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The Florida Senate

2012 Florida Statutes

SECTION 73
Allocations for member disability coverage; percentage amounts.
F.S. 121.73
1121.73 Allocations for member disability coverage; percentage amounts.
(1) The allocations established in subsection (3) shall be used to provide disability coverage for members in the investment plan and shall be transferred monthly by the Division of Retirement from the Florida Retirement System Contributions Clearing Trust Fund to the disability account of the Florida Retirement System Trust Fund.
(2) The allocations are stated as a percentage of each investment plan member’s gross compensation for the calendar month. A change in a contribution percentage is effective the first day of the month for which retirement contributions may be made on or after the beginning date of the change. Contribution percentages may be modified by general law.
(3) Effective July 1, 2002, allocations from the Florida Retirement System Contributions Clearing Trust Fund to provide disability coverage for members in the investment plan, and to offset the costs of administering said coverage, are as follows:
Membership ClassPercentage of Gross Compensation
 
Regular Class0.25%
Special Risk Class1.33%
Special Risk Administrative Support Class0.45%
Elected Officers’ Class—
 Legislators, Governor,
 Lt. Governor, Cabinet Officers,
 State Attorneys, Public Defenders
0.41%
Elected Officers’ Class—
 Justices, Judges
0.73%
Elected Officers’ Class—
 County Elected Officers
0.41%
Senior Management Service Class0.26%
History.s. 1, ch. 2002-177; s. 35, ch. 2011-68.
1Note.Section 41, ch. 2011-68, provides that:

“(1) Effective upon this act becoming a law, the State Board of Administration and the Department of Management Services shall request, as soon as practicable, a determination letter and private letter ruling from the United States Internal Revenue Service. If the United States Internal Revenue Service refuses to act upon a request for a private letter ruling, then a legal opinion from a qualified tax attorney or firm may be substituted for such private letter ruling.

“(2) If the board or the department receives notification from the United States Internal Revenue Service that this act or any portion of this act will cause the Florida Retirement System, or a portion thereof, to be disqualified for tax purposes under the Internal Revenue Code, then the portion that will cause the disqualification does not apply. Upon receipt of such notice, the state board and the department shall notify the presiding officers of the Legislature.”