Florida Senate - 2009 COMMITTEE AMENDMENT
Bill No. SB 1182
Barcode 862520
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
03/31/2009 .
.
.
.
—————————————————————————————————————————————————————————————————
—————————————————————————————————————————————————————————————————
The Committee on Community Affairs (Storms) recommended the
following:
1 Senate Amendment (with title amendment)
2
3
4 Delete everything after the enacting clause
5 and insert:
6 Section 1. Subsection (60) of section 121.021, Florida
7 Statutes, is amended to read:
8 121.021 Definitions.—The following words and phrases as
9 used in this chapter have the respective meanings set forth
10 unless a different meaning is plainly required by the context:
11 (60) “Retiree” means:
12 (a) A former member of the Florida Retirement System or an
13 existing system who has terminated employment and is receiving
14 benefit payments from the system in which he or she was a
15 member. This term also includes a person who retired and is
16 receiving benefits under s. 112.05 and a retiree under the
17 Public Employee Optional Retirement Program defined in s.
18 121.4501(2).
19 (b) A former participant of the following programs who has
20 received a distribution from: the State Community College
21 Optional Retirement Program as defined in s. 121.051(2)(c), the
22 Senior Management Service Optional Annuity Program as defined in
23 s. 121.055(6), an alternative program for local agency employer
24 senior managers who withdrew from the Florida Retirement System
25 under s. 121.055(1)(b), or the State University System
26 Retirement Optional Retirement Program as defined in s.
27 121.35(5)(g). A distribution is receiving funds that include
28 employer contributions and associated earnings whether received
29 as a full or partial: rollover or trustee-to-trustee transfer,
30 lump sum payment, periodic payment, annuity payments or any
31 combination of these payment methods.
32 Section 2. Paragraph (a) of subsection (1) and paragraphs
33 (c) and (f) of subsection (2) of section 121.051, Florida
34 Statutes, are amended to read:
35 121.051 Participation in the system.—
36 (1) COMPULSORY PARTICIPATION.—
37 (a) The provisions of this law are shall be compulsory as
38 to all officers and employees, except elected officers who meet
39 the requirements of s. 121.052(3), who are employed on or after
40 December 1, 1970, by of an employer other than those referred to
41 in paragraph (2)(b), and each officer or employee, as a
42 condition of employment, shall become a member of the system as
43 of his or her date of employment, except that a person who is
44 retired from any state retirement system and is reemployed on or
45 after December 1, 1970, may not renew his or her membership in
46 any state retirement system except as provided in s.
47 121.091(4)(h) for a person who recovers from disability, and as
48 provided in s. 121.091(9)(b)10. s. 121.091(9)(b)8. for a person
49 who is elected to public office, and, effective July 1, 1991, as
50 provided in s. 121.122 for all other retirees. Officers and
51 employees of the University Athletic Association, Inc., a
52 nonprofit association connected with the University of Florida,
53 employed on and after July 1, 1979, may shall not participate in
54 any state-supported retirement system.
55 1. Any person appointed on or after July 1, 1989, to a
56 faculty position in a college at the J. Hillis Miller Health
57 Center at the University of Florida or the Medical Center at the
58 University of South Florida which has a faculty practice plan
59 provided by rule adopted by the Board of Regents may not
60 participate in the Florida Retirement System. Effective July 1,
61 2008, any person appointed thereafter to a faculty position,
62 including clinical faculty, in a college at a state university
63 that has a faculty practice plan authorized by the Board of
64 Governors may not participate in the Florida Retirement System.
65 A faculty member so appointed shall participate in the optional
66 retirement program for the State University System
67 notwithstanding the provisions of s. 121.35(2)(a).
68 2. For purposes of this paragraph, the term “faculty
69 position” is defined as a position assigned the principal
70 responsibility of teaching, research, or public service
71 activities or administrative responsibility directly related to
72 the academic mission of the college. The term “clinical faculty”
73 is defined as a faculty position appointment in conjunction with
74 a professional position in a hospital or other clinical
75 environment at a college. The term “faculty practice plan”
76 includes professional services to patients, institutions, or
77 other parties which are rendered by the clinical faculty
78 employed by a college that has a faculty practice plan at a
79 state university authorized by the Board of Governors.
80 (2) OPTIONAL PARTICIPATION.—
81 (c) Employees of public community colleges or charter
82 technical career centers sponsored by public community colleges,
83 as designated in s. 1000.21(3), who are members of the Regular
84 Class of the Florida Retirement System and who comply with the
85 criteria set forth in this paragraph and in s. 1012.875 may
86 elect, in lieu of participating in the Florida Retirement
87 System, to withdraw from the Florida Retirement System
88 altogether and participate in an optional retirement program
89 provided by the employing agency under s. 1012.875, to be known
90 as the State Community College System Optional Retirement
91 Program. Pursuant thereto:
92 1. Through June 30, 2001, the cost to the employer for such
93 annuity shall equal the normal cost portion of the employer
94 retirement contribution which would be required if the employee
95 were a member of the Regular Class defined benefit program, plus
96 the portion of the contribution rate required by s. 112.363(8)
97 that would otherwise be assigned to the Retiree Health Insurance
98 Subsidy Trust Fund. Effective July 1, 2001, each employer shall
99 contribute on behalf of each participant in the optional program
100 an amount equal to 10.43 percent of the participant’s gross
101 monthly compensation. The employer shall deduct an amount to
102 provide for the administration of the optional retirement
103 program. The employer providing the optional program shall
104 contribute an additional amount to the Florida Retirement System
105 Trust Fund equal to the unfunded actuarial accrued liability
106 portion of the Regular Class contribution rate.
107 2. The decision to participate in such an optional
108 retirement program shall be irrevocable for as long as the
109 employee holds a position eligible for participation, except as
110 provided in subparagraph 3. Any service creditable under the
111 Florida Retirement System shall be retained after the member
112 withdraws from the Florida Retirement System; however,
113 additional service credit in the Florida Retirement System shall
114 not be earned while a member of the optional retirement program.
115 3. An employee who has elected to participate in the
116 optional retirement program shall have one opportunity, at the
117 employee’s discretion, to choose to transfer from the optional
118 retirement program to the defined benefit program of the Florida
119 Retirement System or to the Public Employee Optional Retirement
120 Program, subject to the terms of the applicable optional
121 retirement program contracts.
122 a. If the employee chooses to move to the Public Employee
123 Optional Retirement Program, any contributions, interest, and
124 earnings creditable to the employee under the State Community
125 College System Optional Retirement Program shall be retained by
126 the employee in the State Community College System Optional
127 Retirement Program, and the applicable provisions of s.
128 121.4501(4) shall govern the election.
129 b. If the employee chooses to move to the defined benefit
130 program of the Florida Retirement System, the employee shall
131 receive service credit equal to his or her years of service
132 under the State Community College System Optional Retirement
133 Program.
134 (I) The cost for such credit shall be an amount
135 representing the present value of that employee’s accumulated
136 benefit obligation for the affected period of service. The cost
137 shall be calculated as if the benefit commencement occurs on the
138 first date the employee would become eligible for unreduced
139 benefits, using the discount rate and other relevant actuarial
140 assumptions that were used to value the Florida Retirement
141 System defined benefit plan liabilities in the most recent
142 actuarial valuation. The calculation shall include any service
143 already maintained under the defined benefit plan in addition to
144 the years under the State Community College System Optional
145 Retirement Program. The present value of any service already
146 maintained under the defined benefit plan shall be applied as a
147 credit to total cost resulting from the calculation. The
148 division shall ensure that the transfer sum is prepared using a
149 formula and methodology certified by an enrolled actuary.
150 (II) The employee must transfer from his or her State
151 Community College System Optional Retirement Program account and
152 from other employee moneys as necessary, a sum representing the
153 present value of that employee’s accumulated benefit obligation
154 immediately following the time of such movement, determined
155 assuming that attained service equals the sum of service in the
156 defined benefit program and service in the State Community
157 College System Optional Retirement Program.
158 4. Participation in the optional retirement program shall
159 be limited to those employees who satisfy the following
160 eligibility criteria:
161 a. The employee must be otherwise eligible for membership
162 or renewed membership in the Regular Class of the Florida
163 Retirement System, as provided in s. 121.021(11) and (12) or s.
164 121.122.
165 b. The employee must be employed in a full-time position
166 classified in the Accounting Manual for Florida’s Public
167 Community Colleges as:
168 (I) Instructional; or
169 (II) Executive Management, Instructional Management, or
170 Institutional Management, if a community college determines that
171 recruiting to fill a vacancy in the position is to be conducted
172 in the national or regional market, and:
173 (A) The duties and responsibilities of the position include
174 either the formulation, interpretation, or implementation of
175 policies; or
176 (B) The duties and responsibilities of the position include
177 the performance of functions that are unique or specialized
178 within higher education and that frequently involve the support
179 of the mission of the community college.
180 c. The employee must be employed in a position not included
181 in the Senior Management Service Class of the Florida Retirement
182 System, as described in s. 121.055.
183 5. A participant who receives a program distribution,
184 including a rollover or trustee-to-trustee transfer, funded by
185 employer contributions shall be deemed to be retired from a
186 state-administered retirement system in the event of subsequent
187 employment with any employer that participates in the Florida
188 Retirement System. Participants in the program are subject to
189 the same reemployment limitations, renewed membership
190 provisions, and forfeiture provisions as are applicable to
191 regular members of the Florida Retirement System under ss.
192 121.091(9), 121.122, and 121.091(5), respectively.
193 6. Eligible community college employees shall be compulsory
194 members of the Florida Retirement System until, pursuant to the
195 procedures set forth in s. 1012.875, a written election to
196 withdraw from the Florida Retirement System and to participate
197 in the State Community College System Optional Retirement
198 Program is filed with the program administrator and received by
199 the division.
200 a. Any community college employee whose program eligibility
201 results from initial employment shall be enrolled in the State
202 Community College System Optional Retirement Program retroactive
203 to the first day of eligible employment. The employer retirement
204 contributions paid through the month of the employee plan change
205 shall be transferred to the community college for the employee’s
206 optional program account, and, effective the first day of the
207 next month, the employer shall pay the applicable contributions
208 based upon subparagraph 1.
209 b. Any community college employee whose program eligibility
210 results from a change in status due to the subsequent
211 designation of the employee’s position as one of those specified
212 in subparagraph 4. or due to the employee’s appointment,
213 promotion, transfer, or reclassification to a position specified
214 in subparagraph 4. shall be enrolled in the program upon the
215 first day of the first full calendar month that such change in
216 status becomes effective. The employer retirement contributions
217 paid from the effective date through the month of the employee
218 plan change shall be transferred to the community college for
219 the employee’s optional program account, and, effective the
220 first day of the next month, the employer shall pay the
221 applicable contributions based upon subparagraph 1.
222 7. Effective July 1, 2003, through December 31, 2008, any
223 participant of the State Community College System Optional
224 Retirement Program who has service credit in the defined benefit
225 plan of the Florida Retirement System for the period between his
226 or her first eligibility to transfer from the defined benefit
227 plan to the optional retirement program and the actual date of
228 transfer may, during his or her employment, elect to transfer to
229 the optional retirement program a sum representing the present
230 value of the accumulated benefit obligation under the defined
231 benefit retirement program for such period of service credit.
232 Upon such transfer, all such service credit previously earned
233 under the defined benefit program of the Florida Retirement
234 System during this period shall be nullified for purposes of
235 entitlement to a future benefit under the defined benefit
236 program of the Florida Retirement System.
237 (f)1. Whenever an employer that participates in the Florida
238 Retirement System undertakes the transfer, merger, or
239 consolidation of governmental services or functions, the
240 employer must notify the department at least 60 days before
241 prior to such action and shall provide documentation as required
242 by the department.
243 2. When the agency to which a member’s employing unit is
244 transferred, merged, or consolidated does not participate in the
245 Florida Retirement System, a member shall elect in writing to
246 remain in the Florida Retirement System or to transfer to the
247 local retirement system operated by the such agency. If the such
248 agency does not participate in a local retirement system, the
249 member shall continue membership in the Florida Retirement
250 System. In either case, the membership shall continue for as
251 long as the member is employed by the agency to which his or her
252 unit was transferred, merged, or consolidated.
253 Section 3. Subsections (1) and (2) of section 121.053,
254 Florida Statutes, are amended to read:
255 121.053 Participation in the Elected Officers’ Class for
256 retired members.—
257 (1)(a)1. Any retiree of a state-administered retirement
258 system who initially serves in an elective office in a regularly
259 established position with a covered employer on or after January
260 1, 2010, may not enroll in the Florida Retirement System as a
261 renewed member.
