House Bill 4095

    Florida House of Representatives - 1998                HB 4095

        By Representative Hafner






  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

  3         System; amending s. 121.091, F.S.; increasing

  4         the disability retirement benefit for members

  5         of the special risk class; providing an

  6         effective date.

  7

  8  Be It Enacted by the Legislature of the State of Florida:

  9

10         Section 1.  Paragraph (d) of subsection (4) of section

11  121.091, Florida Statutes, as amended by section 2 of chapter

12  97-154, Laws of Florida, and section 8 of chapter 97-180, Laws

13  of Florida, is amended to read:

14         121.091  Benefits payable under the system.--No

15  benefits shall be paid under this section unless the member

16  has terminated employment as provided in s. 121.021(39)(a) or

17  begun participation in the Deferred Retirement Option Program

18  as provided in subsection (13), and a proper application has

19  been filed in the manner prescribed by the division.

20         (4)  DISABILITY RETIREMENT BENEFIT.--

21         (d)  Disability retirement benefit.--Upon the

22  retirement of a member on his or her disability retirement

23  date, the member shall receive a monthly benefit which shall

24  begin to accrue on the first day of the month of disability

25  retirement and shall be payable on the last day of that month

26  and each month thereafter during his or her lifetime and

27  continued disability. The amount of each monthly payment shall

28  be computed in the same manner as for a normal retirement

29  benefit, in accordance with subsection (1), but based on

30  disability option actuarial equivalency tables and the average

31  monthly compensation and creditable service of the member as

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 1998                HB 4095

    123-169-98






  1  of the disability retirement date, subject to the following

  2  conditions:

  3         1.  If the member's disability occurred in the line of

  4  duty, the monthly Option 1 benefit shall not be less than:

  5         a.  Forty-two 42 percent of average monthly

  6  compensation as of the disability retirement date; or

  7         b.  Sixty-five percent of the average monthly

  8  compensation as of the disability retirement date for a member

  9  of the special risk class; or

10         2.  If the member's disability occurred other than in

11  the line of duty, the monthly Option 1 benefit shall not be

12  less than 25 percent of average monthly compensation as of the

13  disability retirement date.

14         Section 2.  This act shall take effect January 1, 1999.

15

16            *****************************************

17                          SENATE SUMMARY

18    Increases the disability retirement benefit payable to
      special risk members of the Florida Retirement System
19    from 42 percent to 65 percent of the average monthly
      compensation as of the disability retirement date.
20

21

22

23

24

25

26

27

28

29

30

31

                                  2