The Florida Senate

¹121.5911  Disability retirement program; qualified status; rulemaking authority.--It is the intent of the Legislature that the disability retirement program for participants of the Public Employee Optional Retirement Program as created in this act must meet all applicable requirements of federal law for a qualified plan. The Department of Management Services shall seek a private letter ruling from the Internal Revenue Service on the disability retirement program for participants of the Public Employee Optional Retirement Program. Consistent with the private letter ruling, the Department of Management Services shall adopt any necessary rules required to maintain the qualified status of the disability retirement program and the Florida Retirement System defined benefit plan.

History.--s. 12, ch. 2002-273.

¹Note.--Section 11, ch. 2002-273, provides that "[n]otwithstanding any provision to the contrary and the authority of the Department of Management Services, the Department of Management Services may contract with a private-sector company selected and approved by the department for services to administer the disability benefit program. Not later than March 1, 2003, the department may provide to the Legislature for its approval an alternative method for administering and funding disability benefits for participants in the Public Employee Optional Retirement Program and the Florida Retirement System, including through commercial insurance coverage."