Amendment
Bill No. SB 2100

Amendment No. 214921

CHAMBER ACTION
Senate		House
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1	Representative Workman offered the following:
2
3	Amendment (with title amendment)
4	Remove everything after the enacting clause and insert:
5
6	Section 1.  Paragraph (g) of subsection (2) of section
7	110.123, Florida Statutes, is amended to read:
8	110.123  State group insurance program.-
9	(2)  DEFINITIONS.-As used in this section, the term:
10	(g)  "Retired state officer or employee" or "retiree" means
11	any state or state university officer or employee who retires
12	under a state retirement system or a state optional annuity or
13	retirement program or is placed on disability retirement, and
14	who was insured under the state group insurance program at the
15	time of retirement, and who begins receiving retirement benefits
16	immediately after retirement from state or state university
17	office or employment. The term also includes In addition to
18	these requirements, any state officer or state employee who
19	retires under the Florida Retirement System Investment Plan
20	Public Employee Optional Retirement Program established under
21	part II of chapter 121 shall be considered a "retired state
22	officer or employee" or "retiree" as used in this section if he
23	or she:
24	1.  Meets the age and service requirements to qualify for
25	normal retirement as set forth in s. 121.021(29); or
26	2.  Has attained the age specified by s. 72(t)(2)(A)(i) of
27	the Internal Revenue Code and has 6 years of creditable service.
28	Section 2.  Paragraph (b) of subsection (2) and paragraph
29	(e) of subsection (3) of section 112.363, Florida Statutes, are
30	amended to read:
31	112.363  Retiree health insurance subsidy.-
32	(2)  ELIGIBILITY FOR RETIREE HEALTH INSURANCE SUBSIDY.-
33	(b)  For purposes of this section, a person is deemed
34	retired from a state-administered retirement system when he or
35	she terminates employment with all employers participating in
36	the Florida Retirement System as described in s. 121.021(39)
37	and:
38	1.  For a member participant of the investment plan Public
39	Employee Optional Retirement Program established under part II
40	of chapter 121, the participant meets the age or service
41	requirements to qualify for normal retirement as set forth in s.
42	121.021(29) and meets the definition of retiree in s.
43	121.4501(2).
44	2.  For a member of the Florida Retirement System Pension
45	Plan defined benefit program, or any employee who maintains
46	creditable service under both the pension plan defined benefit
47	program and the investment plan Public Employee Optional
48	Retirement Program, the member begins drawing retirement
49	benefits from the pension plan defined benefit program of the
50	Florida Retirement System.
51	(3)  RETIREE HEALTH INSURANCE SUBSIDY AMOUNT.-
52	(e)1.  Beginning July 1, 2001, each eligible retiree of the
53	pension plan defined benefit program of the Florida Retirement
54	System, or, if the retiree is deceased, his or her beneficiary
55	who is receiving a monthly benefit from such retiree's account
56	and who is a spouse, or a person who meets the definition of
57	joint annuitant in s. 121.021(28), shall receive a monthly
58	retiree health insurance subsidy payment equal to the number of
59	years of creditable service, as defined in s. 121.021(17),
60	completed at the time of retirement multiplied by $5; however,
61	no eligible retiree or beneficiary may receive a subsidy payment
62	of more than $150 or less than $30. If there are multiple
63	beneficiaries, the total payment may must not be greater than
64	the payment to which the retiree was entitled. The health
65	insurance subsidy amount payable to any person receiving the
66	retiree health insurance subsidy payment on July 1, 2001, may
67	shall not be reduced solely by operation of this subparagraph.
68	2.  Beginning July 1, 2002, each eligible participant of
69	the investment plan Public Employee Optional Retirement Program
70	of the Florida Retirement System who has met the requirements of
71	this section, or, if the participant is deceased, his or her
72	spouse who is the participant's designated beneficiary, shall
73	receive a monthly retiree health insurance subsidy payment equal
74	to the number of years of creditable service, as provided in
75	this subparagraph, completed at the time of retirement,
76	multiplied by $5; however, an no eligible retiree or beneficiary
77	may not receive a subsidy payment of more than $150 or less than
78	$30. For purposes of determining a participant's creditable
79	service used to calculate the health insurance subsidy, a
80	participant's years of service credit or fraction thereof shall
81	be based on the participant's work year as defined in s.
82	121.021(54). Credit must shall be awarded for a full work year
83	if whenever health insurance subsidy contributions have been
84	made as required by law for each month in the participant's work
85	year. In addition, all years of creditable service retained
86	under the Florida Retirement System Pension Plan must defined
87	benefit program shall be included as creditable service for
88	purposes of this section. Notwithstanding any other provision in
89	this section to the contrary, the spouse at the time of death is
90	shall be the participant's beneficiary unless such participant
91	has designated a different beneficiary subsequent to the
92	participant's most recent marriage.
93	Section 3.  Subsection (1) of section 112.65, Florida
94	Statutes, is amended to read:
95	112.65  Limitation of benefits.-
96	(1)  ESTABLISHMENT OF PROGRAM.-The normal retirement
97	benefit or pension payable to a retiree who becomes a member of
98	any retirement system or plan and who has not previously
99	participated in such plan, on or after January 1, 1980, may
100	shall not exceed 100 percent of his or her average final
101	compensation. However, nothing contained in this section does
102	not shall apply to supplemental retirement benefits or to
103	pension increases attributable to cost-of-living increases or
104	adjustments. For the purposes of this section, benefits accruing
105	in individual member participant accounts established under the
106	investment plan Public Employee Optional Retirement Program
107	established in part II of chapter 121 are considered
108	supplemental benefits. As used in this section, the term
109	"average final compensation" means the average of the member's
110	earnings over a period of time which the governmental entity has
111	established by statute, charter, or ordinance.
112	Section 4.  Subsections (3) and (15), paragraph (a) of
113	subsection (19), paragraph (b) of subsection (22), and
114	subsections (29), (38), (39), (55), and (59) of section 121.021,
115	Florida Statutes, are amended to read:
116	121.021  Definitions.-The following words and phrases as
117	used in this chapter have the respective meanings set forth
118	unless a different meaning is plainly required by the context:
119	(3)  "System" means the general retirement system
120	established by this chapter to be known and cited as the
121	"Florida Retirement System," including, but not limited to, the
122	defined benefit retirement program administered under the
123	provisions of part I of this part, referred to as the "Florida
124	Retirement System Pension Plan" or "pension plan" chapter and
125	the defined contribution retirement program known as the Public
126	Employee Optional Retirement Program and administered under the
127	provisions of part II of this chapter, referred to as the
128	"Florida Retirement System Investment Plan" or "investment
129	plan".
130	(15)  "Special risk member" or "Special Risk Class member"
131	means a member of the Florida Retirement System who meets the
132	eligibility and criteria in s. 121.0515 to participate in the
133	Special Risk Class.
134	(a)  Until October 1, 1978, "special risk member" means any
135	officer or employee whose application is approved by the
136	administrator and who receives salary payments for work
137	performed as a peace officer; law enforcement officer; police
138	officer; highway patrol officer; custodial employee at a
139	correctional or detention facility; correctional agency employee
140	whose duties and responsibilities involve direct contact with
141	inmates, but excluding secretarial and clerical employees;
142	firefighter; or an employee in any other job in the field of law
143	enforcement or fire protection if the duties of such person are
144	certified as hazardous by his or her employer.
145	(b)  Effective October 1, 1978, "special risk member" means
146	a member of the Florida Retirement System who is designated as a
147	special risk member by the division in accordance with s.
148	121.0515. Such member must be employed as a law enforcement
149	officer, a firefighter, or a correctional officer and must meet
150	certain other special criteria as set forth in s. 121.0515.
