House Bill hb1565
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Florida House of Representatives - 2002 HB 1565
By Representative Ausley
1 A bill to be entitled
2 An act relating to the Florida Retirement
3 System; amending s. 121.021, F.S.; redefining
4 the terms "normal retirement date" and "normal
5 retirement age" for a specified period to allow
6 normal retirement after 25 years of service and
7 attainment of age 50; limiting participation in
8 the Deferred Retirement Option Program;
9 providing effective dates.
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11 Be It Enacted by the Legislature of the State of Florida:
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13 Section 1. Paragraph (a) of subsection (29) of section
14 121.021, Florida Statutes, is amended to read:
15 121.021 Definitions.--The following words and phrases
16 as used in this chapter have the respective meanings set forth
17 unless a different meaning is plainly required by the context:
18 (29) "Normal retirement date" means the first day of
19 any month following the date a member attains one of the
20 following statuses:
21 (a) If a Regular Class member, the member:
22 1. Completes 6 or more years of creditable service and
23 attains age 62; or
24 2. Completes 25 30 years of creditable service,
25 regardless of age, which may include a maximum of 4 years of
26 military service credit as long as such credit is not claimed
27 under any other system, and attains age 50.
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29 "Normal retirement age" is attained on the "normal retirement
30 date."
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Florida House of Representatives - 2002 HB 1565
745-119-02
1 Section 2. Effective July 1, 2003, paragraph (a) of
2 subsection (29) of section 121.021, Florida Statutes, as
3 amended by this act, is amended to read:
4 121.021 Definitions.--The following words and phrases
5 as used in this chapter have the respective meanings set forth
6 unless a different meaning is plainly required by the context:
7 (29) "Normal retirement date" means the first day of
8 any month following the date a member attains one of the
9 following statuses:
10 (a) If a Regular Class member, the member:
11 1. Completes 6 or more years of creditable service and
12 attains age 62; or
13 2. Completes 30 25 years of creditable service,
14 regardless of age, which may include a maximum of 4 years of
15 military service credit as long as such credit is not claimed
16 under any other system, and attains age 50.
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18 "Normal retirement age" is attained on the "normal retirement
19 date."
20 Section 3. Notwithstanding any other provision, a
21 person who retires during the period of July 1, 2002, through
22 June 30, 2003, upon attaining his or her normal retirement
23 age, but who does not meet the definition of "normal
24 retirement age" that was in effect on June 30, 2002, is not
25 eligible to participate in the Deferred Retirement Option
26 Program established in section 121.091(13), Florida Statutes.
27 Section 4. Except as otherwise provided herein, this
28 act shall take effect July 1, 2002.
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Florida House of Representatives - 2002 HB 1565
745-119-02
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2 LEGISLATIVE SUMMARY
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Authorizes normal retirement for members of the Regular
4 Class under the Florida Retirement System after 25 years
of service and attainment of age 50. The authorization is
5 for a 1-year period beginning July 1, 2002, and ending
June 30, 2003. Prohibits participation in the Deferred
6 Retirement Option Program by persons who qualify for
normal retirement during the 1-year period who would not
7 have qualified under the definition of "normal retirement
date" as it existed on June 30, 2002.
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