262 2. An elected officer who is elected or appointed to an
263 elective office and is participating in the Deferred Retirement
264 Option Program is subject to termination as provided in s.
265 121.021(39)(b), and reemployment limitations as provided in s.
266 121.091(9), upon completion of his or her DROP participation
267 period. An elected official may defer termination as provided in
268 subparagraph (c)5.
269 (b) Any member who retired before January 1, 2010, under
270 any existing system as defined in s. 121.021(2), and receives a
271 benefit thereof, who is initially reemployed before January 1,
272 2010, and who serves in an office covered by the Elected
273 Officers’ Class for a period of at least 6 years, is entitled to
274 receive an additional retirement benefit for such elected
275 officer service before July 1, 1990, under the Elected Officers’
276 Class of the Florida Retirement System, as follows:
277 1. Upon completion of 6 or more years of creditable service
278 in an office covered by the Elected Officers’ Class, as provided
279 in s. 121.052, the member shall notify the administrator of his
280 or her intent to purchase elected officer service before July 1,
281 1990, and shall pay the member contribution applicable for the
282 period being claimed, plus 4 percent interest compounded
283 annually from the first year of service claimed until July 1,
284 1975, and 6.5 percent interest compounded annually thereafter,
285 until full payment is made to the Florida Retirement System
286 Trust Fund; however, the member may purchase retirement credit
287 under the Elected Officers’ Class only for such service as an
288 elected officer.
289 2. Upon payment of the amount specified in subparagraph 1.,
290 the employer shall pay into the Florida Retirement System Trust
291 Fund the applicable employer contribution for the period of
292 elected officer service before to July 1, 1990, being claimed by
293 the member, plus 4 percent interest compounded annually from the
294 first year of service claimed until July 1, 1975, and 6.5
295 percent interest compounded annually thereafter, until full
296 payment is made to the Florida Retirement System Trust Fund.
297 (c) Any retired member of the Florida Retirement System, or
298 any existing system as defined in s. 121.021(2), who, on or
299 after July 1, 1990, through December 31, 2009, is serving in, or
300 is elected or appointed to, an elective office covered by the
301 Elected Officers’ Class shall be enrolled in the appropriate
302 subclass of the Elected Officers’ Class of the Florida
303 Retirement System, and applicable contributions shall be paid
304 into the Florida Retirement System Trust Fund as provided in s.
305 121.052(7). Pursuant thereto: Any member who retired under any
306 existing system as defined in s. 121.021(2), and receives a
307 benefit thereof, and who serves in an office covered by the
308 Elected Officers’ Class for a period of at least 6 years, shall
309 be entitled to receive an additional retirement benefit for such
310 elected officer service prior to July 1, 1990, under the Elected
311 Officers’ Class of the Florida Retirement System, as follows:
312 1. Upon completion of 6 or more years of creditable service
313 in an office covered by the Elected Officers’ Class, s. 121.052,
314 such member shall notify the administrator of his or her intent
315 to purchase elected officer service prior to July 1, 1990, and
316 shall pay the member contribution applicable for the period
317 being claimed, plus 4 percent interest compounded annually from
318 the first year of service claimed until July 1, 1975, and 6.5
319 percent interest compounded annually thereafter, until full
320 payment is made to the Florida Retirement System Trust Fund;
321 however, such member may purchase retirement credit under the
322 Elected Officers’ Class only for such service as an elected
323 officer.
324 2. Upon payment of the amount specified in subparagraph 1.,
325 the employer shall pay into the Florida Retirement System Trust
326 Fund the applicable employer contribution for the period of
327 elected officer service prior to July 1, 1990, being claimed by
328 the member, plus 4 percent interest compounded annually from the
329 first year of service claimed until July 1, 1975, and 6.5
330 percent interest compounded annually thereafter, until full
331 payment is made to the Florida Retirement System Trust Fund.
332 (b) Any retired member of the Florida Retirement System, or
333 any existing system as defined in s. 121.021(2), who, on or
334 after July 1, 1990, is serving in, or is elected or appointed
335 to, an elective office covered by the Elected Officers’ Class
336 shall be enrolled in the appropriate subclass of the Elected
337 Officers’ Class of the Florida Retirement System, and applicable
338 contributions shall be paid into the Florida Retirement System
339 Trust Fund as provided in s. 121.052(7). Pursuant thereto:
340 1. Any such retired member shall be eligible to continue to
341 receive retirement benefits as well as compensation for the
342 elected officer service for as long as he or she remains in an
343 elective office covered by the Elected Officers’ Class.
344 2. If any such member serves in an elective office covered
345 by the Elected Officers’ Class and becomes vested under that
346 class, he or she shall be entitled to receive an additional
347 retirement benefit for such elected officer service.
348 3. Such member shall be entitled to purchase additional
349 retirement credit in the Elected Officers’ Class for any
350 postretirement service performed in an elected position eligible
351 for the Elected Officers’ Class before prior to July 1, 1990, or
352 in the Regular Class for any postretirement service performed in
353 any other regularly established position prior to July 1, 1991,
354 by paying the applicable Elected Officers’ Class or Regular
355 Class employee and employer contributions for the period being
356 claimed, plus 4 percent interest compounded annually from the
357 first year of service claimed until July 1, 1975, and 6.5
358 percent interest compounded thereafter, until full payment is
359 made to the Florida Retirement System Trust Fund. The
360 contribution for postretirement Regular Class service between
361 July 1, 1985, and July 1, 1991, for which the reemployed retiree
362 contribution was paid, shall be the difference between such
363 contribution and the total applicable contribution for the
364 period being claimed, plus interest. The employer of such member
365 may pay the applicable employer contribution in lieu of the
366 member. If a member does not wish to claim credit for all of the
367 postretirement service for which he or she is eligible, the
368 service the member claims must be the most recent service.
369 4. Creditable service for which credit was received, or
370 which remained unclaimed, at retirement may not be claimed or
371 applied toward service credit earned following renewed
372 membership. However, service earned in accordance with the
373 renewed membership provisions in s. 121.122 may be used in
374 conjunction with creditable service earned under this paragraph,
375 provided applicable vesting requirements and other existing
376 statutory conditions required by this chapter are met.
377 5. An elected officer who is elected or appointed to an
378 elective office and is participating in the Deferred Retirement
379 Option Program is not subject to termination as provided in s.
380 121.021(39)(b), or reemployment limitations as provided in s.
381 121.091(9), until the end of his or her current term of office
382 or, if the officer is consecutively elected or reelected to an
383 elective office eligible for coverage under the Florida
384 Retirement System, until he or she no longer holds such an
385 elective office, as follows:
386 a. At the end of the 60-month DROP period:
387 (I) The officer’s DROP account shall accrue no additional
388 monthly benefits, but shall continue to earn interest as
389 provided in s. 121.091(13).
390 (II) No retirement contributions shall be required of the
391 employer of the elected officer and no additional retirement
392 credit shall be earned under the Florida Retirement System.
393 b. Nothing herein shall prevent an elected officer from
394 voluntarily terminating his or her elective office at any time
395 and electing to receive his or her DROP proceeds. However, until
396 termination requirements are fulfilled as provided in s.
397 121.021(39), any elected officer whose termination limitations
398 are extended by this section shall be ineligible for renewed
399 membership in the system and shall receive no pension payments,
400 DROP lump sum payments, or any other state payment other than
401 the statutorily determined salary, travel, and per diem for the
402 elective office.
403 c. Upon termination, the officer shall receive his or her
404 accumulated DROP account, plus interest, and shall accrue and
405 commence receiving monthly retirement benefits, which shall be
406 paid on a prospective basis only.
407
408 However, an officer electing to participate in the Deferred
409 Retirement Option Program on or before June 30, 2002, shall not
410 be required to terminate and shall remain subject to the
411 provisions of this subparagraph as adopted in section 1 of
412 chapter 2001-235, Laws of Florida.
413 (2) Upon attaining his or her normal retirement date and
414 payment of the amount specified in paragraphs (1)(b) and (c)
415 (1)(a) and (b), and upon application to the administrator of the
416 intent to retire, the member shall receive a monthly benefit
417 under this section, in addition to any benefits already being
418 received, which shall commence on the last day of the month of
419 retirement and be payable on the last day of the month
420 thereafter during his or her lifetime. The amount of such
421 monthly benefit shall be the total percentage of retirement
422 credit purchased under this section multiplied by the member’s
423 average monthly compensation as an elected officer, adjusted
424 according to the option selected at retirement under s.
425 121.091(6).
426 Section 4. Paragraph (f) of subsection (1) and paragraphs
427 (c) and (e) of subsection (6) of section 121.055, Florida
428 Statutes, are amended to read:
429 121.055 Senior Management Service Class.—There is hereby
430 established a separate class of membership within the Florida
431 Retirement System to be known as the “Senior Management Service
432 Class,” which shall become effective February 1, 1987.
433 (1)
434 (f) Effective July 1, 1997:
435 1. Except as provided in subparagraph 3., any elected state
436 officer eligible for membership in the Elected Officers’ Class
437 under s. 121.052(2)(a), (b), or (c) who elects membership in the
438 Senior Management Service Class under s. 121.052(3)(c) may,
439 within 6 months after assuming office or within 6 months after
440 this act becomes a law for serving elected state officers, elect
441 to participate in the Senior Management Service Optional Annuity
442 Program, as provided in subsection (6), in lieu of membership in
443 the Senior Management Service Class.
444 2. Except as provided in subparagraph 3., any elected
445 county officer of a local agency employer eligible for
446 membership in the Elected Officers’ Class under s. 121.052(2)(d)
447 who elects membership in the Senior Management Service Class
448 under s. 121.052(3)(c) may, within 6 months after assuming
449 office, or within 6 months after this act becomes a law for
450 serving elected county officers of a local agency employer,
451 elect to withdraw from the Florida Retirement System participate
452 in a lifetime monthly annuity program, as provided in
453 subparagraph (b)2., in lieu of membership in the Senior
454 Management Service Class.
455 3. Any retiree of a state-administered retirement system
456 who is initially reemployed on or after January 1, 2010, as an
457 elected official eligible for Elected Officers’ Class membership
458 shall not be eligible for renewed membership in the Senior
459 Management Service Class; or in the Senior Management Service
460 Optional Annuity Program as provided in subsection (6) or to
461 withdraw from the Florida Retirement System as a renewed member
462 as provided in subparagraph (b)2., as applicable, in lieu of
463 Senior Management Service Class membership.
464 (6)
465 (c) Participation.—
466 1. a. Except as provided in b., any eligible employee who
467 is employed on or before February 1, 1987, may elect to
468 participate in the optional annuity program in lieu of
469 participation in the Senior Management Service Class. Such
470 election shall be made in writing and filed with the department
471 and the personnel officer of the employer on or before May 1,
472 1987. Any eligible employee who is employed on or before
473 February 1, 1987, and who fails to make an election to
474 participate in the optional annuity program by May 1, 1987,
475 shall be deemed to have elected membership in the Senior
476 Management Service Class.
477 b. Any retiree of a state-administered retirement system
478 who is initially reemployed on or after January 1, 2010, is not
479 eligible for renewed membership in the Senior Management Service
480 Optional Annuity Program.
481 2. Any employee who becomes eligible to participate in the
482 optional annuity program by reason of initial employment
483 commencing after February 1, 1987, may, within 90 days after the
484 date of commencement of employment, elect to participate in the
485 optional annuity program. Such election shall be made in writing
486 and filed with the personnel officer of the employer. Any
487 eligible employee who does not within 90 days after commencement
488 of such employment elect to participate in the optional annuity
489 program shall be deemed to have elected membership in the Senior
490 Management Service Class.
491 3. A person who is appointed to a position in the Senior
492 Management Service Class and who is a member of an existing
493 retirement system or the Special Risk or Special Risk
494 Administrative Support Classes of the Florida Retirement System
495 may elect to remain in such system or class in lieu of
496 participation in the Senior Management Service Class or optional
497 annuity program. Such election shall be made in writing and
498 filed with the department and the personnel officer of the
499 employer within 90 days of such appointment. Any eligible
500 employee who fails to make an election to participate in the
501 existing system, the Special Risk Class of the Florida
502 Retirement System, the Special Risk Administrative Support Class
503 of the Florida Retirement System, or the optional annuity
504 program shall be deemed to have elected membership in the Senior
505 Management Service Class.
506 4. Except as provided in subparagraph 5., an employee’s
507 election to participate in the optional annuity program is
508 irrevocable as long as such employee continues to be employed in
509 an eligible position and continues to meet the eligibility
510 requirements set forth in this paragraph.
