all other local
17 government agencies 4% 4%
18
19 January 1, 1975, through September
20 30, 1978, for state agencies and
21 state universities 0% 9%
22
23 January 1, 1975, through July 31,
24 1978, for community colleges and
25 district school boards 0% 9%
26
27 October 1, 1975, through September
28 30, 1978, for all other local
29 government agencies 0% 9%
30
31
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CS/CS/HB 3491, Second Engrossed
1
2 August 1, 1978, through September 30,
3 1981, for community colleges and
4 district school boards 0% 9.1%
5
6 October 1, 1978, through September
7 30, 1981, for all other agencies 0% 9.1%
8
9 October 1, 1981, through
10 September 30, 1984 0% 10.93%
11 October 1, 1984, through
12 September 30, 1986 0% 12.24%
13 October 1, 1986, through
14 December 31, 1988 0% 13.14%
15 January 1, 1989, through
16 December 31, 1989 0% 13.90%
17 January 1, 1990, through
18 December 31, 1990 0% 14.66%
19 January 1, 1991, through
20 December 31, 1991 0% 15.72%
21 January 1, 1992, through
22 December 31, 1992 0% 16.51%
23 January 1, 1993, through
24 December 31, 1993 0% 17.27%
25 January 1, 1994, through
26 December 31, 1994 0% 17.10%
27 January 1, 1995, through
28 December 31, 1995 0% 16.91%
29 January 1, 1996, through
30 June 30, 1996 0% 17.00%
31
25
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CS/CS/HB 3491, Second Engrossed
1 Effective July 1, 1996, through June 30,
2 1998 0% 16.77%
3 Effective July 1, 1998 0% 15.51%
4
5 (b) Retirement contributions for special risk members
6 are as follows:
7
8 Dates of Contribution
9 Rate Changes Members Employers
10
11 December 1, 1970, through
12 September 30, 1974 6% 6%
13
14 October 1, 1974, through December 31,
15 1974, for state agencies, state
16 universities, community colleges,
17 and district school boards 8% 8%
18
19 October 1, 1974, through September
20 30, 1975, for all other local
21 government agencies 8% 8%
22
23 January 1, 1975, through September
24 30, 1978, for state agencies, state
25 universities, community colleges,
26 and district school boards 0% 13%
27
28 October 1, 1975, through September
29 30, 1978, for other local
30 government agencies 0% 13%
31
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CS/CS/HB 3491, Second Engrossed
1 October 1, 1978, through
2 September 30, 1981 0% 13.95%
3 October 1, 1981, through
4 September 30, 1984 0% 13.91%
5 October 1, 1984, through
6 September 30, 1986 0% 14.67%
7 October 1, 1986, through
8 December 31, 1988 0% 15.11%
9 January 1, 1989, through
10 December 31, 1989 0% 17.50%
11 January 1, 1990, through
12 December 31, 1990 0% 19.90%
13 January 1, 1991, through
14 December 31, 1991 0% 25.52%
15 January 1, 1992, through
16 December 31, 1992 0% 26.35%
17 January 1, 1993, through
18 December 31, 1993 0% 27.14%
19 January 1, 1994, through
20 December 31, 1994 0% 27.03%
21 January 1, 1995, through
22 December 31, 1995 0% 26.83%
23 January 1, 1996, through
24 June 30, 1996 0% 26.84%
25 Effective July 1, 1996, through June 30,
26 1998 0% 26.44%
27 Effective July 1, 1998 0% 24.38%
28
29 (c) Retirement contributions for special risk
30 administrative support members are as follows:
31
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CS/CS/HB 3491, Second Engrossed
1 Dates of Contribution
2 Rate Changes Members Employers
3
4 July 1, 1982, through
5 September 30, 1984 0% 11.14%
6 October 1, 1984, through
7 September 30, 1986 0% 13.09%
8 October 1, 1986, through
9 December 31, 1988 0% 15.44%
10 January 1, 1989, through
11 December 31, 1989 0% 14.76%
12 January 1, 1990, through
13 December 31, 1990 0% 14.09%
14 January 1, 1991, through
15 December 31, 1991 0% 20.16%
16 January 1, 1992, through
17 December 31, 1992 0% 19.51%
18 January 1, 1993, through
19 December 31, 1993 0% 18.83%
20 January 1, 1994, through
21 December 31, 1994 0% 18.59%
22 January 1, 1995, through
23 December 31, 1995 0% 17.81%
24 January 1, 1996, through
25 June 30, 1996 0% 17.80%
26 Effective July 1, 1996, through June 30,
27 1998 0% 17.20%
28 Effective July 1, 1998 0% 14.64%
29
30 (4) The following table states the required employer
31 contribution on behalf of each member of the Regular Class,
28
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CS/CS/HB 3491, Second Engrossed
1 Special Risk Class, or Special Risk Administrative Support
2 Class in terms of a percentage of the member's gross
3 compensation. Such contribution constitutes the entire health
4 insurance subsidy contribution with respect to the member. A
5 change in the contribution rate is effective with the first
6 salary paid on or after the beginning date of the change. The
7 retiree health insurance subsidy contribution rate is as
8 follows:
9
10 Dates of Contribution Contribution
11 Rate Changes Rate
12
13 October 1, 1987, through December 31, 1988 0.24%
14 January 1, 1989, through December 31, 1993 0.48%
15 January 1, 1994, through December 31, 1994 0.56%
16 Effective January 1, 1995, through June 30,
17 1998 0.66%
18 Effective July 1, 1998 0.94%
19
20 Such contributions shall be deposited by the administrator in
21 the Retiree Health Insurance Subsidy Trust Fund.