151	(c)  Effective October 1, 1999, "special risk member" means
152	a member of the Florida Retirement System who is designated as a
153	special risk member by the division in accordance with s.
154	121.0515. Such member must be employed as a law enforcement
155	officer, a firefighter, a correctional officer, an emergency
156	medical technician, or a paramedic and must meet certain other
157	special criteria as set forth in s. 121.0515.
158	(d)1.  Effective January 1, 2001, "special risk member"
159	includes any member who is employed as a community-based
160	correctional probation officer and meets the special criteria
161	set forth in s. 121.0515(2)(e).
162	2.  Effective January 1, 2001, "special risk member"
163	includes any professional health care bargaining unit or non-
164	unit member who is employed by the Department of Corrections or
165	the Department of Children and Family Services and meets the
166	special criteria set forth in s. 121.0515(2)(f).
167	(e)  Effective July 1, 2001, the term "special risk member"
168	includes any member who is employed as a youth custody officer
169	by the Department of Juvenile Justice and meets the special
170	criteria set forth in s. 121.0515(2)(g).
171	(f)  Effective August 1, 2008, "special risk member"
172	includes any member who meets the special criteria for continued
173	membership set forth in s. 121.0515(2)(k).
174	(19)  "Prior service" under part I of this chapter means:
175	(a)  Service for which the member had credit under one of
176	the existing systems and received a refund of his or her
177	contributions upon termination of employment. Prior service
178	shall also includes include that service between December 1,
179	1970, and the date the system becomes noncontributory for which
180	the member had credit under the Florida Retirement System and
181	received a refund of his or her contributions upon termination
182	of employment.
183	(22)  "Compensation" means the monthly salary paid a member
184	by his or her employer for work performed arising from that
185	employment.
186	(b)  Under no circumstances shall Compensation for a member
187	participating in the pension plan defined benefit retirement
188	program or the investment plan Public Employee Optional
189	Retirement Program of the Florida Retirement System may not
190	include:
191	1.  Fees paid professional persons for special or
192	particular services or include salary payments made from a
193	faculty practice plan authorized by the Board of Governors of
194	the State University System for eligible clinical faculty at a
195	college in a state university that has a faculty practice plan;
196	or
197	2.  Any bonuses or other payments prohibited from inclusion
198	in the member's average final compensation and defined in
199	subsection (47).
200	(29)  "Normal retirement date" means the date a member
201	attains normal retirement age and is vested, which is determined
202	as follows:
203	(a)1.  If a Regular Class member, a Senior Management
204	Service Class member, or an Elected Officers' Class member
205	initially enrolled before July 1, 2011:
206	a.1.  The first day of the month the member completes 6 or
207	more years of creditable service and attains age 62; or
208	b.2.  The first day of the month following the date the
209	member completes 30 years of creditable service, regardless of
210	age.
211	2.  If a Regular Class member, a Senior Management Service
212	Class member, or an Elected Officers' Class member initially
213	enrolled on or after July 1, 2011:
214	a.  The first day of the month the member completes 6 or
215	more years of creditable service and attains age 65; or
216	b.  The first day of the month following the date the
217	member completes 33 years of creditable service, regardless of
218	age.
219	(b)1.  If a Special Risk Class member initially enrolled
220	before July 1, 2011:
221	a.1.  The first day of the month the member completes 6 or
222	more years of creditable service in the Special Risk Class and
223	attains age 55;
224	b.2.  The first day of the month following the date the
225	member completes 25 years of creditable service in the Special
226	Risk Class, regardless of age; or
227	c.3.  The first day of the month following the date the
228	member completes 25 years of creditable service and attains age
229	52, which service may include a maximum of 4 years of military
230	service credit as long as such credit is not claimed under any
231	other system and the remaining years are in the Special Risk
232	Class.
233	2.  If a Special Risk Class member initially enrolled on or
234	after July 1, 2011:
235	a.  The first day of the month the member completes 6 or
236	more years of creditable service in the Special Risk Class and
237	attains age 60;
238	b.  The first day of the month following the date the
239	member completes 30 years of creditable service in the Special
240	Risk Class, regardless of age; or
241	c.  The first day of the month following the date the
242	member completes 30 years of creditable service and attains age
243	57, which service may include a maximum of 4 years of military
244	service credit as long as such credit is not claimed under any
245	other system and the remaining years are in the Special Risk
246	Class.
247
248	"Normal retirement age" is attained on the "normal retirement
249	date."
250	(38)  "Continuous service" means creditable service as a
251	member, beginning with the first day of employment with an
252	employer covered under a state-administered retirement system
253	consolidated herein and continuing for as long as the member
254	remains in an employer-employee relationship with an employer
255	covered under this chapter. An absence of 1 calendar month or
256	more from an employer's payroll shall be considered a break in
257	continuous service, except for periods of absence during which
258	an employer-employee relationship continues to exist and such
259	period of absence is creditable under this chapter or under one
260	of the existing systems consolidated herein. However, a law
261	enforcement officer as defined in s. 121.0515(3)(2)(a) who was a
262	member of a state-administered retirement system under chapter
263	122 or chapter 321 and who resigned and was subsequently
264	reemployed in a law enforcement position within 12 calendar
265	months of such resignation by an employer under such state-
266	administered retirement system shall be deemed to have not
267	experienced a break in service. Further, with respect to a
268	state-employed law enforcement officer who meets the criteria
269	specified in s. 121.0515(3)(2)(a), if the absence from the
270	employer's payroll is the result of a "layoff" as defined in s.
271	110.107 or a resignation to run for an elected office that meets
272	the criteria specified in s. 121.0515(3)(2)(a), no break in
273	continuous service shall be deemed to have occurred if the
274	member is reemployed as a state law enforcement officer or is
275	elected to an office which meets the criteria specified in s.
276	121.0515(3)(2)(a) within 12 calendar months after the date of
277	the layoff or resignation, notwithstanding the fact that such
278	period of layoff or resignation is not creditable service under
279	this chapter. A withdrawal of contributions will constitute a
280	break in service. Continuous service also includes past service
281	purchased under this chapter, provided such service is
282	continuous within this definition and the rules established by
283	the administrator. The administrator may establish
284	administrative rules and procedures for applying this definition
285	to creditable service authorized under this chapter. Any
286	correctional officer, as defined in s. 943.10, whose
287	participation in the state-administered retirement system is
288	terminated due to the transfer of a county detention facility
289	through a contractual agreement with a private entity pursuant
290	to s. 951.062, shall be deemed an employee with continuous
291	service in the Special Risk Class, provided return to employment
292	with the former employer takes place within 3 years due to
293	contract termination or the officer is employed by a covered
294	employer in a special risk position within 1 year after his or
295	her initial termination of employment by such transfer of its
296	detention facilities to the private entity.
297	(39)(a)  "Termination" occurs, except as provided in
298	paragraph (b), when a member ceases all employment relationships
299	with participating employers an employer, however:
300	1.  For retirements effective before July 1, 2010, if a
301	member is employed by any such employer within the next calendar
302	month, termination shall be deemed not to have occurred. A leave
303	of absence constitutes a continuation of the employment
304	relationship, except that a leave of absence without pay due to
305	disability may constitute termination if such member makes
306	application for and is approved for disability retirement in
307	accordance with s. 121.091(4). The department or state board may
308	require other evidence of termination as it deems necessary.
309	2.  For retirements effective on or after July 1, 2010, if
310	a member is employed by any such employer within the next 6
311	calendar months, termination shall be deemed not to have
312	occurred. A leave of absence constitutes a continuation of the
313	employment relationship, except that a leave of absence without
314	pay due to disability may constitute termination if such member
315	makes application for and is approved for disability retirement
316	in accordance with s. 121.091(4). The department or state board
317	may require other evidence of termination as it deems necessary.