511 5. Effective from July 1, 2002, through September 30, 2002,
512 any active employee in a regularly established position who has
513 elected to participate in the Senior Management Service Optional
514 Annuity Program has one opportunity to choose to move from the
515 Senior Management Service Optional Annuity Program to the
516 Florida Retirement System defined benefit program.
517 a. The election must be made in writing and must be filed
518 with the department and the personnel officer of the employer
519 before October 1, 2002, or, in the case of an active employee
520 who is on a leave of absence on July 1, 2002, within 90 days
521 after the conclusion of the leave of absence. This election is
522 irrevocable.
523 b. The employee will receive service credit under the
524 defined benefit program of the Florida Retirement System equal
525 to his or her years of service under the Senior Management
526 Service Optional Annuity Program. The cost for such credit shall
527 be an amount representing the present value of that employee’s
528 accumulated benefit obligation for the affected period of
529 service.
530 c. The employee must transfer the total accumulated
531 employer contributions and earnings on deposit in his or her
532 Senior Management Service Optional Annuity Program account. If
533 the transferred amount is not sufficient to pay the amount due,
534 the employee must pay a sum representing the remainder of the
535 amount due. In no case may the employee retain any employer
536 contributions or earnings thereon from the Senior Management
537 Service Optional Annuity Program account.
538 (e) Benefits.—
539 1. Benefits shall be payable under the Senior Management
540 Service Optional Annuity Program only to participants in the
541 program, or their beneficiaries as designated by the participant
542 in the contract with a provider company, and such benefits shall
543 be paid by the designated company in accordance with the terms
544 of the annuity contract or contracts applicable to the
545 participant. A participant must be terminated from all
546 employment with all Florida Retirement System employers as
547 provided in s. 121.021(39) to begin receiving the employer
548 funded benefit. Benefits funded by employer contributions shall
549 be payable under the terms of the contract only as a lifetime
550 annuity to the participant, his or her beneficiary, or his or
551 her estate, in addition to except for:
552 a. A lump-sum payment to the beneficiary upon the death of
553 the participant;
554 b. A cash-out of a de minimis account upon the request of a
555 former participant who has been terminated for a minimum of 6
556 months from the employment that entitled him or her to optional
557 annuity program participation. A de minimis account is an
558 account with a provider company containing employer
559 contributions and accumulated earnings of not more than $5,000
560 made under the provisions of this chapter. Such cash-out must be
561 a complete liquidation of the account balance with that company
562 and is subject to the provisions of the Internal Revenue Code;
563 or
564 c. A mandatory distribution of a de minimis account of a
565 former participant who has been terminated for a minimum of 6
566 months from the employment that entitled him or her to optional
567 annuity program participation as authorized by the department;
568 or
569 d.c. A lump-sum direct rollover distribution whereby all
570 accrued benefits, plus interest and investment earnings, are
571 paid from the participant’s account directly to the custodian of
572 an eligible retirement plan, as defined in s. 402(c)(8)(B) of
573 the Internal Revenue Code, on behalf of the participant.
574
575 As used in this subparagraph, a “de minimis account” means an
576 account with a provider company containing employer
577 contributions and accumulated earnings of not more than $5,000
578 made under this chapter.
579 2. The benefits payable to any person under the Senior
580 Management Service Optional Annuity Program, and any
581 contribution accumulated under such program, shall not be
582 subject to assignment, execution, or attachment or to any legal
583 process whatsoever.
584 3. Except as provided in subparagraph 4., a participant who
585 terminates employment and receives a distribution, including a
586 rollover or trustee-to-trustee transfer optional annuity program
587 benefits funded by employer contributions shall be deemed to be
588 retired from a state-administered retirement system in the event
589 of subsequent employment with any employer that participates in
590 the Florida Retirement System.
591 4. A participant who receives optional annuity program
592 benefits funded by employer contributions as a mandatory
593 distribution of a de minimis account authorized by the
594 department will not be considered a retiree.
595 Section 5. Subsections (9), (13), and (14) of section
596 121.091, Florida Statutes, are amended to read:
597 121.091 Benefits payable under the system.—Benefits may not
598 be paid under this section unless the member has terminated
599 employment as provided in s. 121.021(39)(a) or begun
600 participation in the Deferred Retirement Option Program as
601 provided in subsection (13), and a proper application has been
602 filed in the manner prescribed by the department. The department
603 may cancel an application for retirement benefits when the
604 member or beneficiary fails to timely provide the information
605 and documents required by this chapter and the department’s
606 rules. The department shall adopt rules establishing procedures
607 for application for retirement benefits and for the cancellation
608 of such application when the required information or documents
609 are not received.
610 (9) EMPLOYMENT AFTER RETIREMENT; LIMITATION.—
611 (a) Any person who is retired under this chapter, except
612 under the disability retirement provisions of subsection (4),
613 may be employed by any private employer or public employer that
614 does not participate in a state-administered retirement system
615 and may receive compensation from that employment without
616 limiting or restricting in any way the retirement benefits
617 payable to that person.
618 (b) The limitations on receiving a retirement benefit while
619 reemployed by an employer participating in a state-administered
620 retirement system are:
621 1. For retirements effective on or after January 1, 2010,
622 or DROP participation ending on or after January 1, 2010, the
623 retiree may not receive a retirement benefit if receiving salary
624 or wages from reemployment with any agency participating in the
625 Florida Retirement System subsequent to the date of retirement.
626 However, a DROP participant may continue employment and receive
627 a salary during the period of participation in DROP, as provided
628 in subsection (13). Any person employed in violation of this
629 sub-subparagraph and any employing agency that employs or
630 appoints such person without notifying the Division of
631 Retirement to suspend retirement benefits are jointly and
632 severally liable for any benefits paid during reemployment. To
633 avoid liability, the employing agency must have a written
634 statement from the retiree that he or she is not retired from a
635 state-administered retirement system. Any retirement benefits
636 received by a retired member while reemployed by an employer
637 participating in a state-administered retirement system must be
638 repaid to the Florida Retirement System Trust Fund, and
639 retirement benefits shall remain suspended until repayment is
640 made.
641 2.a. For retirements effective on or after January 1, 2010
642 or DROP participation ending on or after January 1, 2010, there
643 shall be no exceptions to reemployment limitations and the
644 exceptions in subparagraphs (b)4. and (b)5. do not apply.
645 b. For retirements effective before January 1, 2010, or
646 DROP participation ending before January 1, 2010, a retiree may
647 not receive a salary from reemployment with any agency
648 participating in the Florida Retirement System and retirement
649 benefits under this chapter for 12 calendar months immediately
650 after retirement. However, a DROP participant may continue
651 employment and receive a salary during the period of
652 participation in DROP, as provided in subsection (13). Any
653 person to whom the limitation in this subparagraph applies who
654 is reemployed with any agency participating in the Florida
655 Retirement System after he or she has been retired and met the
656 definition of termination in s. 121.021(39), but before
657 completion of the 12-month limitation period must give timely
658 notice of this fact in writing to the employer and to the
659 Division of Retirement and shall have his or her retirement
660 benefits suspended while employed during the balance of the 12
661 month limitation period unless the person exceeds the 780-hour
662 reemployment limitation set forth in law. Any person employed in
663 violation of this sub-subparagraph and any employing agency that
664 employs or appoints such person without notifying the division
665 to suspend retirement benefits are jointly and severally liable
666 for any benefits paid during the reemployment limitation period.
667 To avoid liability, the employing agency must have a written
668 statement from the retiree that he or she is not retired from a
669 state-administered retirement system. Any retirement benefits
670 received by a retired member while reemployed during this
671 reemployment limitation period must be repaid to the Florida
672 Retirement System Trust Fund, and retirement benefits shall
673 remain suspended until repayment is made. Benefits suspended
674 beyond the reemployment limitation shall apply toward repayment
675 of benefits received in violation of the reemployment
676 limitation.
677 3.a. A district school board may reemploy a retired member
678 as a substitute or hourly teacher, education paraprofessional,
679 transportation assistant, bus driver, or food service worker on
680 a noncontractual basis after he or she has been retired and met
681 the definition of termination in s. 121.021(39). A district
682 school board may reemploy a retired member as instructional
683 personnel, as defined in s. 1012.01(2)(a), on an annual
684 contractual basis after he or she has met the definition of
685 termination in s. 121.021(39). Any other retired member who is
686 reemployed before meeting the definition of termination voids
687 his or her application for retirement benefits. A district
688 school board that reemploys such teachers, education
689 paraprofessionals, transportation assistants, bus drivers, or
690 food service workers is subject to the retirement contribution
691 required by law.
692 b. A community college board of trustees may reemploy a
693 retired member as an adjunct instructor or as a participant in a
694 phased retirement program within the Florida Community College
695 System after he or she has been retired and met the definition
696 of termination in s. 121.021(39). Any retired member who is
697 reemployed within 1 calendar month after retirement voids his or
698 her application for retirement benefits. A board of trustees
699 that reemploys such instructors are subject to the retirement
700 contribution required by law. A retired member may be reemployed
701 as an adjunct instructor for no more than 780 hours during the
702 first 12 calendar months of retirement. Any retired member
703 reemployed for more than 780 hours during the first 12 months of
704 retirement must give timely notice in writing to the employer
705 and to the Division of Retirement of the date he or she will
706 exceed the limitation. The division shall suspend his or her
707 retirement benefits for the remainder of the 12-month limitation
708 period. Any person employed in violation of this subparagraph
709 and any employing agency that employs or appoints such person
710 without notifying the division to suspend retirement benefits
711 are jointly and severally liable for any benefits paid during
712 the reemployment limitation period. The retiree must submit a
713 written statement to the employing agency stating that he or she
714 is not retired from a state-administered retirement system. Any
715 retirement benefits received by a retired member while
716 reemployed in excess of 780 hours during the 12-month limitation
717 period must be repaid to the Florida Retirement System Trust
718 Fund, and retirement benefits shall remain suspended until
719 repayment is made. Benefits suspended beyond the end of the 12
720 month limitation period shall apply toward repayment of benefits
721 received in violation of the 780-hour reemployment limitation.
722 c. The State University System may reemploy a retired
723 member as an adjunct faculty member or as a participant in a
724 phased retirement program within the State University System
725 after the retired member has met the definition of termination
726 in s. 121.021(39). Any retired member who is reemployed before
727 meeting the definition of termination voids his or her
728 application for retirement benefits. The State University System
729 is subject to the retired contribution required in subparagraph
730 3., as appropriate. A retired member may be reemployed as an
731 adjunct faculty member or a participant in a phased retirement
732 program for no more than 780 hours during the first 12 calendar
733 months of his or her retirement. Any retired member reemployed
734 for more than 780 hours during the 12-month limitation period
735 shall give timely notice in writing to the employer and to the
736 Division of Retirement of the date he or she will exceed the
737 limitation. The division shall suspend his or her retirement
738 benefits for the remainder of the 12-month limitation period.
739 Any person employed in violation of this subparagraph and any
740 employing agency that employs or appoints such person without
741 notifying the division to suspend retirement benefits are
742 jointly and severally liable for any benefits paid during the
743 reemployment limitation period. The retiree must submit a
744 written statement to the employing agency stating that he or she
745 is not retired from a state-administered retirement system. Any
746 retirement benefits received by a retired member while
747 reemployed in excess of 780 hours during the first 12 months of
748 retirement must be repaid to the Florida Retirement System Trust
749 Fund, and retirement benefits remain suspended until repayment
750 is made. Benefits suspended beyond the end of the retired
751 member’s 12-month limitation period shall apply toward repayment
752 of benefits received in violation of the 780-hour reemployment
753 limitation.
754 d. The Board of Trustees of the Florida School for the Deaf
755 and the Blind may reemploy a retired member as a substitute
756 teacher, substitute residential instructor, or substitute nurse
757 on a noncontractual basis after he or she has met the definition
758 of termination in s. 121.021(39). The Board of Trustees of the
759 Florida School for the Deaf and the Blind may reemploy a retired
760 member as instructional personnel, as defined in s. 1012.01(2),
761 on an annual contractual basis after he or she has been retired
762 and met the definition of termination in s. 121.021(39). Any
763 retired member who is reemployed before meeting the definition
764 of termination voids his or her application for retirement
765 benefits. The Board of Trustees of the Florida School for the
766 Deaf and the Blind reemploying such teachers, residential
767 instructors, or nurses is subject to the retirement contribution
768 required by subparagraph 3.
769 e. A developmental research school may reemploy a retired
770 member as a substitute or hourly teacher or an education
771 paraprofessional, as defined in s. 1012.01(2), on a
772 noncontractual basis after he or she has been retired and met
773 the definition of termination in s. 121.021(39). A developmental
774 research school may reemploy a retired member as instructional
775 personnel, as defined in s. 1012.01(2), on an annual contractual
776 basis after he or she has been retired and met the definition of
777 termination in s. 121.021(39). A developmental research school
778 that reemploys retired teachers and education paraprofessionals
779 are subject to the retirement contribution required by
780 subparagraph 3.