22 Section 7. Subsection (2), paragraph (d) of subsection
23 (6), paragraph (a) of subsection (7), and subsection (8) of
24 section 121.091, Florida Statutes, are amended, paragraphs (f)
25 and (g) of subsection (7) of said section are redesignated as
26 paragraphs (g) and (h), respectively, and a new paragraph (f)
27 is added to said subsection, to read:
28 121.091 Benefits payable under the system.--No
29 benefits shall be paid under this section unless the member
30 has terminated employment as provided in s. 121.021(39) and a
31
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CS/CS/HB 3491, Second Engrossed
1 proper application has been filed in the manner prescribed by
2 the division.
3 (2) BENEFITS PAYABLE FOR DUAL NORMAL RETIREMENT
4 AGES.--In the event a member accumulates retirement benefits
5 to commence at different normal retirement ages by virtue of
6 having performed duties for an employer which would entitle
7 him or her to benefits as both a regular member and special
8 risk member of the Special Risk Class and a member of either
9 the Regular Class, Senior Management Service Class, or Elected
10 Officers' Class, the amount of benefits payable shall be
11 computed separately with respect to each such age and the sum
12 of such computed amounts shall be paid as provided in this
13 section.
14 (6) OPTIONAL FORMS OF RETIREMENT BENEFITS AND
15 DISABILITY RETIREMENT BENEFITS.--
16 (d) A member who elects the option in subparagraph
17 (a)3. or subparagraph (a)4. shall, on a form provided for that
18 purpose, designate a joint annuitant to receive the benefits
19 which continue to be payable upon the death of the member.
20 After benefits have commenced under the option in subparagraph
21 (a)3. or subparagraph (a)4., the following shall apply:
22 1. A retired member may change his or her designation
23 of a joint annuitant only twice. If such a retired member
24 desires to change his or her designation of a joint annuitant,
25 he or she shall file with the division a notarized "change of
26 joint annuitant" form and shall notify the former joint
27 annuitant in writing of such change. Upon receipt of a
28 completed change of joint annuitant form, the division shall
29 adjust the member's monthly benefit by the application of
30 actuarial tables and calculations developed to ensure that the
31 benefit paid is the actuarial equivalent of the present value
30
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CS/CS/HB 3491, Second Engrossed
1 of the member's current benefit. The consent of a retired
2 member's first designated joint annuitant to any such change
3 shall not be required.
4 2. In the event of the dissolution of marriage of a
5 retired member and a joint annuitant, such member may make an
6 election to nullify the joint annuitant designation of the
7 former spouse, unless there is an existing qualified domestic
8 relations order preventing such action. The member shall file
9 with the division a written, notarized nullification which
10 shall be effective on the first day of the next month
11 following receipt by the division. Benefits shall be paid as
12 if the former spouse predeceased the member. A member who
13 makes such an election may not reverse the nullification but
14 may designate a new joint annuitant in accordance with
15 subparagraph 1.
16 (7) DEATH BENEFITS.--
17 (a) If the employment of a member is terminated by
18 reason of his or her death prior to the completion of 10 years
19 of creditable service, except as provided in paragraph (f),
20 there shall be payable to his or her designated beneficiary
21 the member's accumulated contributions.
