Senate Bill 0128

    Florida Senate - 1999                                   SB 128

    By Senator Brown-Waite





    10-379-99

  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:

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

11  121.091, Florida Statutes, 1998 Supplement, is amended to

12  read:

13         121.091  Benefits payable under the system.--Benefits

14  may not be paid under this section unless the member has

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

16  begun participation in the Deferred Retirement Option Program

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

18  been filed in the manner prescribed by the division. The

19  division may cancel an application for retirement benefits

20  when the member or beneficiary fails to timely provide the

21  information and documents required by this chapter and the

22  division's rules. The division shall adopt rules establishing

23  procedures for application for retirement benefits and for the

24  cancellation of such application when the required information

25  or documents are not received.

26         (4)  DISABILITY RETIREMENT BENEFIT.--

27         (f)  Computation of disability retirement benefit.--The

28  amount of each monthly payment shall be computed in the same

29  manner as for a normal retirement benefit, in accordance with

30  subsection (1), but shall be based on disability option

31  actuarial equivalency tables and the average monthly

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






    Florida Senate - 1999                                   SB 128
    10-379-99




  1  compensation and creditable service of the member as of the

  2  disability retirement date, subject to the following

  3  conditions:

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

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

  6         a.  Forty-two 42 percent of average monthly

  7  compensation as of the disability retirement date; or

  8         b.  Sixty-five percent of the average monthly

  9  compensation as of the disability retirement date for a member

10  of the special risk class; or

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

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

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

14  disability retirement date.

15         Section 2.  This act shall take effect January 1, 2000.

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18                          SENATE SUMMARY

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