318	(b)  "Termination" for a member electing to participate in
319	the Deferred Retirement Option Program occurs when the program
320	participant ceases all employment relationships with
321	participating employers an employer in accordance with s.
322	121.091(13), however:
323	1.  For termination dates occurring before July 1, 2010, if
324	the member participant is employed by any such employer within
325	the next calendar month, termination will be deemed not to have
326	occurred, except as provided in s. 121.091(13)(b)4.c. A leave of
327	absence shall constitute a continuation of the employment
328	relationship.
329	2.  For termination dates occurring on or after July 1,
330	2010, if the member participant becomes employed by any such
331	employer within the next 6 calendar months, termination will be
332	deemed not to have occurred, except as provided in s.
333	121.091(13)(b)4.c. A leave of absence constitutes a continuation
334	of the employment relationship.
335	(c)  Effective July 1, 2011, "termination" for a member
336	receiving a refund of employee contributions occurs when a
337	member ceases all employment relationships with participating
338	employers for 3 calendar months. A leave of absence constitutes
339	a continuation of the employment relationship.
340	(55)  "Benefit" means any pension payment, lump-sum or
341	periodic, to a member, retiree, or beneficiary, based partially
342	or entirely on employer contributions or employee contributions,
343	if applicable.
344	(59)  "Payee" means a retiree or beneficiary of a retiree
345	who has received or is receiving a retirement benefit payment.
346	Section 5.  Paragraphs (b) and (c) of subsection (2) and
347	subsection (3) of section 121.051, Florida Statutes, are amended
348	to read:
349	121.051  Participation in the system.-
350	(2)  OPTIONAL PARTICIPATION.-
351	(b)1.  The governing body of any municipality, metropolitan
352	planning organization, or special district in the state may
353	elect to participate in the system upon proper application to
354	the administrator and may cover all or any of its units as
355	approved by the Secretary of Health and Human Services and the
356	administrator. The department shall adopt rules establishing
357	procedures provisions for the submission of documents necessary
358	for such application. Prior to being approved for participation
359	in the Florida Retirement System, the governing body of a any
360	such municipality, metropolitan planning organization, or
361	special district that has a local retirement system must shall
362	submit to the administrator a certified financial statement
363	showing the condition of the local retirement system as of a
364	date within 3 months prior to the proposed effective date of
365	membership in the Florida Retirement System. The statement must
366	be certified by a recognized accounting firm that is independent
367	of the local retirement system. All required documents necessary
368	for extending Florida Retirement System coverage must be
369	received by the department for consideration at least 15 days
370	prior to the proposed effective date of coverage. If the
371	municipality, metropolitan planning organization, or special
372	district does not comply with this requirement, the department
373	may require that the effective date of coverage be changed.
374	2.  Any city, metropolitan planning organization, or
375	special district that has an existing retirement system covering
376	the employees in the units that are to be brought under the
377	Florida Retirement System may participate only after holding a
378	referendum in which all employees in the affected units have the
379	right to participate. Only those employees electing coverage
380	under the Florida Retirement System by affirmative vote in said
381	referendum shall be eligible for coverage under this chapter,
382	and those not participating or electing not to be covered by the
383	Florida Retirement System shall remain in their present systems
384	and shall not be eligible for coverage under this chapter. After
385	the referendum is held, all future employees shall be compulsory
386	members of the Florida Retirement System.
387	3.  At the time of joining the Florida Retirement System,
388	the governing body of any city, metropolitan planning
389	organization, or special district complying with subparagraph 1.
390	may elect to provide, or not provide, benefits based on past
391	service of officers and employees as described in s. 121.081(1).
392	However, if such employer elects to provide past service
393	benefits, such benefits must be provided for all officers and
394	employees of its covered group.
395	4.  Once this election is made and approved it may not be
396	revoked, except pursuant to subparagraphs 5. and 6., and all
397	present officers and employees electing coverage under this
398	chapter and all future officers and employees shall be
399	compulsory members of the Florida Retirement System.
400	5.  Subject to the conditions set forth in subparagraph 6.,
401	the governing body of a any hospital licensed under chapter 395
402	which is governed by the board of a special district as defined
403	in s. 189.403(1) or by the board of trustees of a public health
404	trust created under s. 154.07, hereinafter referred to as
405	"hospital district," and which participates in the system, may
406	elect to cease participation in the system with regard to future
407	employees in accordance with the following procedure:
408	a.  No more than 30 days and at least 7 days before
409	adopting a resolution to partially withdraw from the Florida
410	Retirement System and establish an alternative retirement plan
411	for future employees, a public hearing must be held on the
412	proposed withdrawal and proposed alternative plan.
413	b.  From 7 to 15 days before such hearing, notice of intent
414	to withdraw, specifying the time and place of the hearing, must
415	be provided in writing to employees of the hospital district
416	proposing partial withdrawal and must be published in a
417	newspaper of general circulation in the area affected, as
418	provided by ss. 50.011-50.031. Proof of publication of such
419	notice shall be submitted to the Department of Management
420	Services.
421	c.  The governing body of a any hospital district seeking
422	to partially withdraw from the system must, before such hearing,
423	have an actuarial report prepared and certified by an enrolled
424	actuary, as defined in s. 112.625(3), illustrating the cost to
425	the hospital district of providing, through the retirement plan
426	that the hospital district is to adopt, benefits for new
427	employees comparable to those provided under the Florida
428	Retirement System.
429	d.  Upon meeting all applicable requirements of this
430	subparagraph, and subject to the conditions set forth in
431	subparagraph 6., partial withdrawal from the system and adoption
432	of the alternative retirement plan may be accomplished by
433	resolution duly adopted by the hospital district board. The
434	hospital district board must provide written notice of such
435	withdrawal to the division by mailing a copy of the resolution
436	to the division, postmarked by no later than December 15, 1995.
437	The withdrawal shall take effect January 1, 1996.
438	6.  Following the adoption of a resolution under sub-
439	subparagraph 5.d., all employees of the withdrawing hospital
440	district who were participants in the Florida Retirement System
441	before prior to January 1, 1996, shall remain as participants in
442	the system for as long as they are employees of the hospital
443	district, and all rights, duties, and obligations between the
444	hospital district, the system, and the employees shall remain in
445	full force and effect. Any employee who is hired or appointed on
446	or after January 1, 1996, may not participate in the Florida
447	Retirement System, and the withdrawing hospital district shall
448	have no obligation to the system with respect to such employees.
449	(c)  Employees of public community colleges or charter
450	technical career centers sponsored by public community colleges,
451	designated in s. 1000.21(3), who are members of the Regular
452	Class of the Florida Retirement System and who comply with the
453	criteria set forth in this paragraph and s. 1012.875 may, in
454	lieu of participating in the Florida Retirement System, elect to
455	withdraw from the system altogether and participate in the State
456	Community College System Optional Retirement Program provided by
457	the employing agency under s. 1012.875.
458	1.  Through June 30, 2001, the cost to the employer for
459	benefits under the optional retirement program such annuity
460	equals the normal cost portion of the employer retirement
461	contribution which would be required if the employee were a
462	member of the pension plan's Regular Class defined benefit
463	program, plus the portion of the contribution rate required by
464	s. 112.363(8) which would otherwise be assigned to the Retiree
465	Health Insurance Subsidy Trust Fund. Effective July 1, 2001,
466	each employer shall contribute on behalf of each participant in
467	the optional program an amount equal to 10.43 percent of the
468	participant's gross monthly compensation. The employer shall
469	deduct an amount for the administration of the program. The
470	employer shall contribute an additional amount to the Florida
471	Retirement System Trust Fund equal to the unfunded actuarial
472	accrued liability portion of the Regular Class contribution
473	rate.