22 (f) Notwithstanding any other provisions in this
23 chapter to the contrary and upon application to the
24 administrator, an eligible joint annuitant, of a member whose
25 employment is terminated by death within 1 year of such member
26 satisfying the service requirements for vesting and retirement
27 eligibility, shall be permitted to purchase only the
28 additional service credit necessary to vest and qualify for
29 retirement benefits by one of the following methods:
30 1. Such eligible joint annuitant may use the deceased
31 member's accumulated hours of annual, sick, and compensatory
31
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CS/CS/HB 3491, Second Engrossed
1 leave to purchase additional creditable service, on an hour by
2 hour basis, provided that such deceased member's accumulated
3 leave is sufficient to cover the additional months required.
4 For each month of service credit needed prior to the final
5 month, credit for the total number of work hours in that month
6 must be purchased, using an equal number of the deceased
7 member's accumulated leave hours. Service credit required for
8 the final month in which the deceased member would have become
9 vested shall be awarded upon the purchase of 1 hour of credit.
10 Such eligible joint annuitant shall pay the contribution rate
11 in effect at the time of purchase of the deceased member's
12 class of membership, multiplied by such member's monthly
13 salary at the time of death. The accumulated leave payment
14 used in the average final compensation shall not include that
15 portion of the payment that represents any leave hours used in
16 the purchase of such creditable service.
17 2. Such eligible joint annuitant may purchase
18 additional months of creditable service, up to a maximum of 1
19 year, for any periods of out-of-state service as provided in
20 s. 121.1115, or in-state service as provided in s. 121.1122,
21 that the deceased member would have been eligible to purchase
22 prior to his or her death.
23
24 Service purchased under this paragraph shall be added to the
25 creditable service of the member and used to vest for
26 retirement eligibility, and shall be used in the calculation
27 of any benefits which may be payable to the eligible joint
28 annuitant. Any benefits paid in accordance with this
29 paragraph shall only be made prospectively.
30 (8) DESIGNATION OF BENEFICIARIES.--Each member may, on
31 a form provided for that purpose, signed and filed with the
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CS/CS/HB 3491, Second Engrossed
1 division, designate a choice of one or more persons, named
2 sequentially or jointly, as his or her beneficiary who shall
3 receive the benefits, if any, which may be payable in the
4 event of the member's death pursuant to the provisions of this
5 chapter. If no beneficiary is named in the manner provided
6 above, or if no beneficiary designated by the member survives
7 the member, the beneficiary shall be the spouse of the
8 deceased, if living. If the member's spouse is not alive at
9 his or her death, the beneficiary shall be the living children
10 of the member. If no children survive, the beneficiary shall
11 be the member's father or mother, if living; otherwise, the
12 beneficiary shall be the member's estate. The beneficiary
13 most recently designated by a member on a form or letter filed
14 with the division shall be the beneficiary entitled to any
15 benefits payable at the time of the member's death, except
16 benefits shall be paid as provided in paragraph (7)(d) when
17 death occurs in the line of duty. Notwithstanding any other
18 provisions in this subsection to the contrary, for a member
19 who dies prior to his or her effective date of retirement on
20 or after January 1, 1999, the spouse at the time of death
21 shall be the member's beneficiary unless such member
22 designates a different beneficiary as provided herein
23 subsequent to the member's most recent marriage.
24 Section 8. Subsection (1) of section 121.1122, Florida
25 Statutes, is amended to read:
26 121.1122 Purchase of retirement credit for in-state
27 public service and in-state service in accredited nonpublic,
28 nonsectarian schools and colleges, including charter
29 schools.--Effective January 1, 1998, a member of the Florida
30 Retirement System may purchase creditable service for periods
31
33
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CS/CS/HB 3491, Second Engrossed
1 of certain public or nonpublic, nonsectarian employment
2 performed in this state, as provided in this section.
3 (1) PURCHASE OF RETIREMENT CREDIT AUTHORIZED.--Subject
4 to the provisions of subsections (2) and (3), a member of the
5 Florida Retirement System may purchase up to 5 years of
6 retirement credit for:
7 (a) Periods of public employment in this state; or
8 (b) Periods of employment in charter schools or in any
9 nonpublic, nonsectarian school or college in this state that
10 is accredited by the Southern Association of Colleges and
11 Schools.
12
13 Credit for 1 year of such service may be purchased for each
14 year of creditable service a member completes under the
15 Florida Retirement System.
16 Section 9. Section 121.121, Florida Statutes, is
17 amended to read:
18 121.121 Future service to include Authorized leaves of
19 absence.--
20 (1) A member may purchase creditable service for
21 Future service of any member as defined in s. 121.021(21)
22 shall also include up to 2 work years of creditable service
23 for authorized leaves of absence if:
24 (a)(1) The member has completed a minimum of 10 years
25 of creditable service, excluding periods of leave of absence;
26 (b)(2) The leave of absence is authorized in writing
27 by the employer of the member and approved by the
28 administrator;
29 (c)(3) The member returns to active employment
30 performing service with a Florida Retirement System employer
31 in a regularly established position immediately upon
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CS/CS/HB 3491, Second Engrossed
1 termination of the leave of absence and remains on the
2 employer's payroll for 1 calendar month, except that a member
3 who retires on disability while on a medical leave of absence
4 shall not be required to return to employment; and
5 (d)(4) The member makes the required contributions for
6 service credit during the leave of absence, which shall be 8
7 percent until January 1, 1975, and 9 percent thereafter of his
8 or her rate of monthly compensation in effect immediately
9 prior to the commencement of such leave for each month of such
10 period, plus 4 percent interest until July 1, 1975, and 6.5
11 percent interest thereafter on such contributions, compounded
12 annually each June 30 from the due date of the contribution to
13 date of payment. Effective July 1, 1980, any leave of absence
14 purchased pursuant to this section shall be at the
15 contribution rates specified in s. 121.071 in effect at the
16 time the leave is granted for the class of membership from
17 which the leave of absence was granted; however, any member
18 who purchased leave-of-absence credit prior to July 1, 1980,
19 for a leave of absence from a position in a class other than
20 the regular membership class, may pay the appropriate
21 additional contributions plus compound interest thereon and
22 receive creditable service for such leave of absence in the
23 membership class from which the member was granted the leave
24 of absence.
25 (2) A member who is required to resign his or her
26 office as a subordinate officer, deputy sheriff, or police
27 officer because he or she is a candidate for a public office
28 which is currently held by his or her superior officer who is
29 also a candidate for reelection to the same office, in
30 accordance with s. 99.012(5), shall, upon return to covered
31 employment, be eligible to purchase retirement credit for the
35
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CS/CS/HB 3491, Second Engrossed
1 period between his or her date of resignation and the
2 beginning of the term of office for which he or she was a
3 candidate as a leave of absence without pay, as provided in
4 subsection (1).
5 Section 10. Subsection (3) of section 121.122, Florida
6 Statutes, is amended to read:
7 121.122 Renewed membership in system.--Except as
8 provided in s. 121.053, effective July 1, 1991, any retiree of
9 a state-administered retirement system who is employed in a
10 regularly established position with a covered employer shall
11 be enrolled as a compulsory member of the Regular Class of the
12 Florida Retirement System or, effective July 1, 1997, any
13 retiree of a state-administered retirement system who is
14 employed in a position included in the Senior Management
15 Service Class shall be enrolled as a compulsory member of the
16 Senior Management Service Class of the Florida Retirement
17 System as provided in s. 121.055, and shall be entitled to
18 receive an additional retirement benefit, subject to the
19 following conditions:
20 (3) Such member shall be entitled to purchase
21 additional retirement credit in the Regular Class or the
22 Senior Management Service Class, as applicable, for any
23 postretirement service performed in a regularly established
24 position as follows:
25 (a) For regular class service prior to July 1, 1991,
26 by paying the Regular Class applicable employee and employer
27 contributions for the period being claimed, plus 4 percent
28 interest compounded annually from first year of service
29 claimed until July 1, 1975, and 6.5 percent interest
30 compounded thereafter, until full payment is made to the
31 Florida Retirement System Trust Fund; or
36
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CS/CS/HB 3491, Second Engrossed
1 (b) For Senior Management Service Class prior to June
2 1, 1997, as provided in s. 121.055(1)(h).
3
4 The contribution for postretirement service between July 1,
5 1985, and July 1, 1991, for which the reemployed retiree
6 contribution was paid, shall be the difference between such
7 contribution and the total applicable contribution for the
8 period being claimed, plus interest. The employer of such
9 member may pay the applicable employer contribution in lieu of
10 the member.
11 Section 11. Subsection (5) of section 121.30, Florida
12 Statutes, is amended to read:
13 121.30 Statements of purpose and intent and other
14 provisions required for qualification under the Internal
15 Revenue Code of the United States.--Any other provisions in
16 this chapter to the contrary notwithstanding, it is
17 specifically provided that:
18 (5) No benefit payable hereunder for any limitation
19 year shall exceed the maximum amount, including cost-of-living
20 adjustments, allowable by law for qualified pension plans
21 under applicable provisions of the Internal Revenue Code of
22 the United States. In the event of any participation of a
23 Florida Retirement System member in any other plan that is
24 maintained by the participating employer, benefits that accrue
25 under the Florida Retirement System shall be considered
26 primary for any aggregate limitation applicable under s. 415
27 of the Internal Revenue Code.
