Senate Bill sb2260
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Florida Senate - 2004 SB 2260
By Senator Smith
14-1257-04
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 certain
5 members of the Special Risk Class who were
6 catastrophically injured in the line of duty;
7 providing for funding the benefit; providing an
8 effective date.
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10 Be It Enacted by the Legislature of the State of Florida:
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12 Section 1. Paragraph (f) of subsection (4) of section
13 121.091, Florida Statutes, is amended to read:
14 121.091 Benefits payable under the system.--Benefits
15 may not be paid under this section unless the member has
16 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 department. The
20 department may cancel an application for retirement benefits
21 when the member or beneficiary fails to timely provide the
22 information and documents required by this chapter and the
23 department's rules. The department shall adopt rules
24 establishing procedures for application for retirement
25 benefits and for the cancellation of such application when the
26 required information or documents are not received.
27 (4) DISABILITY RETIREMENT BENEFIT.--
28 (f) Computation of disability retirement benefit.--The
29 amount of each monthly payment shall be computed in the same
30 manner as for a normal retirement benefit, in accordance with
31 subsection (1), but shall be based on disability option
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Florida Senate - 2004 SB 2260
14-1257-04
1 actuarial equivalency tables and the average monthly
2 compensation and creditable service of the member as of the
3 disability retirement date, subject to the following
4 conditions:
5 1. If the member's disability occurred in the line of
6 duty, the monthly Option 1 benefit shall not be less than:
7 a. Forty-two percent of average monthly compensation
8 as of the disability retirement date; or
9 b. Sixty-five percent of the average monthly
10 compensation as of the disability retirement date for a member
11 of the special risk class who retires on or after July 1,
12 2000; or
13 c. Sixty-five percent of the average monthly
14 compensation for a member of the special risk class who has
15 retired on or after July 1, 1985, and was catastrophically
16 injured in the line of duty; or
17 2. If the member's disability occurred other than in
18 the line of duty, the monthly Option 1 benefit shall not be
19 less than 25 percent of average monthly compensation as of the
20 disability retirement date.
21 Section 2. In order to fund the benefits provided
22 under section 1:
23 (1) The contribution rates that apply to the Special
24 Risk Class of the Florida Retirement System shall be increased
25 by _____ percentage points; and
26 (2) The contribution rates that apply to the Special
27 Risk Administrative Support Class of the Florida Retirement
28 System shall be increased by _____ percentage points.
29 Section 3. This act shall take effect July 1, 2004.
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Florida Senate - 2004 SB 2260
14-1257-04
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2 SENATE SUMMARY
3 Provides a minimum retirement disability benefit for
members of the Special Risk Class who retired on or after
4 July 1, 1985, due to catastrophic injuries in the line of
duty.
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