474	2.  The decision to participate in the an optional
475	retirement program is irrevocable as long as the employee holds
476	a position eligible for participation, except as provided in
477	subparagraph 3. Any service creditable under the Florida
478	Retirement System is retained after the member withdraws from
479	the system; however, additional service credit in the system may
480	not be earned while a member of the optional retirement program.
481	3.  An employee who has elected to participate in the
482	optional retirement program shall have one opportunity, at the
483	employee's discretion, to transfer from the optional retirement
484	program to the pension plan defined benefit program of the
485	Florida Retirement System or to the investment plan established
486	under part II of this chapter Public Employee Optional
487	Retirement Program, subject to the terms of the applicable
488	optional retirement program contracts.
489	a.  If the employee chooses to move to the investment plan
490	Public Employee Optional Retirement Program, any contributions,
491	interest, and earnings creditable to the employee under the
492	State Community College System optional retirement program are
493	retained by the employee in the State Community College System
494	optional retirement program, and the applicable provisions of s.
495	121.4501(4) govern the election.
496	b.  If the employee chooses to move to the pension plan
497	defined benefit program of the Florida Retirement System, the
498	employee shall receive service credit equal to his or her years
499	of service under the State Community College System optional
500	retirement program.
501	(I)  The cost for such credit is the amount representing
502	the present value of the employee's accumulated benefit
503	obligation for the affected period of service. The cost shall be
504	calculated as if the benefit commencement occurs on the first
505	date the employee becomes eligible for unreduced benefits, using
506	the discount rate and other relevant actuarial assumptions that
507	were used to value the Florida Retirement System pension defined
508	benefit plan liabilities in the most recent actuarial valuation.
509	The calculation must include any service already maintained
510	under the pension defined benefit plan in addition to the years
511	under the State Community College System optional retirement
512	program. The present value of any service already maintained
513	must be applied as a credit to total cost resulting from the
514	calculation. The division shall ensure that the transfer sum is
515	prepared using a formula and methodology certified by an
516	enrolled actuary.
517	(II)  The employee must transfer from his or her State
518	Community College System optional retirement program account and
519	from other employee moneys as necessary, a sum representing the
520	present value of the employee's accumulated benefit obligation
521	immediately following the time of such movement, determined
522	assuming that attained service equals the sum of service in the
523	pension plan defined benefit program and service in the State
524	Community College System optional retirement program.
525	4.  Participation in the optional retirement program is
526	limited to employees who satisfy the following eligibility
527	criteria:
528	a.  The employee is must be otherwise eligible for
529	membership or renewed membership in the Regular Class of the
530	Florida Retirement System, as provided in s. 121.021(11) and
531	(12) or s. 121.122.
532	b.  The employee is must be employed in a full-time
533	position classified in the Accounting Manual for Florida's
534	Public Community Colleges as:
535	(I)  Instructional; or
536	(II)  Executive Management, Instructional Management, or
537	Institutional Management and the, if a community college
538	determines that recruiting to fill a vacancy in the position is
539	to be conducted in the national or regional market, and the
540	duties and responsibilities of the position include the
541	formulation, interpretation, or implementation of policies, or
542	the performance of functions that are unique or specialized
543	within higher education and that frequently support the mission
544	of the community college.
545	c.  The employee is must be employed in a position not
546	included in the Senior Management Service Class of the Florida
547	Retirement System, as described in s. 121.055.
548	5.  Participants in the program are subject to the same
549	reemployment limitations, renewed membership provisions, and
550	forfeiture provisions as are applicable to regular members of
551	the Florida Retirement System under ss. 121.091(9), 121.122, and
552	121.091(5), respectively. A participant who receives a program
553	distribution funded by employer contributions shall be deemed to
554	be retired from a state-administered retirement system if the
555	participant is subsequently employed with an employer that
556	participates in the Florida Retirement System.
557	6.  Eligible community college employees are compulsory
558	members of the Florida Retirement System until, pursuant to s.
559	1012.875, a written election to withdraw from the system and
560	participate in the State Community College System optional
561	retirement program is filed with the program administrator and
562	received by the division.
563	a.  A community college employee whose program eligibility
564	results from initial employment shall must be enrolled in the
565	State Community College System optional retirement program
566	retroactive to the first day of eligible employment. The
567	employer retirement contributions paid through the month of the
568	employee plan change shall be transferred to the community
569	college to the employee's optional program account, and,
570	effective the first day of the next month, the employer shall
571	pay the applicable contributions based upon subparagraph 1.
572	b.  A community college employee whose program eligibility
573	is due to the subsequent designation of the employee's position
574	as one of those specified in subparagraph 4., or due to the
575	employee's appointment, promotion, transfer, or reclassification
576	to a position specified in subparagraph 4., must be enrolled in
577	the program on the first day of the first full calendar month
578	that such change in status becomes effective. The employer
579	retirement contributions paid from the effective date through
580	the month of the employee plan change must be transferred to the
581	community college to the employee's optional program account,
582	and, effective the first day of the next month, the employer
583	shall pay the applicable contributions based upon subparagraph
584	1.
585	7.  Effective July 1, 2003, through December 31, 2008, any
586	participant in of the State Community College System optional
587	retirement program who has service credit in the pension defined
588	benefit plan of the Florida Retirement System for the period
589	between his or her first eligibility to transfer from the
590	pension defined benefit plan to the optional retirement program
591	and the actual date of transfer may, during employment, transfer
592	to the optional retirement program a sum representing the
593	present value of the accumulated benefit obligation under the
594	defined benefit retirement program for the period of service
595	credit. Upon transfer, all service credit previously earned
596	under the pension plan defined benefit program of the Florida
597	Retirement System during this period is nullified for purposes
598	of entitlement to a future benefit under the pension plan
599	defined benefit program of the Florida Retirement System.
600	(3)  SOCIAL SECURITY COVERAGE.-Social security coverage
601	shall be provided for all officers and employees who become
602	members under the provisions of subsection (1) or subsection
603	(2). Any modification of the present agreement with the Social
604	Security Administration, or referendum required under the Social
605	Security Act, for the purpose of providing social security
606	coverage for any member shall be requested by the state agency
607	in compliance with the applicable provisions of the Social
608	Security Act governing such coverage. However, retroactive
609	social security coverage for service prior to December 1, 1970,
610	with the employer shall not be provided for a any member who was
611	not covered under the agreement as of November 30, 1970. The
612	employer-paid employee contributions specified in s. 121.71(2)
613	are subject to taxes imposed under the Federal Insurance
614	Contributions Act, 26 U.S.C. ss. 3101-3128.
615	Section 6.  Section 121.0515, Florida Statutes, is amended
616	to read:
617	121.0515  Special Risk Class membership.-
618	(1)  ESTABLISHMENT OF CLASS LEGISLATIVE INTENT.-There is
619	established a separate In creating the Special Risk class of
620	membership within the Florida Retirement System, to be known as
621	the "Special Risk Class," it is the intent and purpose of the
622	Legislature to recognize that persons employed in certain
623	categories of law enforcement, firefighting, criminal detention,
624	and emergency medical care positions are required as one of the
625	essential functions of their positions to perform work that is
626	physically demanding or arduous, or work that requires
627	extraordinary agility and mental acuity, and that such persons,
628	because of diminishing physical and mental faculties, may find
629	that they are not able, without risk to the health and safety of
630	themselves, the public, or their coworkers, to continue
631	performing such duties and thus enjoy the full career and
632	retirement benefits enjoyed by persons employed in other
633	membership classes positions and that, if they find it
634	necessary, due to the physical and mental limitations of their
635	age, to retire at an earlier age and usually with less service,
636	they will suffer an economic deprivation therefrom. To address
637	Therefore, as a means of recognizing the peculiar and special
638	problems of this class of employees, it is the intent and
639	purpose of the Legislature to establish a class of retirement
640	membership is established that awards more retirement credit per
641	year of service than that awarded to other employees; however,
642	nothing contained herein shall require ineligibility for Special
643	Risk Class membership upon reaching age 55.
644	(2)  MEMBERSHIP.-
645	(a)  Until October 1, 1978, "special risk member" means any
646	officer or employee whose application is approved by the
647	administrator and who receives salary payments for work
648	performed as a peace officer; law enforcement officer; police
649	officer; highway patrol officer; custodial employee at a
650	correctional or detention facility; correctional agency employee
651	whose duties and responsibilities involve direct contact with
652	inmates, but excluding secretarial and clerical employees;
653	firefighter; or an employee in any other job in the field of law
654	enforcement or fire protection if the duties of such person are
655	certified as hazardous by his or her employer.
