Senate Bill 0128e1

    SB 128                                         First Engrossed



  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 for

  6         contribution-rate increases to fund this act;

  7         directing the Division of Statutory Revision to

  8         adjust contribution rates set forth in s.

  9         121.071, F.S.; declaring that this act fulfills

10         an important state interest; providing an

11         effective date.

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

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

16  121.091, Florida Statutes, 1998 Supplement, is amended to

17  read:

18         121.091  Benefits payable under the system.--Benefits

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

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

21  begun participation in the Deferred Retirement Option Program

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

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

24  division may cancel an application for retirement benefits

25  when the member or beneficiary fails to timely provide the

26  information and documents required by this chapter and the

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

28  procedures for application for retirement benefits and for the

29  cancellation of such application when the required information

30  or documents are not received.

31         (4)  DISABILITY RETIREMENT BENEFIT.--


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






    SB 128                                         First Engrossed



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

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

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

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

  5  actuarial equivalency tables and the average monthly

  6  compensation and creditable service of the member as of the

  7  disability retirement date, subject to the following

  8  conditions:

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

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

11         a.  Forty-two 42 percent of average monthly

12  compensation as of the disability retirement date; or

13         b.  Sixty-five percent of the average monthly

14  compensation as of the disability retirement date for a member

15  of the special risk class; or

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

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

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

19  disability retirement date.

20         Section 2.  Effective July 1, 1999, in order to fund

21  the benefits provided under section 1 of this act:

22         (1)  The contribution rates that apply to the Special

23  Risk Class of the Florida Retirement System shall be increased

24  by 0.13 percentage points; and

25         (2)  The contribution rates that apply to the Special

26  Risk Administrative Support Class of the Florida Retirement

27  System shall be increased by 0.21 percentage points.

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29  These increases shall be in addition to all other changes to

30  such contribution rates which may be enacted into law to take

31  effect on that date. The Division of Statutory Revision is


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






    SB 128                                         First Engrossed



  1  directed to adjust accordingly the contribution rates set

  2  forth in section 121.071, Florida Statutes.

  3         Section 3.  The Legislature finds that a proper and

  4  legitimate state purpose is served when employees and retirees

  5  of the state and of its political subdivisions, and the

  6  dependents, survivors, and beneficiaries of such employees and

  7  retirees, are extended the basic protections afforded by

  8  governmental retirement systems that provide fair and adequate

  9  benefits that are managed, administered, and funded in an

10  actuarially sound manner, as required by Section 14, Article X

11  of the State Constitution and part VII of chapter 112, Florida

12  Statutes. Therefore, the Legislature determines and declares

13  that this act fulfills an important state interest.

14         Section 4.  Except for this section and section 2 of

15  this act, which shall take effect July 1, 1999, this act shall

16  take effect January 1, 2000.

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