121.77 – Deductions from member accounts.
121.77 Deductions from member accounts.—The State Board of Administration may authorize the third-party administrator to deduct reasonable fees and apply appropriate charges to investment plan member accounts. In no event may administrative and educational expenses exceed the portion of employer contributions earmarked for such expenses under this part, except for reasonable administrative charges assessed against member […]
121.78 – Payment and distribution of contributions.
121.78 Payment and distribution of contributions.— (1) Contributions made pursuant to this part shall be paid by the employer, including the employee contribution, to the Division of Retirement by electronic funds transfer no later than the 5th working day of the month immediately following the month during which the payroll period ended. Accompanying payroll data must be […]
121.40 – Cooperative extension personnel at the Institute of Food and Agricultural Sciences; supplemental retirement benefits.
121.40 Cooperative extension personnel at the Institute of Food and Agricultural Sciences; supplemental retirement benefits.— (1) SHORT TITLE.—This section shall be known and may be cited as the “Institute of Food and Agricultural Sciences Supplemental Retirement Act.” (2) PURPOSE.—The purpose of this act is to provide a supplement to the monthly retirement benefits being paid under the federal […]
121.4501 – Florida Retirement System Investment Plan.
121.4501 Florida Retirement System Investment Plan.— (1) The Trustees of the State Board of Administration shall establish a defined contribution program called the “Florida Retirement System Investment Plan” or “investment plan” for members of the Florida Retirement System under which retirement benefits will be provided for eligible employees who elect to participate in the program. The retirement […]
121.4502 – Florida Retirement System Investment Plan Trust Fund.
121.4502 Florida Retirement System Investment Plan Trust Fund.— (1) The Florida Retirement System Investment Plan Trust Fund is created to hold the assets of the Florida Retirement System Investment Plan in trust for the exclusive benefit of the plan’s members and beneficiaries, and for the payment of reasonable administrative expenses of the plan, in accordance with s. […]
121.4503 – Florida Retirement System Contributions Clearing Trust Fund.
121.4503 Florida Retirement System Contributions Clearing Trust Fund.— (1) The Florida Retirement System Contributions Clearing Trust Fund is created as a clearing fund for disbursing employer and employee contributions to the component plans of the Florida Retirement System and shall be administered by the Department of Management Services. Funds shall be credited to the trust fund as […]
121.571 – Contributions.
121.571 Contributions.—Contributions to the Florida Retirement System Investment Plan shall be made as follows: (1) CONTRIBUTORY PLAN.—Each employer and employee shall submit contributions as required by s. 121.71. (2) CONTRIBUTION RATES GENERALLY.—Contributions to fund the retirement, disability, and line-of-duty death benefits provided under this part must be based on the uniform contribution rates established by s. 121.71 and […]
121.591 – Payment of benefits.
121.591 Payment of benefits.—Benefits may not be paid under the Florida Retirement System Investment Plan unless the member has terminated employment as provided in s. 121.021(39)(a) or is deceased and a proper application has been filed as prescribed by the state board or the department. Benefits, including employee contributions, are not payable under the investment plan […]
121.5911 – Disability retirement program; qualified status; rulemaking authority.
121.5911 Disability retirement program; qualified status; rulemaking authority.—It is the intent of the Legislature that the disability retirement program for members of the Florida Retirement System Investment Plan meet all applicable requirements of federal law for a qualified plan. The department shall seek a private letter ruling from the Internal Revenue Service on the disability retirement […]
121.5912 – Survivor benefit retirement program; qualified status; rulemaking authority.
121.5912 Survivor benefit retirement program; qualified status; rulemaking authority.—It is the intent of the Legislature that the survivor benefit retirement program for members of the Florida Retirement System Investment Plan meet all applicable requirements for a qualified plan. If the state board or the division receives notification from the Internal Revenue Service that this program or […]