656	(b)  Effective October 1, 1978, through September 30, 1999,
657	"special risk member" means a member of the Florida Retirement
658	System who is designated as a special risk member by the
659	division in accordance with this section. Such member must be
660	employed as a law enforcement officer, a firefighter, or a
661	correctional officer and must meet certain other special
662	criteria as set forth in this section.
663	(c)  Effective October 1, 1999, "special risk member" means
664	a member of the Florida Retirement System who is designated as a
665	special risk member by the division in accordance with this
666	section. Such member must be employed as a law enforcement
667	officer, a firefighter, a correctional officer, an emergency
668	medical technician, or a paramedic and must meet certain other
669	special criteria as set forth in this section.
670	(d)1.  Effective January 1, 2001, "special risk member"
671	includes any member who is employed as a community-based
672	correctional probation officer and meets the special criteria
673	set forth in paragraph (3)(e).
674	2.  Effective January 1, 2001, "special risk member"
675	includes any professional health care bargaining unit or non-
676	unit member who is employed by the Department of Corrections or
677	the Department of Children and Family Services and meets the
678	special criteria set forth in paragraph (3)(f).
679	(e)  Effective July 1, 2001, the term "special risk member"
680	includes any member who is employed as a youth custody officer
681	by the Department of Juvenile Justice and meets the special
682	criteria set forth in paragraph (3)(g).
683	(f)  Effective August 1, 2008, "special risk member"
684	includes any member who meets the special criteria for continued
685	membership set forth in paragraph (3)(k).
686	(3)(2)  CRITERIA.-A member, to be designated as a special
687	risk member, must meet the following criteria:
688	(a)  Effective October 1, 1978, the member must be employed
689	as a law enforcement officer and be certified, or required to be
690	certified, in compliance with s. 943.1395; however, sheriffs and
691	elected police chiefs shall be excluded from meeting the
692	certification requirements of this paragraph. In addition, the
693	member's duties and responsibilities must include the pursuit,
694	apprehension, and arrest of law violators or suspected law
695	violators; or as of July 1, 1982, the member must be an active
696	member of a bomb disposal unit whose primary responsibility is
697	the location, handling, and disposal of explosive devices; or
698	the member must be the supervisor or command officer of a member
699	or members who have such responsibilities; provided, however,
700	administrative support personnel, including, but not limited to,
701	those whose primary duties and responsibilities are in
702	accounting, purchasing, legal, and personnel, shall not be
703	included;
704	(b)  Effective October 1, 1978, the member must be employed
705	as a firefighter and be certified, or required to be certified,
706	in compliance with s. 633.35 and be employed solely within the
707	fire department of a local government employer or an agency of
708	state government with firefighting responsibilities. In
709	addition, the member's duties and responsibilities must include
710	on-the-scene fighting of fires; as of October 1, 2001, fire
711	prevention, or firefighter training; as of October 1, 2001,
712	direct supervision of firefighting units, fire prevention, or
713	firefighter training; or as of July 1, 2001, aerial firefighting
714	surveillance performed by fixed-wing aircraft pilots employed by
715	the Division of Forestry of the Department of Agriculture and
716	Consumer Services; or the member must be the supervisor or
717	command officer of a member or members who have such
718	responsibilities; provided, however, administrative support
719	personnel, including, but not limited to, those whose primary
720	duties and responsibilities are in accounting, purchasing,
721	legal, and personnel, shall not be included and further provided
722	that all periods of creditable service in fire prevention or
723	firefighter training, or as the supervisor or command officer of
724	a member or members who have such responsibilities, and for
725	which the employer paid the special risk contribution rate,
726	shall be included;
727	(c)  Effective October 1, 1978, the member must be employed
728	as a correctional officer and be certified, or required to be
729	certified, in compliance with s. 943.1395. In addition, the
730	member's primary duties and responsibilities must be the
731	custody, and physical restraint when necessary, of prisoners or
732	inmates within a prison, jail, or other criminal detention
733	facility, or while on work detail outside the facility, or while
734	being transported; or as of July 1, 1984, the member must be the
735	supervisor or command officer of a member or members who have
736	such responsibilities; provided, however, administrative support
737	personnel, including, but not limited to, those whose primary
738	duties and responsibilities are in accounting, purchasing,
739	legal, and personnel, shall not be included; however, wardens
740	and assistant wardens, as defined by rule, shall participate in
741	the Special Risk Class;
742	(d)  Effective October 1, 1999, the member must be employed
743	by a licensed Advance Life Support (ALS) or Basic Life Support
744	(BLS) employer as an emergency medical technician or a paramedic
745	and be certified in compliance with s. 401.27. In addition, the
746	member's primary duties and responsibilities must include on-
747	the-scene emergency medical care or as of October 1, 2001,
748	direct supervision of emergency medical technicians or
749	paramedics, or the member must be the supervisor or command
750	officer of one or more members who have such responsibility.
751	However, administrative support personnel, including, but not
752	limited to, those whose primary responsibilities are in
753	accounting, purchasing, legal, and personnel, shall not be
754	included;
755	(e)  Effective January 1, 2001, the member must be employed
756	as a community-based correctional probation officer and be
757	certified, or required to be certified, in compliance with s.