781 f. A charter school may reemploy a retired member as a
782 substitute or hourly teacher on a noncontractual basis after he
783 or she has been retired and met the definition of termination in
784 s. 121.021(39). A charter school may reemploy a retired member
785 as instructional personnel, as defined in s. 1012.01(2), on an
786 annual contractual basis after he or she has been retired and
787 met the definition of termination in s. 121.021(39). A charter
788 school that reemploys such members is subject to the retirement
789 contribution required by subparagraph 3.
790 g. An employing agency may reemploy a retired member as a
791 firefighter or paramedic after the retired member has been
792 retired and met the definition of termination in s. 121.021(39).
793 Any retired member who is reemployed within 1 calendar month
794 after retirement shall void his or her application for
795 retirement benefits. The employing agency reemploying such
796 firefighter or paramedic is subject to the retired contribution
797 required in subparagraph 3. Reemployment of a retired
798 firefighter or paramedic is limited to no more than 780 hours
799 during the first 12 calendar months of his or her retirement.
800 Any retired member reemployed for more than 780 hours during the
801 first 12 months of retirement must give timely notice in writing
802 to the employer and to the Division of Retirement of the date he
803 or she will exceed the limitation. The division shall suspend
804 his or her retirement benefits for the remainder of the 12-month
805 limitation period. Any person employed in violation of this
806 subparagraph and any employing agency that employs or appoints
807 such person without notifying the division to suspend retirement
808 benefits are jointly and severally liable for any benefits paid
809 during the reemployment limitation period. The retiree must
810 submit a written statement to the employing agency stating that
811 he or she is not retired from a state-administered retirement
812 system. Any retirement benefits received by a retired member
813 while reemployed in excess of 780 hours during the 12-month
814 limitation period must be repaid to the Florida Retirement
815 System Trust Fund, and retirement benefits shall remain
816 suspended until repayment is made. Benefits suspended beyond the
817 end of the 12-month limitation period shall apply toward
818 repayment of benefits received in violation of the 780-hour
819 reemployment limitation.
820 4.a. The employment of a retiree or DROP participant of a
821 state-administered retirement system does not affect the average
822 final compensation or years of creditable service of the retiree
823 or DROP participant.
824 b.(I) Before to July 1, 1991, upon employment of any
825 person, other than an elected officer as provided in s. 121.053,
826 who is retired under a state-administered retirement program,
827 the employer shall pay retirement contributions in an amount
828 equal to the unfunded actuarial liability portion of the
829 employer contribution which would be required for regular
830 members of the Florida Retirement System.
831 (II) For retirees initially reemployed from July 1, 1991
832 through December 31, 2009, contributions shall be made as
833 provided in s. 121.122 for retirees who have renewed membership
834 or as provided in subsection (13) for DROP participants.
835 c. Any person who is retired under a state-administered
836 retirement program and who is initially reemployed on or after
837 January 1, 2010, may not renew membership in the Florida
838 Retirement System. The employer shall pay retirement
839 contributions in an amount equal to the unfunded actuarial
840 liability portion of the employer contribution that would be
841 required for active members of the Florida Retirement System in
842 addition to the contributions required by s. 121.76.
843 5.a. Any person who has retired and who is holding an
844 elective public office or an appointment to an elective public
845 office eligible for the Elected Officers’ Class on or after July
846 1, 1990, and initially enrolled through December 31, 2009, shall
847 be enrolled in the Florida Retirement System as provided in s.
848 121.053(1)(c) or, if holding an elective public office that does
849 not qualify for the Elected Officers’ Class on or after July 1,
850 1991, and initially enrolled through December 31, 2009, shall be
851 enrolled in the Florida Retirement System as provided in s.
852 121.122, and shall continue to receive retirement benefits as
853 well as compensation for the elected officer’s service for as
854 long as he or she remains in elective office. However, any
855 retired member who served in an elective office before July 1,
856 1990, suspended his or her retirement benefit, and had his or
857 her Florida Retirement System membership reinstated shall, upon
858 retirement from such office, have his or her retirement benefit
859 recalculated to include the additional service and compensation
860 earned.
861 b. A retiree with renewed membership established before
862 January 1, 2010 and who is not receiving a benefit based on this
863 service, who is elected or appointed to an elective office shall
864 become a member of the Elected Officers’ Class or the Regular
865 Class depending upon the designation for the position.
866 c. A retiree who is elected or appointed to an elective
867 office on or after January 1, 2010 and who is initially
868 reemployed in a position covered by the Florida Retirement
869 System shall not be enrolled in the Florida Retirement System
870 and shall not receive retirement benefits after meeting the
871 definition of termination in s. 121.021(39).
872 6. Any person who is holding an elective public office
873 which is covered by the Florida Retirement System and who is
874 concurrently employed in nonelected covered employment may elect
875 to retire while continuing employment in the elective public
876 office if he or she terminates his or her nonelected covered
877 employment.
878 a. For retirements effective before January 1, 2010 or DROP
879 participation ending before January 1, 2010, any person who
880 exercises this election shall receive his or her retirement
881 benefits in addition to the compensation of the elective office
882 without regard to the time limitations otherwise provided in
883 this subsection. A person who seeks to exercise the provisions
884 of this subparagraph, as they existed before May 3, 1984, may
885 not be deemed to be retired under those provisions unless the
886 person is eligible to retire under the provisions of this
887 subparagraph as amended by chapter 84-11, Laws of Florida.
888 b. For retirements effective on or after January 1, 2010 or
889 DROP participation ending on or after January 1, 2010, any
890 person who exercises this election shall not receive his or her
891 retirement benefits in addition to the compensation of the
892 elective office.
893 7. The limitations of this paragraph apply to reemployment
894 in any capacity with an employer irrespective of the category of
895 funds from which the person is compensated.
896 8. This paragraph regarding reemployment after retirement
897 applies to DROP participants effective upon termination from
898 employment and the end of DROP participation.
899 (c) This subsection applies to retirees, as defined in s.
900 121.4501(2), of the Public Employee Optional Retirement Program
901 created in part II, subject to the following conditions:
902 1. Such retirees may not be reemployed with an employer
903 participating in the Florida Retirement System as provided in
904 paragraph (b) until the person has been retired for 3 calendar
905 months, unless the participant has reached the normal retirement
906 requirements of the defined benefit plan as provided in s.
907 121.021(29).
908 2. The retiree employed in violation of this subsection and
909 any employing agency that employs or appoints such person shall
910 be jointly and severally liable for reimbursement of any
911 benefits paid to the retirement trust fund from which the
912 benefits were paid, including the Retirement System Trust Fund
913 and the Public Employee Optional Retirement Program Trust Fund,
914 as appropriate. To be employed, the retiree must submit to the
915 employing agency a written statement that he or she is not
916 retired from a state-administered retirement system.
917 (a) Any person who is retired under this chapter, except
918 under the disability retirement provisions of subsection (4),
919 may be employed by an employer that does not participate in a
920 state-administered retirement system and may receive
921 compensation from that employment without limiting or
922 restricting in any way the retirement benefits payable to that
923 person.
924 (b)1. Any person who is retired under this chapter, except
925 under the disability retirement provisions of subsection (4),
926 may be reemployed by any private or public employer after
927 retirement and receive retirement benefits and compensation from
928 his or her employer without any limitations, except that a
929 person may not receive both a salary from reemployment with any
930 agency participating in the Florida Retirement System and
931 retirement benefits under this chapter for a period of 12 months
932 immediately subsequent to the date of retirement. However, a
933 DROP participant shall continue employment and receive a salary
934 during the period of participation in the Deferred Retirement
935 Option Program, as provided in subsection (13).
936 2. Any person to whom the limitation in subparagraph 1.
937 applies who violates such reemployment limitation and who is
938 reemployed with any agency participating in the Florida
939 Retirement System before completion of the 12-month limitation
940 period shall give timely notice of this fact in writing to the
941 employer and to the division and shall have his or her
942 retirement benefits suspended for the balance of the 12-month
943 limitation period. Any person employed in violation of this
944 paragraph and any employing agency which knowingly employs or
945 appoints such person without notifying the Division of
946 Retirement to suspend retirement benefits shall be jointly and
947 severally liable for reimbursement to the retirement trust fund
948 of any benefits paid during the reemployment limitation period.
949 To avoid liability, such employing agency shall have a written
950 statement from the retiree that he or she is not retired from a
951 state-administered retirement system. Any retirement benefits
952 received while reemployed during this reemployment limitation
953 period shall be repaid to the retirement trust fund, and
954 retirement benefits shall remain suspended until such repayment
955 has been made. Benefits suspended beyond the reemployment
956 limitation shall apply toward repayment of benefits received in
957 violation of the reemployment limitation.
958 3. A district school board may reemploy a retired member as
959 a substitute or hourly teacher, education paraprofessional,
960 transportation assistant, bus driver, or food service worker on
961 a noncontractual basis after he or she has been retired for 1
962 calendar month, in accordance with s. 121.021(39). A district
963 school board may reemploy a retired member as instructional
964 personnel, as defined in s. 1012.01(2)(a), on an annual
965 contractual basis after he or she has been retired for 1
966 calendar month, in accordance with s. 121.021(39). Any other
967 retired member who is reemployed within 1 calendar month after
968 retirement shall void his or her application for retirement
969 benefits. District school boards reemploying such teachers,
970 education paraprofessionals, transportation assistants, bus
971 drivers, or food service workers are subject to the retirement
972 contribution required by subparagraph 7.
973 4. A community college board of trustees may reemploy a
974 retired member as an adjunct instructor, that is, an instructor
975 who is noncontractual and part-time, or as a participant in a
976 phased retirement program within the Florida Community College
977 System, after he or she has been retired for 1 calendar month,
978 in accordance with s. 121.021(39). Any retired member who is
979 reemployed within 1 calendar month after retirement shall void
980 his or her application for retirement benefits. Boards of
981 trustees reemploying such instructors are subject to the
982 retirement contribution required in subparagraph 7. A retired
983 member may be reemployed as an adjunct instructor for no more
984 than 780 hours during the first 12 months of retirement. Any
985 retired member reemployed for more than 780 hours during the
986 first 12 months of retirement shall give timely notice in
987 writing to the employer and to the division of the date he or
988 she will exceed the limitation. The division shall suspend his
989 or her retirement benefits for the remainder of the first 12
990 months of retirement. Any person employed in violation of this
991 subparagraph and any employing agency which knowingly employs or
992 appoints such person without notifying the Division of
993 Retirement to suspend retirement benefits shall be jointly and
994 severally liable for reimbursement to the retirement trust fund
995 of any benefits paid during the reemployment limitation period.
996 To avoid liability, such employing agency shall have a written
997 statement from the retiree that he or she is not retired from a
998 state-administered retirement system. Any retirement benefits
999 received by a retired member while reemployed in excess of 780
1000 hours during the first 12 months of retirement shall be repaid
1001 to the Retirement System Trust Fund, and retirement benefits
1002 shall remain suspended until repayment is made. Benefits
1003 suspended beyond the end of the retired member’s first 12 months
1004 of retirement shall apply toward repayment of benefits received
1005 in violation of the 780-hour reemployment limitation.
1006 5. The State University System may reemploy a retired
1007 member as an adjunct faculty member or as a participant in a
1008 phased retirement program within the State University System
1009 after the retired member has been retired for 1 calendar month,
1010 in accordance with s. 121.021(39). Any retired member who is
1011 reemployed within 1 calendar month after retirement shall void
1012 his or her application for retirement benefits. The State
1013 University System is subject to the retired contribution
1014 required in subparagraph 7., as appropriate. A retired member
1015 may be reemployed as an adjunct faculty member or a participant
1016 in a phased retirement program for no more than 780 hours during
1017 the first 12 months of his or her retirement. Any retired member
1018 reemployed for more than 780 hours during the first 12 months of
1019 retirement shall give timely notice in writing to the employer
1020 and to the division of the date he or she will exceed the
1021 limitation. The division shall suspend his or her retirement
1022 benefits for the remainder of the first 12 months of retirement.
1023 Any person employed in violation of this subparagraph and any
1024 employing agency which knowingly employs or appoints such person
1025 without notifying the Division of Retirement to suspend
1026 retirement benefits shall be jointly and severally liable for
1027 reimbursement to the retirement trust fund of any benefits paid
1028 during the reemployment limitation period. To avoid liability,
1029 such employing agency shall have a written statement from the
1030 retiree that he or she is not retired from a state-administered
1031 retirement system. Any retirement benefits received by a retired
1032 member while reemployed in excess of 780 hours during the first
1033 12 months of retirement shall be repaid to the Retirement System
1034 Trust Fund, and retirement benefits shall remain suspended until
1035 repayment is made. Benefits suspended beyond the end of the
1036 retired member’s first 12 months of retirement shall apply
1037 toward repayment of benefits received in violation of the 780
1038 hour reemployment limitation.