28 Section 12. Section 121.133, Florida Statutes, is
29 created to read:
30 121.133 Cancellation of uncashed
31 warrants.--Notwithstanding the provisions of s. 17.26 or s.
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CS/CS/HB 3491, Second Engrossed
1 717.123 to the contrary, effective July 1, 1998, if any state
2 warrant issued by the Comptroller for the payment of
3 retirement benefits from the Florida Retirement System Trust
4 Fund, or any other pension trust fund administered by the
5 division, is not presented for payment within 1 year after the
6 last day of the month in which it was originally issued, the
7 Comptroller shall cancel the benefit warrant and credit the
8 amount of the warrant to the Florida Retirement System Trust
9 Fund or other pension trust fund administered by the division,
10 as appropriate. The Division of Retirement may provide for
11 issuance of a replacement warrant when deemed appropriate.
12 Section 13. Paragraph (b) of subsection (12) of
13 section 121.40, Florida Statutes, is amended to read:
14 121.40 Cooperative extension personnel at the
15 Institute of Food and Agricultural Sciences; supplemental
16 retirement benefits.--
17 (12) CONTRIBUTIONS.--
18 (b) The monthly contributions required to be paid
19 pursuant to paragraph (a) on the gross monthly salaries, from
20 all sources with respect to such employment, paid to those
21 employees of the institute who hold both state and federal
22 appointments and who participate in the federal Civil Service
23 Retirement System shall be as follows:
24
25 Dates of Contribution Percentage
26 Rate Changes Due
27
28 July 1, 1985, through December 31, 1988 6.68%
29 January 1, 1989, through December 31, 1993 6.35%
30 January 1, 1994, through December 31, 1994 6.69%
31 January 1, 1995, through June 30, 1996 6.82%
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CS/CS/HB 3491, Second Engrossed
1 Effective July 1, 1996, through June 30,
2 1998 5.64%
3 Effective July 1, 1998 7.17%
4
5 Section 14. Sections 121.0505 and 121.0516, Florida
6 Statutes, are repealed.
7 Section 15. (1) The changes to the retirement
8 contribution rates for the Florida Retirement System included
9 in this act are the result of the 1997 Actuarial Valuation of
10 the Florida Retirement System as recommended by the consulting
11 actuaries. These changes shall remain in effect until such
12 rates are further amended, or until such rates are adjusted as
13 provided in subsection (2).
14 (2) The rate adjustments set forth in this act are in
15 addition to all other changes to such contribution rates which
16 are separately enacted into law and applicable on July 1,
17 1998. With respect to such other changes, the Division of
18 Statutory Revision of the Joint Legislative Management
19 Committee is directed to edit the statutes as necessary to
20 adjust the contribution rate percentages listed under ss.
21 121.052(7)(a), 121.055(3)(a), and 121.071(1), Florida
22 Statutes, as appropriate. Pursuant to s. 11.242(5)(i),
23 Florida Statutes, the provisions of this section shall be
24 omitted from publication in the Florida Statutes or any
25 revision or supplement thereof.
26 Section 16. The Legislature finds that a proper and
27 legitimate state purpose is served when employees and retirees
28 of the state and its political subdivisions, and the
29 dependents, survivors, and beneficiaries of such employees and
30 retirees, are extended the basic protections afforded by
31 governmental retirement systems that provide fair and adequate
39
CODING: Words stricken are deletions; words underlined are additions.
CS/CS/HB 3491, Second Engrossed
1 benefits and are managed, administered, and funded in an
2 actuarially sound manner, as required by s. 14, Art. X of the
3 State Constitution and part VII of chapter 112, Florida
4 Statutes. Therefore, the Legislature hereby determines and
5 declares that the provisions of this act fulfill an important
6 state interest.
7 Section 17. In editing manuscript for the next edition
8 of the official Florida Statutes, the Statutory Revision
9 Division of the Joint Legislative Management Committee, or its
10 successor, shall change "Elected State and County Officers'
11 Class" to "Elected Officers' Class" wherever the same appears
12 in chapter 121.
13 Section 18. Except as otherwise provided herein, this
14 act shall take effect upon becoming a law.
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