758	943.1395. In addition, the member's primary duties and
759	responsibilities must be the supervised custody, surveillance,
760	control, investigation, and counseling of assigned inmates,
761	probationers, parolees, or community controllees within the
762	community; or the member must be the supervisor of a member or
763	members who have such responsibilities. Administrative support
764	personnel, including, but not limited to, those whose primary
765	duties and responsibilities are in accounting, purchasing, legal
766	services, and personnel management, shall not be included;
767	however, probation and parole circuit and deputy circuit
768	administrators shall participate in the Special Risk Class;
769	(f)  Effective January 1, 2001, the member must be employed
770	in one of the following classes and must spend at least 75
771	percent of his or her time performing duties which involve
772	contact with patients or inmates in a correctional or forensic
773	facility or institution:
774	1.  Dietitian (class codes 5203 and 5204);
775	2.  Public health nutrition consultant (class code 5224);
776	3.  Psychological specialist (class codes 5230 and 5231);
777	4.  Psychologist (class code 5234);
778	5.  Senior psychologist (class codes 5237 and 5238);
779	6.  Regional mental health consultant (class code 5240);
780	7.  Psychological Services Director-DCF (class code 5242);
781	8.  Pharmacist (class codes 5245 and 5246);
782	9.  Senior pharmacist (class codes 5248 and 5249);
783	10.  Dentist (class code 5266);
784	11.  Senior dentist (class code 5269);
785	12.  Registered nurse (class codes 5290 and 5291);
786	13.  Senior registered nurse (class codes 5292 and 5293);
787	14.  Registered nurse specialist (class codes 5294 and
788	5295);
789	15.  Clinical associate (class codes 5298 and 5299);
790	16.  Advanced registered nurse practitioner (class codes
791	5297 and 5300);
792	17.  Advanced registered nurse practitioner specialist
793	(class codes 5304 and 5305);
794	18.  Registered nurse supervisor (class codes 5306 and
795	5307);
796	19.  Senior registered nurse supervisor (class codes 5308
797	and 5309);
798	20.  Registered nursing consultant (class codes 5312 and
799	5313);
800	21.  Quality management program supervisor (class code
801	5314);
802	22.  Executive nursing director (class codes 5320 and
803	5321);
804	23.  Speech and hearing therapist (class code 5406); or
805	24.  Pharmacy manager (class code 5251);
806	(g)  Effective July 1, 2001, the member must be employed as
807	a youth custody officer and be certified, or required to be
808	certified, in compliance with s. 943.1395. In addition, the
809	member's primary duties and responsibilities must be the
810	supervised custody, surveillance, control, investigation,
811	apprehension, arrest, and counseling of assigned juveniles
812	within the community;
813	(h)  Effective October 1, 2005, through June 30, 2008, the
814	member must be employed by a law enforcement agency or medical
815	examiner's office in a forensic discipline recognized by the
816	International Association for Identification and must qualify
817	for active membership in the International Association for
818	Identification. The member's primary duties and responsibilities
819	must include the collection, examination, preservation,
820	documentation, preparation, or analysis of physical evidence or
821	testimony, or both, or the member must be the direct supervisor,
822	quality management supervisor, or command officer of one or more
823	individuals with such responsibility. Administrative support
824	personnel, including, but not limited to, those whose primary
825	responsibilities are clerical or in accounting, purchasing,
826	legal, and personnel, shall not be included;
827	(i)  Effective July 1, 2008, the member must be employed by
828	the Department of Law Enforcement in the crime laboratory or by
829	the Division of State Fire Marshal in the forensic laboratory in
830	one of the following classes:
831	1.  Forensic technologist (class code 8459);
832	2.  Crime laboratory technician (class code 8461);
833	3.  Crime laboratory analyst (class code 8463);
834	4.  Senior crime laboratory analyst (class code 8464);
835	5.  Crime laboratory analyst supervisor (class code 8466);
836	6.  Forensic chief (class code 9602); or
837	7.  Forensic services quality manager (class code 9603);
838	(j)  Effective July 1, 2008, the member must be employed by
839	a local government law enforcement agency or medical examiner's
840	office and must spend at least 65 percent of his or her time
841	performing duties that involve the collection, examination,
842	preservation, documentation, preparation, or analysis of human
843	tissues or fluids or physical evidence having potential
844	biological, chemical, or radiological hazard or contamination,
845	or use chemicals, processes, or materials that may have
846	carcinogenic or health-damaging properties in the analysis of
847	such evidence, or the member must be the direct supervisor of
848	one or more individuals having such responsibility. If a special
849	risk member changes to another position within the same agency,
850	he or she must submit a complete application as provided in
851	paragraph (4)(3)(a); or
852	(k)  The member must have already qualified for and be
853	actively participating in special risk membership under
854	paragraph (a), paragraph (b), or paragraph (c), must have
855	suffered a qualifying injury as defined in this paragraph, must
856	not be receiving disability retirement benefits as provided in
857	s. 121.091(4), and must satisfy the requirements of this
858	paragraph.
859	1.  The ability to qualify for the class of membership
860	defined in paragraph (2)(f) s. 121.021(15)(f) shall occur when
861	two licensed medical physicians, one of whom is a primary
862	treating physician of the member, certify the existence of the
863	physical injury and medical condition that constitute a
864	qualifying injury as defined in this paragraph and that the
865	member has reached maximum medical improvement after August 1,
866	2008. The certifications from the licensed medical physicians
867	must include, at a minimum, that the injury to the special risk
868	member has resulted in a physical loss, or loss of use, of at
869	least two of the following: left arm, right arm, left leg, or
870	right leg; and:
871	a.  That this physical loss or loss of use is total and
872	permanent, except in the event that the loss of use is due to a
873	physical injury to the member's brain, in which event the loss
874	of use is permanent with at least 75-percent loss of motor
875	function with respect to each arm or leg affected.
876	b.  That this physical loss or loss of use renders the
877	member physically unable to perform the essential job functions
878	of his or her special risk position.
879	c.  That, notwithstanding this physical loss or loss of
880	use, the individual is able to perform the essential job
881	functions required by the member's new position, as provided in
882	subparagraph 3.
883	d.  That use of artificial limbs is either not possible or
884	does not alter the member's ability to perform the essential job
885	functions of the member's position.
886	e.  That the physical loss or loss of use is a direct
887	result of a physical injury and not a result of any mental,
888	psychological, or emotional injury.
889	2.  For the purposes of this paragraph, "qualifying injury"
890	means an injury sustained in the line of duty, as certified by
891	the member's employing agency, by a special risk member that
892	does not result in total and permanent disability as defined in
893	s. 121.091(4)(b). An injury is a qualifying injury when the
894	injury is a physical injury to the member's physical body
895	resulting in a physical loss, or loss of use, of at least two of
896	the following: left arm, right arm, left leg, or right leg.
897	Notwithstanding anything in this section to the contrary, an
898	injury that would otherwise qualify as a qualifying injury shall
899	not be considered a qualifying injury if and when the member
900	ceases employment with the employer for whom he or she was
901	providing special risk services on the date the injury occurred.
902	3.  The new position, as described in sub-subparagraph
903	1.c., that is required for qualification as a special risk
904	member under this paragraph is not required to be a position
905	with essential job functions that entitle an individual to
906	special risk membership. Whether a new position as described in
907	sub-subparagraph 1.c. exists and is available to the special
908	risk member is a decision to be made solely by the employer in
909	accordance with its hiring practices and applicable law.
910	4.  This paragraph does not grant or create additional
911	rights for any individual to continued employment or to be hired
912	or rehired by his or her employer that are not already provided
913	within the Florida Statutes, the State Constitution, the
914	Americans with Disabilities Act, if applicable, or any other
915	applicable state or federal law.
916	(4)(3)  PROCEDURE FOR DESIGNATING.-
917	(a)1.  Any Regular Class member of the Florida Retirement
918	System employed by a county, city, or special district who feels
919	that his or her position he or she meets the criteria set forth
920	in this section for membership in the Special Risk Class may
921	request that his or her employer submit an application to the
922	department requesting that the department designate him or her
923	as a Special Risk Class member. Such Regular Class member shall
924	complete the appropriate portions of an Application for Special
925	Risk Membership provided in Form FRS-400 or Form FRS-405. If the
926	employer agrees that the member meets the requirements for
927	Special Risk Class membership, the employer shall certify and
928	submit an application as set forth in this section and submit a
929	copy of the current official job description of the member's
930	duties showing the percentage of time spent performing each duty
931	and a copy of a personnel action form showing the effective date
932	of membership in that position to the department on in behalf of
933	the employee containing a certification that the member meets
934	the criteria for special risk membership set forth in this
935	section and such other supporting documentation as may be
936	required by administrative rule. The department shall, within 90
937	days, either designate or refuse to designate the member as a
938	special risk member.
939	2.  Upon receipt of the completed application, proof of
940	certification, and supporting documentation, the department
941	shall determine if the member meets the requirements for Special
942	Risk Class membership. If the requirements are met, the
943	department shall approve the member for Special Risk Class
944	membership. The employer shall certify to the department any
945	changes to the duties and responsibilities of a Special Risk
946	Class member. The department shall review the documentation for
947	changes to duties and responsibilities and either continue the
948	approval of Special Risk Class membership or reclassify the
949	member to Regular Class membership.