1039 6. The Board of Trustees of the Florida School for the Deaf
1040 and the Blind may reemploy a retired member as a substitute
1041 teacher, substitute residential instructor, or substitute nurse
1042 on a noncontractual basis after he or she has been retired for 1
1043 calendar month, in accordance with s. 121.021(39). Any retired
1044 member who is reemployed within 1 calendar month after
1045 retirement shall void his or her application for retirement
1046 benefits. The Board of Trustees of the Florida School for the
1047 Deaf and the Blind reemploying such teachers, residential
1048 instructors, or nurses is subject to the retirement contribution
1049 required by subparagraph 7. Reemployment of a retired member as
1050 a substitute teacher, substitute residential instructor, or
1051 substitute nurse is limited to 780 hours during the first 12
1052 months of his or her retirement. Any retired member reemployed
1053 for more than 780 hours during the first 12 months of retirement
1054 shall give timely notice in writing to the employer and to the
1055 division of the date he or she will exceed the limitation. The
1056 division shall suspend his or her retirement benefits for the
1057 remainder of the first 12 months of retirement. Any person
1058 employed in violation of this subparagraph and any employing
1059 agency which knowingly employs or appoints such person without
1060 notifying the Division of Retirement to suspend retirement
1061 benefits shall be jointly and severally liable for reimbursement
1062 to the retirement trust fund of any benefits paid during the
1063 reemployment limitation period. To avoid liability, such
1064 employing agency shall have a written statement from the retiree
1065 that he or she is not retired from a state-administered
1066 retirement system. Any retirement benefits received by a retired
1067 member while reemployed in excess of 780 hours during the first
1068 12 months of retirement shall be repaid to the Retirement System
1069 Trust Fund, and his or her retirement benefits shall remain
1070 suspended until payment is made. Benefits suspended beyond the
1071 end of the retired member’s first 12 months of retirement shall
1072 apply toward repayment of benefits received in violation of the
1073 780-hour reemployment limitation.
1074 7. The employment by an employer of any retiree or DROP
1075 participant of any state-administered retirement system shall
1076 have no effect on the average final compensation or years of
1077 creditable service of the retiree or DROP participant. Prior to
1078 July 1, 1991, upon employment of any person, other than an
1079 elected officer as provided in s. 121.053, who has been retired
1080 under any state-administered retirement program, the employer
1081 shall pay retirement contributions in an amount equal to the
1082 unfunded actuarial liability portion of the employer
1083 contribution which would be required for regular members of the
1084 Florida Retirement System. Effective July 1, 1991, contributions
1085 shall be made as provided in s. 121.122 for retirees with
1086 renewed membership or subsection (13) with respect to DROP
1087 participants.
1088 8. Any person who has previously retired and who is holding
1089 an elective public office or an appointment to an elective
1090 public office eligible for the Elected Officers’ Class on or
1091 after July 1, 1990, shall be enrolled in the Florida Retirement
1092 System as provided in s. 121.053(1)(b) or, if holding an
1093 elective public office that does not qualify for the Elected
1094 Officers’ Class on or after July 1, 1991, shall be enrolled in
1095 the Florida Retirement System as provided in s. 121.122, and
1096 shall continue to receive retirement benefits as well as
1097 compensation for the elected officer’s service for as long as he
1098 or she remains in elective office. However, any retired member
1099 who served in an elective office prior to July 1, 1990,
1100 suspended his or her retirement benefit, and had his or her
1101 Florida Retirement System membership reinstated shall, upon
1102 retirement from such office, have his or her retirement benefit
1103 recalculated to include the additional service and compensation
1104 earned.
1105 9. Any person who is holding an elective public office
1106 which is covered by the Florida Retirement System and who is
1107 concurrently employed in nonelected covered employment may elect
1108 to retire while continuing employment in the elective public
1109 office, provided that he or she shall be required to terminate
1110 his or her nonelected covered employment. Any person who
1111 exercises this election shall receive his or her retirement
1112 benefits in addition to the compensation of the elective office
1113 without regard to the time limitations otherwise provided in
1114 this subsection. No person who seeks to exercise the provisions
1115 of this subparagraph, as the same existed prior to May 3, 1984,
1116 shall be deemed to be retired under those provisions, unless
1117 such person is eligible to retire under the provisions of this
1118 subparagraph, as amended by chapter 84-11, Laws of Florida.
1119 10. The limitations of this paragraph apply to reemployment
1120 in any capacity with an “employer” as defined in s. 121.021(10),
1121 irrespective of the category of funds from which the person is
1122 compensated.
1123 11. An employing agency may reemploy a retired member as a
1124 firefighter or paramedic after the retired member has been
1125 retired for 1 calendar month, in accordance with s. 121.021(39).
1126 Any retired member who is reemployed within 1 calendar month
1127 after retirement shall void his or her application for
1128 retirement benefits. The employing agency reemploying such
1129 firefighter or paramedic is subject to the retired contribution
1130 required in subparagraph 8. Reemployment of a retired
1131 firefighter or paramedic is limited to no more than 780 hours
1132 during the first 12 months of his or her retirement. Any retired
1133 member reemployed for more than 780 hours during the first 12
1134 months of retirement shall give timely notice in writing to the
1135 employer and to the division of the date he or she will exceed
1136 the limitation. The division shall suspend his or her retirement
1137 benefits for the remainder of the first 12 months of retirement.
1138 Any person employed in violation of this subparagraph and any
1139 employing agency which knowingly employs or appoints such person
1140 without notifying the Division of Retirement to suspend
1141 retirement benefits shall be jointly and severally liable for
1142 reimbursement to the Retirement System Trust Fund of any
1143 benefits paid during the reemployment limitation period. To
1144 avoid liability, such employing agency shall have a written
1145 statement from the retiree that he or she is not retired from a
1146 state-administered retirement system. Any retirement benefits
1147 received by a retired member while reemployed in excess of 780
1148 hours during the first 12 months of retirement shall be repaid
1149 to the Retirement System Trust Fund, and retirement benefits
1150 shall remain suspended until repayment is made. Benefits
1151 suspended beyond the end of the retired member’s first 12 months
1152 of retirement shall apply toward repayment of benefits received
1153 in violation of the 780-hour reemployment limitation.
1154 (c) The provisions of this subsection apply to retirees, as
1155 defined in s. 121.4501(2)(j), of the Public Employee Optional
1156 Retirement Program created in part II, subject to the following
1157 conditions:
1158 1. Such retirees may not be reemployed with an employer
1159 participating in the Florida Retirement System as provided in
1160 paragraph (b) until such person has been retired for 3 calendar
1161 months, unless the participant has reached the normal retirement
1162 requirements of the defined benefit plan as provided in s.
1163 121.021(29).
1164 2. Such retiree employed in violation of this subsection
1165 and any employing agency that knowingly employs or appoints such
1166 person shall be jointly and severally liable for reimbursement
1167 of any benefits paid to the retirement trust fund from which the
1168 benefits were paid, including the Retirement System Trust Fund
1169 and the Public Employee Optional Retirement Program Trust Fund,
1170 as appropriate. To avoid liability, such employing agency must
1171 have a written statement from the retiree that he or she is not
1172 retired from a state-administered retirement system.
1173 (13) DEFERRED RETIREMENT OPTION PROGRAM.—In general, and
1174 subject to the provisions of this section, the Deferred
1175 Retirement Option Program, hereinafter referred to as the DROP,
1176 is a program under which an eligible member of the Florida
1177 Retirement System may elect to participate, deferring receipt of
1178 retirement benefits while continuing employment with his or her
1179 Florida Retirement System employer. The deferred monthly
1180 benefits shall accrue in the Florida Retirement System Trust
1181 Fund on behalf of the participant, plus interest compounded
1182 monthly, for the specified period of the DROP participation, as
1183 provided in paragraph (c). Upon termination of employment, the
1184 participant shall receive the total DROP benefits and begin to
1185 receive the previously determined normal retirement benefits.
1186 Participation in the DROP does not guarantee employment for the
1187 specified period of DROP. Participation in the DROP by an
1188 eligible member beyond the initial 60-month period as authorized
1189 in this subsection shall be on an annual contractual basis for
1190 all participants.
1191 (a) Eligibility of member to participate in the DROP.—All
1192 active Florida Retirement System members in a regularly
1193 established position, and all active members of either the
1194 Teachers’ Retirement System established in chapter 238 or the
1195 State and County Officers’ and Employees’ Retirement System
1196 established in chapter 122, which systems are consolidated
1197 within the Florida Retirement System under s. 121.011, are
1198 eligible to elect participation in the DROP if provided that:
1199 1. The member is not a renewed member of the Florida
1200 Retirement System under s. 121.122, or a member of the State
1201 Community College System Optional Retirement Program under s.
1202 121.051, the Senior Management Service Optional Annuity Program
1203 under s. 121.055, or the optional retirement program for the
1204 State University System under s. 121.35.
1205 2. Except as provided in subparagraph 6., election to
1206 participate is made within 12 months immediately following the
1207 date on which the member first reaches normal retirement date,
1208 or, for a member who reaches normal retirement date based on
1209 service before he or she reaches age 62, or age 55 for Special
1210 Risk Class members, election to participate may be deferred to
1211 the 12 months immediately following the date the member attains
1212 57, or age 52 for Special Risk Class members. A member who
1213 delays DROP participation during the 12-month period immediately
1214 following his or her maximum DROP deferral date, except as
1215 provided in subparagraph 6., loses a month of DROP participation
1216 for each month delayed. For a member who first reached normal
1217 retirement date or the deferred eligibility date described above
1218 prior to the effective date of this section, election to
1219 participate shall be made within 12 months after the effective
1220 date of this section. A member who fails to make an election
1221 within the such 12-month limitation period forfeits shall
1222 forfeit all rights to participate in the DROP. The member shall
1223 advise his or her employer and the division in writing of the
1224 date on which the DROP begins shall begin. The Such beginning
1225 date may be subsequent to the 12-month election period, but must
1226 be within the original 60-month participation or, with respect
1227 to members who are instructional personnel employed by the
1228 Florida School for the Deaf and the Blind and who have received
1229 authorization by the Board of Trustees of the Florida School for
1230 the Deaf and the Blind to participate in the DROP beyond 60
1231 months, or who are instructional personnel as defined in s.
1232 1012.01(2)(a)-(d) in grades K-12 and who have received
1233 authorization by the district school superintendent to
1234 participate in the DROP beyond 60 months, the 96-month
1235 limitation period as provided in subparagraph (b)1. When
1236 establishing eligibility of the member to participate in the
1237 DROP for the 60-month or, with respect to members who are
1238 instructional personnel employed by the Florida School for the
1239 Deaf and the Blind and who have received authorization by the
1240 Board of Trustees of the Florida School for the Deaf and the
1241 Blind to participate in the DROP beyond 60 months, or who are
1242 instructional personnel as defined in s. 1012.01(2)(a)-(d) in
1243 grades K-12 and who have received authorization by the district
1244 school superintendent to participate in the DROP beyond 60
1245 months, the 96-month maximum participation period, the member
1246 may elect to include or exclude any optional service credit
1247 purchased by the member from the total service used to establish
1248 the normal retirement date. A member who has with dual normal
1249 retirement dates is shall be eligible to elect to participate in
1250 DROP within 12 months after attaining normal retirement date in
1251 either class.
1252 3. The employer of a member electing to participate in the
1253 DROP, or employers if dually employed, shall acknowledge in
1254 writing to the division the date the member’s participation in
1255 the DROP begins and the date the member’s employment and DROP
1256 participation will terminate.
1257 4. Simultaneous employment of a participant by additional
1258 Florida Retirement System employers subsequent to the
1259 commencement of participation in the DROP is shall be
1260 permissible if the provided such employers acknowledge in
1261 writing a DROP termination date no later than the participant’s
1262 existing termination date or the 60-month limitation period as
1263 provided in subparagraph (b)1.
1264 5. A DROP participant may change employers while
1265 participating in the DROP, subject to the following:
1266 a. A change of employment must take place without a break
1267 in service so that the member receives salary for each month of
1268 continuous DROP participation. If a member receives no salary
1269 during a month, DROP participation shall cease unless the
1270 employer verifies a continuation of the employment relationship
1271 for such participant pursuant to s. 121.021(39)(b).
1272 b. Such participant and new employer shall notify the
1273 division of the identity of the new employer on forms required
1274 by the division as to the identity of the new employer.
