122.10 – Separation From Service; Refund of Contributions.
122.10 Separation from service; refund of contributions.— (1) Should any officer or employee leave the service of the state before accumulating aggregate time of 10 years toward retirement, such officer or employee shall be entitled to a refund of 100 percent of his or her contributions made to the retirement trust fund without interest, provided however that […]
122.11 – Reemployment After Refund.
122.11 Reemployment after refund.—Any state or county officer or employee whose contributions have been refunded as provided in s. 122.10 and who is subsequently reemployed by the state or a county of the state shall be treated as those persons who enter employment of the state or a county of the state the first time as […]
122.12 – Designation of Beneficiary; Death of Participant; Forfeiture of Contributions After Benefits Paid; Survivor Benefits.
122.12 Designation of beneficiary; death of participant; forfeiture of contributions after benefits paid; survivor benefits.— (1) Any officer or employee may file, in writing, a designation of beneficiary and it shall be the duty of the department to refund 100 percent, without interest, of the contributions made to the retirement trust fund by such deceased officer or […]
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 […]
122.15 – Benefits Exempt From Taxes and Execution.
122.15 Benefits exempt from taxes and execution.— (1) The pensions, annuities, or any other benefits accrued or accruing to any person under the provisions of this chapter and the accumulated contributions and the cash securities in the funds created under this chapter are hereby exempted from any state, county or municipal tax of the state and shall […]
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 […]