950	3.  If the employer refuses to certify the member's
951	application for Special Risk Class membership, the employer
952	shall notify the member of the employer's refusal to certify and
953	the reasons for the refusal. If the employer declines to submit
954	the member's application to the department, or if the department
955	does not designate the member to the as a Special Risk Class, or
956	the department removes the member from the Special Risk Class
957	member, the member or the employer may appeal to the State
958	Retirement Commission, as provided in s. 121.23, for designation
959	as a Special Risk Class member. A member who receives a final
960	affirmative ruling pursuant to such appeal for Special Risk
961	Class membership shall have Special Risk Class membership
962	retroactive to the date such member would have had Special Risk
963	Class membership had such membership been approved by the
964	employer and the department, as determined by the department,
965	and the employer contributions shall be paid in full within 1
966	year after such final ruling.
967	(b)1.  Applying the criteria set forth in this section, the
968	Department of Management Services shall specify which current
969	and newly created classes of positions under the uniform
970	classification plan established pursuant to chapter 110 entitle
971	the incumbents of positions in those classes to membership in
972	the Special Risk Class. Only employees employed in the classes
973	so specified shall be special risk members.
974	2.  When a class is not specified by the department as
975	provided in subparagraph 1., the employing agency may petition
976	the State Retirement Commission for approval in accordance with
977	s. 121.23.
978	(5)(4)  REMOVAL OF SPECIAL RISK CLASS MEMBERSHIP.-
979	(a)  Any member who is a special risk member on October 1,
980	1978, and who fails to meet the criteria for special risk
981	membership established by this section shall have his or her
982	special risk designation removed and thereafter shall be a
983	regular member and shall earn only regular membership credit.
984	The department shall have the authority to review the special
985	risk designation of members to determine whether or not those
986	members continue to meet the criteria for special risk
987	membership.
988	(b)  Any member who is a special risk member on July 1,
989	2008, and who became eligible to participate under paragraph
990	(3)(2)(h) but fails to meet the criteria for special risk
991	membership established by paragraph (3)(2)(i) or paragraph
992	(3)(2)(j) shall have his or her special risk designation removed
993	and thereafter shall be a Regular Class member and earn only
994	Regular Class membership credit. The department may review the
995	special risk designation of members to determine whether or not
996	those members continue to meet the criteria for special risk
997	membership.
998	(c)  Any member who is a Special Risk Class member and who
999	fails to meet the criteria for the Special Risk Class shall have
1000	his or her special risk class designation removed and thereafter
1001	shall be a Regular Class member and earn only Regular Class
1002	membership service credit. The department may review the Special
1003	Risk Class designation of members to determine whether or not
1004	those members continue to meet the criteria for Special Risk
1005	Class membership.
1006	(6)(5)  CREDIT FOR PAST SERVICE.-A special risk member may
1007	purchase retirement credit in the Special Risk Class based upon
1008	past service, and may upgrade retirement credit for such past
1009	service, to the extent of 2 percent of the member's average
1010	monthly compensation as specified in s. 121.091(1)(a) for such
1011	service as follows:
1012	(a)  The member may purchase special risk credit for past
1013	service with a city or special district which has elected to
1014	join the Florida Retirement System, or with a participating
1015	agency to which a member's governmental unit was transferred,
1016	merged, or consolidated as provided in s. 121.081(1)(f), if the
1017	member was employed with the city or special district at the
1018	time it commenced participating in the Florida Retirement System
1019	or with the governmental unit at the time of its transfer,
1020	merger, or consolidation with the participating agency. The
1021	service must satisfy the criteria set forth in subsection (3)
1022	(2) for special risk membership as a law enforcement officer,
1023	firefighter, or correctional officer; however, no certificate or
1024	waiver of certificate of compliance with s. 943.1395 or s.
1025	633.35 shall be required for such service.
1026	(b)  Contributions for upgrading the additional special
1027	risk credit pursuant to this subsection shall be equal to the
1028	difference in the employer and, if applicable, employee
1029	contributions paid and the special risk percentage rate of gross
1030	salary in effect at the time of purchase for the period being
1031	claimed, plus interest thereon at the rate of 4 percent a year
1032	compounded annually from the date of such service until July 1,
1033	1975, and 6.5 percent a year thereafter until the date of
1034	payment. This past service may be purchased by the member or by
1035	the employer on behalf of the member.
1036	(7)(6)  CREDIT FOR PRIOR SERVICE.-A special risk member who
1037	has creditable service with an employer under chapter 122 or
1038	chapter 321, or was employed as a correctional counselor with
1039	the Department of Corrections between December 1, 1970, and
1040	September 30, 1979, in a position which satisfies the criteria
1041	provided for in subsection (3) (2) for special risk membership
1042	except the requirement for a certificate or waiver of
1043	certificate, shall have those years of service counted towards
1044	the attainment of the normal retirement date as a special risk
1045	member under this chapter. The percentage value of each such
1046	year of creditable service under chapter 122, chapter 321, or as
1047	a correctional counselor shall not change as a result of the
1048	application of this subsection. A special risk member who has
1049	taken a refund of contributions for such creditable service
1050	under chapter 122 or chapter 321 and has reclaimed it as prior
1051	service credit under this chapter shall be permitted to have
1052	such creditable service counted towards the attainment of the
1053	normal retirement date for the Special Risk Class of membership
1054	under this chapter.
1055	(8)(7)  SPECIAL RISK ADMINISTRATIVE SUPPORT CLASS RETENTION
1056	OF SPECIAL RISK NORMAL RETIREMENT DATE.-
1057	(a)  A special risk member who is moved or reassigned to a
1058	nonspecial risk law enforcement, firefighting, correctional, or
1059	emergency medical care administrative support position with the
1060	same agency, or who is subsequently employed in such a position
1061	with any law enforcement, firefighting, correctional, or
1062	emergency medical care agency under the Florida Retirement
1063	System, shall participate in the Special Risk Administrative
1064	Support Class and shall earn credit for such service at the same
1065	percentage rate as that earned by a regular member.
1066	Notwithstanding the provisions of subsection (5) (4), service in
1067	such an administrative support position shall, for purposes of
1068	s. 121.091, apply toward satisfaction of the special risk normal
1069	retirement date, as defined in s. 121.021(29)(b), provided that,
1070	while in such position, the member remains certified as a law
1071	enforcement officer, firefighter, correctional officer,
1072	emergency medical technician, or paramedic; remains subject to
1073	reassignment at any time to a position qualifying for special
1074	risk membership; and completes an aggregate of 6 or more years
1075	of service as a designated special risk member prior to
1076	retirement.
1077	(b)  Upon application by a member, the provisions of this
1078	subsection shall apply, with respect to such member,
1079	retroactively to October 1, 1978, provided that the member was
1080	removed from the Special Risk Class effective October 1, 1978,
1081	due to a change in special risk criteria as a result of the
1082	enactment of chapter 78-308, Laws of Florida, or was reassigned
1083	or employed for training or career development or to fill a
1084	critical agency need.
1085	(c)  The department shall adopt such rules as are required
1086	to administer this subsection.
1087	(d)  Notwithstanding any provision of this subsection to
1088	the contrary, this subsection does not apply to any special risk
1089	member who qualifies for continued membership pursuant to the
1090	provisions of paragraph (3)(2)(k).