1275 c. The new employer shall acknowledge, in writing, the
1276 participant’s DROP termination date, which may be extended but
1277 not beyond the maximum participation original 60-month or, with
1278 respect to members who are instructional personnel employed by
1279 the Florida School for the Deaf and the Blind and who have
1280 received authorization by the Board of Trustees of the Florida
1281 School for the Deaf and the Blind to participate in the DROP
1282 beyond 60 months, or who are instructional personnel as defined
1283 in s. 1012.01(2)(a)-(d) in grades K-12 and who have received
1284 authorization by the district school superintendent to
1285 participate in the DROP beyond 60 months, the 96-month period
1286 provided in subparagraph (b)1., shall acknowledge liability for
1287 any additional retirement contributions and interest required if
1288 the participant fails to timely terminate employment, and is
1289 shall be subject to the adjustment required in sub-subparagraph
1290 (c)5.d.
1291 6. Effective July 1, 2001, for instructional personnel as
1292 defined in s. 1012.01(2), election to participate in the DROP is
1293 shall be made at any time following the date on which the member
1294 first reaches normal retirement date. The member shall advise
1295 his or her employer and the division in writing of the date on
1296 which DROP begins the Deferred Retirement Option Program shall
1297 begin. When establishing eligibility of the member to
1298 participate in the DROP for the 60-month or, with respect to
1299 members who are instructional personnel employed by the Florida
1300 School for the Deaf and the Blind and who have received
1301 authorization by the Board of Trustees of the Florida School for
1302 the Deaf and the Blind to participate in the DROP beyond 60
1303 months, or who are instructional personnel as defined in s.
1304 1012.01(2)(a)-(d) in grades K-12 and who have received
1305 authorization by the district school superintendent to
1306 participate in the DROP beyond 60 months, the 96-month maximum
1307 participation period, as provided in subparagraph (b)1., the
1308 member may elect to include or exclude any optional service
1309 credit purchased by the member from the total service used to
1310 establish the normal retirement date. A member who has with dual
1311 normal retirement dates is shall be eligible to elect to
1312 participate in either class.
1313 (b) Participation in the DROP.—
1314 1.a. Except as provided in sub-subparagraph b., an eligible
1315 member may elect to participate in the DROP for a period not to
1316 exceed a maximum of 60 calendar months. or, with respect to
1317 b. Members who are instructional personnel employed by the
1318 Florida School for the Deaf and the Blind and authorized who
1319 have received authorization by the Board of Trustees of the
1320 Florida School for the Deaf and the Blind to participate in the
1321 DROP beyond 60 months, or who are instructional personnel as
1322 defined in s. 1012.01(2)(a)-(d) in grades K-12 and authorized
1323 who have received authorization by the district school
1324 superintendent to participate in the DROP beyond 60 calendar
1325 months, or who are instructional personnel as defined in s.
1326 1012.01(2) employed by a developmental research school and
1327 authorized by the school’s director, or if the school has no
1328 director, by the school’s principal, may participate in DROP for
1329 up to 36 calendar months beyond the 60-month period specified in
1330 sub-subparagraph a. 96 calendar months immediately following the
1331 date on which the member first reaches his or her normal
1332 retirement date or the date to which he or she is eligible to
1333 defer his or her election to participate as provided in
1334 subparagraph (a)2. However, a member who has reached normal
1335 retirement date prior to the effective date of the DROP shall be
1336 eligible to participate in the DROP for a period of time not to
1337 exceed 60 calendar months or, with respect to members who are
1338 instructional personnel employed by the Florida School for the
1339 Deaf and the Blind and who have received authorization by the
1340 Board of Trustees of the Florida School for the Deaf and the
1341 Blind to participate in the DROP beyond 60 months, or who are
1342 instructional personnel as defined in s. 1012.01(2)(a)-(d) in
1343 grades K-12 and who have received authorization by the district
1344 school superintendent to participate in the DROP beyond 60
1345 calendar months, 96 calendar months immediately following the
1346 effective date of the DROP, except a member of the Special Risk
1347 Class who has reached normal retirement date prior to the
1348 effective date of the DROP and whose total accrued value exceeds
1349 75 percent of average final compensation as of his or her
1350 effective date of retirement shall be eligible to participate in
1351 the DROP for no more than 36 calendar months immediately
1352 following the effective date of the DROP.
1353 2. Upon deciding to participate in the DROP, the member
1354 shall submit, on forms required by the division:
1355 a. A written election to participate in the DROP;
1356 b. Selection of the DROP participation and termination
1357 dates, which satisfy the limitations stated in paragraph (a) and
1358 subparagraph 1. The Such termination date must shall be in a
1359 binding letter of resignation to with the employer, establishing
1360 a deferred termination date. The member may change the
1361 termination date within the limitations of subparagraph 1., but
1362 only with the written approval of the his or her employer;
1363 c. A properly completed DROP application for service
1364 retirement as provided in this section; and
1365 d. Any other information required by the division.
1366 3. The DROP participant is shall be a retiree under the
1367 Florida Retirement System for all purposes, except for paragraph
1368 (5)(f) and subsection (9) and ss. 112.3173, 112.363, 121.053,
1369 and 121.122. DROP participation is final and cannot be canceled
1370 by the participant after the first payment is credited during
1371 the DROP participation period. However, participation in the
1372 DROP does not alter the participant’s employment status, and the
1373 member is such employee shall not be deemed retired from
1374 employment until his or her deferred resignation is effective
1375 and termination occurs as provided in s. 121.021(39).
1376 4. Elected officers are shall be eligible to participate in
1377 the DROP subject to the following:
1378 a. An elected officer who reaches normal retirement date
1379 during a term of office may defer the election to participate in
1380 the DROP until the next succeeding term in that office. An Such
1381 elected officer who exercises this option may participate in the
1382 DROP for up to 60 calendar months or a period of no longer than
1383 the such succeeding term of office, whichever is less.
1384 b. An elected or a nonelected participant may run for a
1385 term of office while participating in DROP and, if elected,
1386 extend the DROP termination date accordingly;, except, however,
1387 if the such additional term of office exceeds the 60-month
1388 limitation established in subparagraph 1., and the officer does
1389 not resign from office within such 60-month limitation, the
1390 retirement and the participant’s DROP is shall be null and void
1391 as provided in sub-subparagraph (c)5.d.
1392 c.(I) For DROP participation ending before January 1, 2010,
1393 an elected officer who is dually employed and elects to
1394 participate in DROP must shall be required to satisfy the
1395 definition of termination within the original 60-month period or
1396 maximum participation or, with respect to members who are
1397 instructional personnel employed by the Florida School for the
1398 Deaf and the Blind and who have received authorization by the
1399 Board of Trustees of the Florida School for the Deaf and the
1400 Blind to participate in the DROP beyond 60 months, or who are
1401 instructional personnel as defined in s. 1012.01(2)(a)-(d) in
1402 grades K-12 and who have received authorization by the district
1403 school superintendent to participate in the DROP beyond 60
1404 months, the 96-month limitation period as provided in
1405 subparagraph 1. for the nonelected position and may continue
1406 employment as an elected officer as provided in s. 121.053. The
1407 elected officer shall will be enrolled as a renewed member in
1408 the Elected Officers’ Class or the Regular Class, as provided in
1409 ss. 121.053 and 121.122, on the first day of the month after
1410 termination of employment in the nonelected position and
1411 termination of DROP. Distribution of the DROP benefits shall be
1412 made as provided in paragraph (c).
1413 (II) For DROP participation ending on or after January 1,
1414 2010, an elected officer who is dually employed and elects to
1415 participate in DROP must satisfy the definition of termination
1416 in s. 121.021(39) for the nonelected position within the
1417 original 60-month period or maximum period as provided in
1418 subparagraph 1. If the elected officer does not terminate from
1419 elective office within the original 60-month period or maximum
1420 period, he or she may defer termination as provided in s.
1421 121.053 but is subject to termination in s. 121.021(39) to
1422 finalize retirement.
1423 (c) Benefits payable under the DROP.—
1424 1. Effective on with the date of DROP participation, the
1425 member’s initial normal monthly benefit, including creditable
1426 service, optional form of payment, and average final
1427 compensation, and the effective date of retirement are shall be
1428 fixed. The beneficiary established under the Florida Retirement
1429 System shall be the beneficiary eligible to receive any DROP
1430 benefits payable if the DROP participant dies prior to the
1431 completion of the period of DROP participation. If In the event
1432 a joint annuitant predeceases the member, the member may name a
1433 beneficiary to receive accumulated DROP benefits payable. The
1434 Such retirement benefit, the annual cost of living adjustments
1435 provided in s. 121.101, and interest shall accrue monthly in the
1436 Florida Retirement System Trust Fund. The Such interest shall
1437 accrue at an effective annual rate of 6.5 percent compounded
1438 monthly, on the prior month’s accumulated ending balance, up to
1439 the month of termination or death.
1440 2. Each employee who elects to participate in the DROP may
1441 shall be allowed to elect to receive a lump-sum payment for
1442 accrued annual leave earned in accordance with agency policy
1443 upon beginning participation in the DROP. The Such accumulated
1444 leave payment certified to the division upon commencement of
1445 DROP shall be included in the calculation of the member’s
1446 average final compensation. The employee electing the such lump
1447 sum payment is upon beginning participation in DROP will not be
1448 eligible to receive a second lump-sum payment upon termination,
1449 except to the extent the employee has earned additional annual
1450 leave which combined with the original payment does not exceed
1451 the maximum lump-sum payment allowed by the employing agency’s
1452 policy or rules. An Such early lump-sum payment shall be based
1453 on the hourly wage of the employee at the time he or she begins
1454 participation in the DROP. If the member elects to wait and
1455 receive a such lump-sum payment upon termination of DROP and
1456 termination of employment with the employer, any accumulated
1457 leave payment made at that time may not cannot be included in
1458 the member’s retirement benefit, which was determined and fixed
1459 by law when the employee elected to participate in the DROP.
1460 3. The effective date of DROP participation and the
1461 effective date of retirement of a DROP participant shall be the
1462 first day of the month selected by the member to begin
1463 participation in the DROP, provided such date is properly
1464 established, with the written confirmation of the employer, and
1465 the approval of the division, on forms required by the division.
1466 4. Normal retirement benefits and any interest thereon
1467 shall continue to accrue in the DROP until the established
1468 termination date of the DROP, or until the participant
1469 terminates employment or dies prior to such date. Although
1470 individual DROP accounts shall not be established, a separate
1471 accounting of each participant’s accrued benefits under the DROP
1472 shall be calculated and provided to participants.
1473 5. At the conclusion of the participant’s DROP, the
1474 division shall distribute the participant’s total accumulated
1475 DROP benefits, subject to the following provisions:
1476 a. The division shall receive verification by the
1477 participant’s employer or employers that the such participant
1478 has terminated employment as provided in s. 121.021(39)(b).
1479 b. The terminated DROP participant or, if deceased, the
1480 such participant’s named beneficiary, shall elect on forms
1481 provided by the division to receive payment of the DROP benefits
1482 in accordance with one of the options listed below. If For a
1483 participant or beneficiary who fails to elect a method of
1484 payment within 60 days after of termination of the DROP, the
1485 division shall will pay a lump sum as provided in sub-sub
1486 subparagraph (I).
1487 (I) Lump sum.—All accrued DROP benefits, plus interest,
1488 less withholding taxes remitted to the Internal Revenue Service,
1489 shall be paid to the DROP participant or surviving beneficiary.
1490 (II) Direct rollover.—All accrued DROP benefits, plus
1491 interest, shall be paid from the DROP directly to the custodian
1492 of an eligible retirement plan as defined in s. 402(c)(8)(B) of
1493 the Internal Revenue Code. However, in the case of an eligible
1494 rollover distribution to the surviving spouse of a deceased
1495 participant, an eligible retirement plan is an individual
1496 retirement account or an individual retirement annuity as
1497 described in s. 402(c)(9) of the Internal Revenue Code.
1498 (III) Partial lump sum.—A portion of the accrued DROP
1499 benefits shall be paid to the DROP participant or surviving
1500 spouse, less withholding taxes remitted to the Internal Revenue
1501 Service, and the remaining DROP benefits shall be transferred
1502 directly to the custodian of an eligible retirement plan as
1503 defined in s. 402(c)(8)(B) of the Internal Revenue Code.
1504 However, in the case of an eligible rollover distribution to the
1505 surviving spouse of a deceased participant, an eligible
1506 retirement plan is an individual retirement account or an
1507 individual retirement annuity as described in s. 402(c)(9) of
1508 the Internal Revenue Code. The proportions shall be specified by
1509 the DROP participant or surviving beneficiary.
