House Bill hb0149

    Florida House of Representatives - 2001                 HB 149

        By Representative Fiorentino






  1                      A bill to be entitled

  2         An act relating to the Florida Retirement

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

  4         that increased retirement disability benefits

  5         for special risk members apply to all such

  6         special risk members regardless of retirement

  7         date; providing an effective date.

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

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

12  121.091, Florida Statutes, is amended to 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 department. The

19  department 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  department's rules. The department shall adopt rules

23  establishing procedures for application for retirement

24  benefits and for the cancellation of such application when the

25  required information 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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    Florida House of Representatives - 2001                 HB 149

    730-105B-01






  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 percent of average monthly compensation

  7  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 who retires on or after July 1,

11  2000; or

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

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

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

15  disability retirement date.

16         Section 2.  (1)  Effective July 1, 2001, in order to

17  fund the benefits provided in section 1 of this act the

18  contribution rates that apply to the Special Risk Class of the

19  Florida Retirement System shall be increased by 0.  percentage

20  points.

21         (2)  This increase shall be in addition to all other

22  changes to such contribution rates which may be enacted into

23  law to take effect on that date. The Division of Statutory

24  Revision is directed to adjust accordingly the contribution

25  rates set forth in s. 121.071, Florida Statutes.

26         Section 3.  The Legislature finds that a proper and

27  legitimate state purpose is served when employees and retirees

28  of the state and of 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

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    Florida House of Representatives - 2001                 HB 149

    730-105B-01






  1  benefits that 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 determines and declares

  5  that this act fulfills an important state interest.

  6         Section 4.  This act shall take effect July 1, 2001.

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  9                          HOUSE SUMMARY

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      Provides that described disability retirement benefits
11    for members of the Special Risk Class of the Florida
      Retirement System apply to all such special risk members,
12    regardless of the date of retirement.

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