1510 c. The form of payment selected by the DROP participant or
1511 surviving beneficiary must comply complies with the minimum
1512 distribution requirements of the Internal Revenue Code.
1513 d. A DROP participant who fails to terminate employment as
1514 defined in s. 121.021(39)(b) shall be deemed as not to be
1515 retired, and the DROP election is shall be null and void.
1516 Florida Retirement System membership shall be reestablished
1517 retroactively to the date of the commencement of the DROP, and
1518 each employer with whom the participant continues employment
1519 must shall be required to pay to the Florida Retirement System
1520 Trust Fund the difference between the DROP contributions paid in
1521 paragraph (i) and the contributions required for the applicable
1522 Florida Retirement System class of membership during the period
1523 the member participated in the DROP, plus 6.5 percent interest
1524 compounded annually.
1525 6. The retirement benefits of a retiree who participated in
1526 DROP and meets the definition of termination in s.
1527 121.021(39)(b), but is in violation of the reemployment
1528 provisions as provided in subsection (9), shall be suspended
1529 during the months in which the reemployed retiree is in
1530 violation. Any retiree reemployed in violation of this
1531 subparagraph and any employing agency that employs or appoints
1532 such member without notifying the Division of Retirement to
1533 suspend retirement benefits are jointly and severally liable for
1534 any benefits paid during the reemployment limitation period. To
1535 avoid liability, the employing agency must have a written
1536 statement from the retiree that he or she is not retired from a
1537 state-administered retirement system.
1538 a. For DROP participation ending before January 1, 2010,
1539 any retirement benefits received by a retiree while employed in
1540 violation of the reemployment limitations during the 12-month
1541 limitation period must be repaid to the Florida Retirement
1542 System Trust Fund, and his or her retirement benefits shall
1543 remain suspended until payment is made. Benefits suspended
1544 beyond the end of the retiree’s 12-calendar month limitation
1545 period apply toward repayment of benefits received in violation
1546 of the reemployment limitations.
1547 b. For DROP participation ending on or after January 1,
1548 2010, any retirement benefits received by a retiree while
1549 employed in violation of the reemployment limitations must be
1550 repaid to the Florida Retirement System Trust Fund, and his or
1551 her retirement benefits shall remain suspended until payment is
1552 made. Benefits suspended after the retiree has terminated
1553 employment shall apply toward repayment of benefits received in
1554 violation of the reemployment limitations.
1555 7.6. The accrued benefits of any DROP participant, and any
1556 contributions accumulated under the such program, are shall not
1557 be subject to assignment, execution, attachment, or to any legal
1558 process whatsoever, except for qualified domestic relations
1559 orders by a court of competent jurisdiction, income deduction
1560 orders as provided in s. 61.1301, and federal income tax levies.
1561 8.7. DROP participants are shall not be eligible for
1562 disability retirement benefits as provided in subsection (4).
1563 (d) Death benefits under the DROP.—
1564 1. Upon the death of a DROP participant, the named
1565 beneficiary is shall be entitled to apply for and receive the
1566 accrued benefits in the DROP as provided in sub-subparagraph
1567 (c)5.b.
1568 2. The normal retirement benefit accrued to the DROP during
1569 the month of a participant’s death shall be the final monthly
1570 benefit credited for such DROP participant.
1571 3. Eligibility to participate in the DROP terminates upon
1572 death of the participant. If the participant dies on or after
1573 the effective date of enrollment in the DROP, but prior to the
1574 first monthly benefit being credited to the DROP, Florida
1575 Retirement System benefits shall be paid in accordance with
1576 subparagraph (7)(c)1. or subparagraph 2.
1577 4. A DROP participant’s participants’ survivors shall not
1578 be eligible to receive Florida Retirement System death benefits
1579 as provided in paragraph (7)(d).
1580 (e) Cost-of-living adjustment.—On each July 1, the
1581 participant’s participants’ normal retirement benefit shall be
1582 increased as provided in s. 121.101.
1583 (f) Retiree health insurance subsidy.—DROP participants are
1584 not eligible to apply for the retiree health insurance subsidy
1585 payments as provided in s. 112.363 until such participants have
1586 terminated employment and participation in the DROP.
1587 (g) Renewed membership.—
1588 1. DROP participants who end DROP participation before
1589 January 1, 2010 are shall not be eligible for renewed membership
1590 in the Florida Retirement System under ss. 121.053 and 121.122
1591 until termination of employment is effectuated as provided in s.
1592 121.021(39)(b).
1593 2. DROP participants who end DROP participation on or after
1594 January 1, 2010, are not eligible for renewed membership in a
1595 state-administered retirement system.
1596 (h) Employment limitation after DROP participation.—Upon
1597 satisfying the definition of termination of employment as
1598 provided in s. 121.021(39)(b), DROP participants shall be
1599 subject to such reemployment limitations as other retirees.
1600 Reemployment restrictions applicable to retirees as provided in
1601 subsection (9) shall not apply to DROP participants until their
1602 employment and participation in the DROP are terminated.
1603 (i) Contributions.—
1604 1. All employers paying the salary of a DROP participant
1605 filling a regularly established position shall contribute 8.0
1606 percent of such participant’s gross compensation for the period
1607 of July 1, 2002, through June 30, 2003, and the 11.56 percent of
1608 such compensation required by s. 121.71 thereafter, which shall
1609 constitute the entire employer DROP contribution with respect to
1610 such participant. Such contributions, payable to the Florida
1611 Retirement System Trust Fund in the same manner as required in
1612 s. 121.071, shall be made as appropriate for each pay period and
1613 are in addition to contributions required for social security
1614 and the Retiree Health Insurance Subsidy Trust Fund. Such
1615 employer, social security, and health insurance subsidy
1616 contributions are not included in the DROP.
1617 2. The employer shall, in addition to subparagraph 1., also
1618 withhold one-half of the entire social security contribution
1619 required for the participant. Contributions for social security
1620 by each participant and each employer, in the amount required
1621 for social security coverage as now or hereafter provided by the
1622 federal Social Security Act, shall be in addition to
1623 contributions specified in subparagraph 1.
1624 3. All employers paying the salary of a DROP participant
1625 filling a regularly established position shall contribute the
1626 percent of such participant’s gross compensation required in s.
1627 121.071(4), which shall constitute the employer’s health
1628 insurance subsidy contribution with respect to such participant.
1629 Such contributions shall be deposited by the administrator in
1630 the Retiree Health Insurance Subsidy Trust Fund.
1631 (j) Forfeiture of retirement benefits.—Nothing in this
1632 section shall be construed to remove DROP participants from the
1633 scope of s. 8(d), Art. II of the State Constitution, s.
1634 112.3173, and paragraph (5)(f). DROP participants who commit a
1635 specified felony offense while employed will be subject to
1636 forfeiture of all retirement benefits, including DROP benefits,
1637 pursuant to those provisions of law.
1638 (k) Administration of program.—The division shall make such
1639 rules as are necessary for the effective and efficient
1640 administration of this subsection. The division shall not be
1641 required to advise members of the federal tax consequences of an
1642 election related to the DROP but may advise members to seek
1643 independent advice.
1644 (14) PAYMENT OF BENEFITS.—This subsection applies to the
1645 payment of benefits to a payee (retiree or beneficiary) under
1646 the Florida Retirement System:
1647 (a) Federal income tax shall be withheld in accordance with
1648 federal law, unless the payee elects otherwise on Form W-4P. The
1649 division shall prepare and distribute to each recipient of
1650 monthly retirement benefits an appropriate income tax form that
1651 reflects the recipient’s income and federal income tax withheld
1652 for the calendar year just ended.
1653 (b) Subject to approval by the division in accordance with
1654 rule 60S-4.015, Florida Administrative Code, a payee receiving
1655 retirement benefits under the Florida Retirement System may also
1656 have the following payments deducted from his or her monthly
1657 benefit:
1658 1. Premiums for life and health-related insurance policies
1659 from approved companies.
1660 2. Life insurance premiums for the State Group Life
1661 Insurance Plan, if authorized in writing by the payee and by the
1662 Department of Management Services.
1663 3. Repayment of overpayments from the Florida Retirement
1664 System Trust Fund, the State Employees’ Health Insurance Trust
1665 Fund, or the State Employees’ Life Insurance Trust Fund, upon
1666 notification of the payee.
1667 4. Payments to an alternate payee for alimony, child
1668 support, or division of marital assets pursuant to a qualified
1669 domestic relations order under s. 222.21 or an income deduction
1670 order under s. 61.1301.
1671 5. Payments to the Internal Revenue Service for federal
1672 income tax levies, upon notification of the division by the
1673 Internal Revenue Service.
1674 (c) A payee shall notify the division of any change in his
1675 or her address. The division may suspend benefit payments to a
1676 payee if correspondence sent to the payee’s mailing address is
1677 returned due to an incorrect address. Benefit payments shall be
1678 resumed upon notification to the division of the payee’s new
1679 address.
1680 (d) A payee whose retirement benefits are reduced by the
1681 application of maximum benefit limits under s. 415(b) of the
1682 Internal Revenue Code, as specified in s. 121.30(5), shall have
1683 the portion of his or her calculated benefit in the Florida
1684 Retirement System defined benefit plan which exceeds such
1685 federal limitation paid through the Florida Retirement System
1686 Preservation of Benefits Plan, as provided in s. 121.1001.
1687 (e) No benefit may be reduced for the purpose of preserving
1688 the member’s eligibility for a federal program.
1689 (f) The division shall adopt rules establishing procedures
1690 for determining that the persons to whom benefits are being paid
1691 are still living. The division shall suspend the benefits being
1692 paid to any payee when it is unable to contact such payee and to
1693 confirm that he or she is still living.
1694 Section 6. Section 121.122, Florida Statutes, is amended to
1695 read:
1696 121.122 Renewed membership in system.—
1697 (1) A retiree of a state-administered retirement system who
1698 is initially reemployed on or after January 1, 2010, is not
1699 eligible for renewed membership.
1700 (2) Except as provided in s. 121.053, effective July 1,
1701 1991, through December 31, 2009, any retiree of a state
1702 administered retirement system who is initially reemployed
1703 employed in a regularly established position with a covered
1704 employer shall be enrolled as a compulsory member of the Regular
1705 Class of the Florida Retirement System or, effective July 1,
1706 1997, through December 31, 2009, any retiree of a state
1707 administered retirement system who is initially reemployed
1708 employed in a position included in the Senior Management Service
1709 Class shall be enrolled as a compulsory member of the Senior
1710 Management Service Class of the Florida Retirement System as
1711 provided in s. 121.055, and shall be entitled to receive an
1712 additional retirement benefit, subject to the following
1713 conditions:
1714 (1)(a) Such member shall resatisfy the age and service
1715 requirements as provided in this chapter for initial membership
1716 under the system, unless such member elects to participate in
1717 the Senior Management Service Optional Annuity Program in lieu
1718 of the Senior Management Service Class, as provided in s.
1719 121.055(6).
1720 (b) Such member shall not be entitled to disability
1721 benefits as provided in s. 121.091(4).
1722 (c) Such member must meet the reemployment after retirement
1723 limitations as provided in s. 121.091(9), as applicable.
1724 (3)(2) Upon reemployment of a retiree renewed membership,
1725 the employer of the such member shall pay the applicable
1726 employer contributions as required by ss. 121.71, 121.74,
1727 121.76, and 112.363 ss. 121.055(3) and 121.071(1)(a) and (4).
1728 (4)(3) The retiree of a state-administered retirement
1729 system who is initially reemployed before January 1, 2010, is
1730 Such member shall be entitled to purchase additional retirement
1731 credit in the Regular Class or the Senior Management Service
1732 Class, as applicable, for any postretirement service performed
1733 in a regularly established position as follows:
1734 (a) For regular class service before prior to July 1, 1991,
1735 by paying the Regular Class applicable employee and employer
1736 contributions for the period being claimed, plus 4 percent
1737 interest compounded annually from first year of service claimed
1738 until July 1, 1975, and 6.5 percent interest compounded
1739 thereafter, until full payment is made to the Florida Retirement
1740 System Trust Fund; or
1741 (b) For Senior Management Service Class before prior to
1742 June 1, 1997, as provided in s. 121.055(1)(j).
1743
1744 The contribution for postretirement service between July 1,
1745 1985, and July 1, 1991, for which the reemployed retiree
1746 contribution was paid, shall be the difference between such
1747 contribution and the total applicable contribution for the
1748 period being claimed, plus interest. The employer of such member
1749 may pay the applicable employer contribution in lieu of the
1750 member. If a member does not wish to claim credit for all of the
1751 postretirement service for which he or she is eligible, the
1752 service the member claims must be the most recent service.
1753 (5)(4) No creditable service for which credit was received,
1754 or which remained unclaimed, at retirement may be claimed or
1755 applied toward service credit earned following renewed
1756 membership. However, for retirees initially reemployed before
1757 January 1, 2010, service earned as an elected officer with
1758 renewed membership in the Elected Officers’ Class may be used in
1759 conjunction with creditable service earned under this section,
1760 provided the applicable vesting requirements and other existing
1761 statutory conditions required by this chapter are met.
1762 (6)(5) Notwithstanding any other limitations provided in
1763 this section, a participant of the State University System
1764 Optional Retirement Program, the State Community College
1765 Optional Retirement Program, or the Senior Management Service
1766 Optional Annuity Program who terminated employment and commenced
1767 receiving a distribution an annuity under the provisions of the
1768 optional program, who initially renews membership before January
1769 1, 2010, in the Regular Class as required by this section upon
1770 reemployment after retirement, and who had previously earned
1771 creditable Florida Retirement System service that was not
1772 included in any retirement benefit may include such previous
1773 service toward vesting and service credit in the second career
1774 benefit provided under renewed membership.
1775 (7)(6) Any renewed member who is not receiving the maximum
1776 health insurance subsidy provided in s. 112.363 shall be
1777 entitled to earn additional credit toward the maximum health
1778 insurance subsidy. Any additional subsidy due because of such
1779 additional credit shall be received only at the time of payment
1780 of the second career retirement benefit. In no case shall the
1781 total health insurance subsidy received by a retiree receiving
1782 benefits from initial and renewed membership exceed the maximum
1783 allowed in s. 112.363.
1784 Section 7. Paragraph (h) of subsection (3) and paragraphs
1785 (a) and (e) of subsection (5) of section 121.35, Florida
1786 Statutes, are amended, and paragraph (g) is added to subsection
1787 (5) of that section, to read:
1788 121.35 Optional retirement program for the State University
1789 System.—
1790 (3) ELECTION OF OPTIONAL PROGRAM.—
1791 (h) A participant in the optional retirement program may
1792 not participate in more than one state-administered retirement
1793 system, plan, or class simultaneously. Except as provided in s.
1794 121.052(6)(d), a participant who is or becomes dually employed
1795 in two or more positions covered by the Florida Retirement
1796 System, one of which is eligible for the optional program and
1797 one of which is not, may remain a member of the optional program
1798 and contributions shall be paid as required only on the salary
1799 earned in the position eligible for the optional program during
1800 such period of dual employment; or, within 90 days after
1801 becoming dually employed, he or she may elect membership in the
1802 Regular Class of the Florida Retirement System in lieu of the
1803 optional program and contributions shall be paid as required on
1804 the total salary received for all employment. At retirement, the
1805 average final compensation used to calculate any benefits for
1806 which the member becomes eligible under the Florida Retirement
1807 System shall be based on all salary reported for both positions
1808 during such period of dual employment. When such member ceases
1809 to be dually employed, he or she may, within 90 days, elect to
1810 remain in the Florida Retirement System class for which he or
1811 she is eligible or to again become a participant in the optional
1812 retirement program. Failure to elect membership in the optional
1813 program within 90 days shall result in compulsory membership in
1814 the Florida Retirement System, except that a member filling a
1815 faculty position at under a college with a faculty practice plan
1816 at the University of Florida, at or the Medical Center at the
1817 University of South Florida, or other state university shall
1818 again participate in the optional retirement program as required
1819 in s. 121.051(1)(a).
1820 (5) BENEFITS.—
1821 (a) Benefits shall be payable under the optional retirement
1822 program only to vested participants in the program, or their
1823 beneficiaries as designated by the participant in the contract
1824 with a provider company, and such benefits shall be paid only by
1825 the designated company in accordance with s. 403(b) of the
1826 Internal Revenue Code and in accordance with the terms of the
1827 annuity contract or contracts applicable to the participant.
1828 Benefits shall accrue in individual accounts that are
1829 participant-directed, portable, and funded by employer
1830 contributions and the earnings thereon. The participant must be
1831 terminated from all employment with all Florida Retirement
1832 System employers, as provided in s. 121.021(39), to begin
1833 receiving the employer-funded benefit. Benefits funded by
1834 employer contributions shall be payable in accordance with the
1835 following terms and conditions:
1836 1. Benefits shall be payable only to a participant, to his
1837 or her beneficiaries, or to his or her estate, as designated by
1838 the participant.
1839 2. Benefits shall be paid by the provider company or
1840 companies in accordance with the law, the provisions of the
1841 contract, and any applicable department board rule or policy.
1842 3. In the event of a participant’s death, moneys
1843 accumulated by, or on behalf of, the participant, less
1844 withholding taxes remitted to the Internal Revenue Service, if
1845 any, shall be distributed to the participant’s designated
1846 beneficiary or beneficiaries, or to the participant’s estate, as
1847 if the participant retired on the date of death, as provided in
1848 paragraph (c). No other death benefits shall be available for
1849 survivors of participants under the optional retirement program
1850 except for such benefits, or coverage for such benefits, as are
1851 separately afforded by the employer, at the employer’s
1852 discretion.
1853 (e) A participant who chooses to receive his or her
1854 benefits upon termination of employment as defined in s.
1855 121.021(39) has the shall have responsibility to notify the
1856 provider company of the date on which he or she wishes benefits
1857 funded by employer contributions to begin. Benefits may be
1858 deferred until such time as the participant chooses to make such
1859 application.
1860 (g) For purposes of this section, the term “retiree” means
1861 a former participant of the optional retirement program who has
1862 terminated employment and has taken a distribution, including a
1863 rollover or trustee-to-trustee transfer, as provided in this
1864 subsection, except for a mandatory distribution of a de minimis
1865 account authorized by the department.
1866 Section 8. Paragraph (f) of subsection (2) of section
1867 121.4501, Florida Statutes, is amended to read:
1868 121.4501 Public Employee Optional Retirement Program.—
1869 (2) DEFINITIONS.—As used in this part, the term:
1870 (f) “Eligible employee” means an officer or employee, as
1871 defined in s. 121.021(11), who:
1872 1. Is a member of, or is eligible for membership in, the
1873 Florida Retirement System, including any renewed member of the
1874 Florida Retirement System initially reemployed before January 1,
1875 2010; or
1876 2. Participates in, or is eligible to participate in, the
1877 Senior Management Service Optional Annuity Program as
1878 established under s. 121.055(6), the State Community College
1879 System Optional Retirement Program as established under s.
1880 121.051(2)(c), or the State University System Optional
1881 Retirement Program established under s. 121.35.
1882
1883 The term does not include any member participating in the
1884 Deferred Retirement Option Program established under s.
1885 121.091(13), a retiree of a state-administered retirement system
1886 initially reemployed on or after January 1, 2010, or a mandatory
1887 participant of the State University System Optional Retirement
1888 Program established under s. 121.35.
1889 Section 9. Paragraph (b) of subsection (1) of section
1890 121.591, Florida Statutes, is amended to read:
1891 121.591 Benefits payable under the Public Employee Optional
1892 Retirement Program of the Florida Retirement System.—Benefits
1893 may not be paid under this section unless the member has
1894 terminated employment as provided in s. 121.021(39)(a) or is
1895 deceased and a proper application has been filed in the manner
1896 prescribed by the state board or the department. The state board
1897 or department, as appropriate, may cancel an application for
1898 retirement benefits when the member or beneficiary fails to
1899 timely provide the information and documents required by this
1900 chapter and the rules of the state board and department. In
1901 accordance with their respective responsibilities as provided
1902 herein, the State Board of Administration and the Department of
1903 Management Services shall adopt rules establishing procedures
1904 for application for retirement benefits and for the cancellation
1905 of such application when the required information or documents
1906 are not received. The State Board of Administration and the
1907 Department of Management Services, as appropriate, are
1908 authorized to cash out a de minimis account of a participant who
1909 has been terminated from Florida Retirement System covered
1910 employment for a minimum of 6 calendar months. A de minimis
1911 account is an account containing employer contributions and
1912 accumulated earnings of not more than $5,000 made under the
1913 provisions of this chapter. Such cash-out must either be a
1914 complete lump-sum liquidation of the account balance, subject to
1915 the provisions of the Internal Revenue Code, or a lump-sum
1916 direct rollover distribution paid directly to the custodian of
1917 an eligible retirement plan, as defined by the Internal Revenue
1918 Code, on behalf of the participant. If any financial instrument
1919 issued for the payment of retirement benefits under this section
1920 is not presented for payment within 180 days after the last day
1921 of the month in which it was originally issued, the third-party
1922 administrator or other duly authorized agent of the State Board
1923 of Administration shall cancel the instrument and credit the
1924 amount of the instrument to the suspense account of the Public
1925 Employee Optional Retirement Program Trust Fund authorized under
1926 s. 121.4501(6). Any such amounts transferred to the suspense
1927 account are payable upon a proper application, not to include
1928 earnings thereon, as provided in this section, within 10 years
1929 after the last day of the month in which the instrument was
1930 originally issued, after which time such amounts and any
1931 earnings thereon shall be forfeited. Any such forfeited amounts
1932 are assets of the Public Employee Optional Retirement Program
1933 Trust Fund and are not subject to the provisions of chapter 717.
1934 (1) NORMAL BENEFITS.—Under the Public Employee Optional
1935 Retirement Program:
1936 (b) If a participant elects to receive his or her benefits
1937 upon termination of employment as defined in s. 121.021(39), the
1938 participant must submit a written application or an equivalent
1939 form to the third-party administrator indicating his or her
1940 preferred distribution date and selecting an authorized method
1941 of distribution as provided in paragraph (c). The participant
1942 may defer receipt of benefits until he or she chooses to make
1943 such application, subject to federal requirements.
1944 Section 10. Sections 121.093 and 121.094, Florida Statutes,
1945 are repealed.
1946 Section 11. The Legislature finds that a proper and
1947 legitimate state purpose is served when employees and retirees
1948 of the state and its political subdivisions, as well as the
1949 dependents, survivors, and beneficiaries of such employees and
1950 retirees, are extended the basic protections afforded by
1951 governmental retirement systems that provide fair and adequate
1952 benefits and that are managed, administered, and funded in an
1953 actuarially sound manner as required by s. 14, Art. X of the
1954 State Constitution and part VII of chapter 112, Florida
1955 Statutes. Therefore, the Legislature determines and declares
1956 that the amendment of s. 121.091, Florida Statutes, by this act
1957 fulfills an important state interest.
1958 Section 12. This act shall take effect July 1, 2009.
1959
1960 ================= T I T L E A M E N D M E N T ================
1961 And the title is amended as follows:
1962 Delete everything before the enacting clause
1963 and insert:
1964 A bill to be entitled
1965 An act relating to the retirement; amending s.
1966 121.021, F.S.; defining the term “retiree”; amending
1967 s. 121.051, F.S.; conforming a cross-reference;
1968 clarifying when a State Community College System
1969 Optional Retirement Program participant is considered
1970 a retiree; amending s. 121.053, F.S.; revising
1971 membership criteria for renewed elected officials;
1972 amending s. 121.055, F.S.; revising benefit payment
1973 procedures for the Senior Management Service Optional
1974 Annuity Program; clarifying when a participant is
1975 considered retired; amending s. 121.091, F.S.;
1976 revising and clarifying provisions relating to
1977 retirement benefits; deleting a restriction on the
1978 reemployment of certain personnel by the Florida
1979 School for the Deaf and the Blind; extending the
1980 period of time that instructional personnel employed
1981 by a developmental research school may participate in
1982 the Deferred Retirement Option Program (DROP);
1983 authorizing developmental research school and charter
1984 schools to reemploy certain retired members under
1985 specified conditions; providing applicability;
1986 clarifying that DROP participation cannot be canceled;
1987 clarifying maximum DROP participation; providing for
1988 the suspension of DROP benefits to a participant who
1989 is reemployed; deleting obsolete provisions; amending
1990 s. 121.122, F.S.; revising conditions under which a
1991 retiree is entitled to certain additional retirement
1992 benefits; amending s. 121.35, F.S.; revising a
1993 compulsory membership exception for certain members
1994 failing to elect membership in the optional retirement
1995 program; defining the term “retiree” for purposes of
1996 the State University System Optional Retirement
1997 Program; repealing ss. 121.093 and 121.094, F.S.,
1998 relating to instructional personnel reemployment after
1999 retirement from a developmental research school or the
2000 Florida School for the Deaf and the Blind that are
2001 reenacted in s. 121.091, F.S., and relating to
2002 instructional personnel reemployment after retirement
2003 from a charter school that are reenacted in s.
2004 121.091, F.S., respectively; providing a declaration
2005 of important state interest; providing an effective
2006 date.