1091	(9)(8)  RESTORATION OF SPECIAL RISK CREDIT FOR SPECIFIED
1092	PERIOD OF EMPLOYMENT.-A special risk member who was removed from
1093	the Special Risk Class effective October 1978, for the sole
1094	reason that he or she did not possess the required certificate
1095	or temporary waiver of certificate, and who obtained
1096	certification and was approved for special risk membership on or
1097	before June 30, 1982, shall be permitted to have special risk
1098	credit restored for that period upon:
1099	(a)  Certification by his or her employer that all
1100	requirements for special risk membership except the requirement
1101	for certification or temporary waiver of certification were met;
1102	and
1103	(b)  Payment of contributions equal to the difference in
1104	the contributions that were paid during the period and the
1105	contributions required for special risk members during that
1106	period, plus 6.5 percent interest thereon, compounded each June
1107	30 from date of service until date of payment.
1108
1109	This credit may be purchased by the member or by the employer on
1110	behalf of the member.
1111	(10)(9)  CREDIT FOR UPGRADED SERVICE.-
1112	(a)  Any member of the Special Risk Class who has earned
1113	creditable service through September 30, 1999, in another
1114	membership class of the Florida Retirement System as an
1115	emergency medical technician or paramedic, which service is
1116	within the purview of the Special Risk Class, may purchase
1117	additional retirement credit to upgrade such service to Special
1118	Risk Class service, to the extent of the percentages of the
1119	member's average final compensation provided in s.
1120	121.091(1)(a)2. Contributions for upgrading such service to
1121	Special Risk Class credit under this subsection shall be equal
1122	to the difference in the contributions paid and the Special Risk
1123	Class contribution rate as a percentage of gross salary in
1124	effect for the period being claimed, plus interest thereon at
1125	the rate of 6.5 percent a year, compounded annually until the
1126	date of payment. This service credit may be purchased by the
1127	employer on behalf of the member.
1128	(b)  Any member of the Special Risk Class who has earned
1129	creditable service through September 30, 2001, in another
1130	membership class of the Florida Retirement System whose
1131	responsibilities included fire prevention or firefighter
1132	training, which service is within the purview of the Special
1133	Risk Class, may purchase additional retirement credit to upgrade
1134	such service to Special Risk Class service, to the extent of the
1135	percentages of the member's average final compensation provided
1136	in s. 121.091(1)(a)2. Contributions for upgrading such service
1137	to Special Risk Class credit under this subsection shall be
1138	equal to the difference in the contributions paid and the
1139	Special Risk Class contribution rate as a percentage of gross
1140	salary in effect for the period being claimed, plus interest
1141	thereon at the rate of 6.5 percent a year, compounded annually
1142	until the date of payment. This service credit may be purchased
1143	by the employer on behalf of the member.
1144	(c)  Any member of the Special Risk Class who has earned
1145	creditable service through June 30, 2005, in another membership
1146	class of the Florida Retirement System in a position with the
1147	Department of Law Enforcement or the Division of State Fire
1148	Marshal and became covered by the Special Risk Class as
1149	described in paragraph (3)(2)(i), or with a local government law
1150	enforcement agency or medical examiner's office and became
1151	covered by the Special Risk Class as described in paragraph
1152	(3)(2)(j), which service is within the purview of the Special
1153	Risk Class, and is employed in such position on or after July 1,
1154	2008, may purchase additional retirement credit to upgrade such
1155	service to Special Risk Class service, to the extent of the
1156	percentages of the member's average final compensation provided
1157	in s. 121.091(1)(a)2. The cost for such credit shall be an
1158	amount representing the actuarial accrued liability for the
1159	difference in accrual value during the affected period of
1160	service. The cost shall be calculated using the discount rate
1161	and other relevant actuarial assumptions that were used to value
1162	the Florida Retirement System Pension defined benefit Plan
1163	liabilities in the most recent actuarial valuation. The division
1164	shall ensure that the transfer sum is prepared using a formula
1165	and methodology certified by an enrolled actuary. The cost must
1166	be paid immediately upon notification by the division. The local
1167	government employer may purchase the upgraded service credit on
1168	behalf of the member if the member has been employed by that
1169	employer for at least 3 years.
1170	Section 7.  Paragraphs (a) and (d) of subsection (4),
1171	paragraph (b) of subsection (7), and subsection (10) of section
1172	121.052, Florida Statutes, are amended, present paragraph (c) of
1173	subsection (7) of that section is redesignated as paragraph (d),
1174	and a new paragraph (c) is added to that subsection, to read:
1175	121.052  Membership class of elected officers.-
1176	(4)  PARTICIPATION BY ELECTED OFFICERS SERVING A SHORTENED
1177	TERM DUE TO APPORTIONMENT, FEDERAL INTERVENTION, ETC.-
1178	(a)  Any duly elected officer whose term of office was
1179	shortened by legislative or judicial apportionment pursuant to
1180	the provisions of s. 16, Art. III of the State Constitution may,
1181	after the term of office to which he or she was elected is
1182	completed, pay into the System Trust Fund the amount of
1183	contributions that would have been made by the officer or the
1184	officer's employer on his or her behalf, plus 4 percent interest
1185	compounded annually from the date he or she left office until
1186	July 1, 1975, and 6.5 percent interest compounded annually
1187	thereafter, and may receive service credit for the length of
1188	time the officer would have served if such term had not been
1189	shortened by apportionment.
1190	(d)1.  Any justice or judge, or any retired justice or
1191	judge who retired before July 1, 1993, who has attained the age
1192	of 70 years and who is prevented under s. 8, Art. V of the State
1193	Constitution from completing his or her term of office because
1194	of age may elect to purchase credit for all or a portion of the
1195	months he or she would have served during the remainder of the
1196	term of office, but he or she may claim those months only after
1197	the date the service would have occurred. The justice or judge
1198	must pay into the System Trust Fund the amount of contributions
1199	that would have been made by the employer on his or her behalf
1200	for the period of time being claimed, plus 6.5 percent interest
1201	thereon compounded each June 30 from the date he or she left
1202	office, in order to receive service credit in this class for the
1203	period of time being claimed. After the date the service would
1204	have occurred, and upon payment of the required contributions,
1205	the retirement benefit of a retired justice or judge shall will
1206	be adjusted prospectively to include the this additional
1207	creditable service; however, such adjustment may be made only
1208	once.
1209	2.  Any justice or judge who does not seek election to a
1210	subsequent term of office because he or she would be prevented
1211	under s. 8, Art. V of the State Constitution from completing
1212	such term of office upon attaining the age of 70 years may elect
1213	to purchase service credit for service as a temporary judge as
1214	assigned by the court if the temporary assignment follows
1215	immediately the last full term of office served and the purchase
1216	is limited to the number of months of service needed to vest
1217	retirement benefits. To receive retirement credit for such
1218	temporary service beyond termination, the justice or judge must
1219	pay into the System Trust Fund the amount of contributions that
1220	would have been made by the justice or judge and the employer on
1221	his or her behalf had he or she continued in office for the
1222	period of time being claimed, plus 6.5 percent interest thereon
1223	compounded each June 30 from the date he or she left office.
1224	(7)  CONTRIBUTIONS.-
1225	(b)  The employer paying the salary of a member of the
1226	Elected Officers' Class shall contribute an amount as specified
1227	in this subsection or s. 121.71, as appropriate, which shall
1228	constitute the entire employer retirement contribution with
1229	respect to such member. The employer shall also withhold one-
1230	half of the entire contribution of the member required for
1231	social security coverage. Effective July 1, 2011, each member of
1232	the Elected Officers' Class shall pay employee contributions as
1233	specified in s. 121.71.
1234	(c)  If a member of the Elected Officers' Class ceases to
1235	fill an office covered by this class for 3 calendar months for
1236	any reason other than retirement and has not been employed in
1237	any capacity with any participating employer for 3 calendar
1238	months, the member may receive a refund of all contributions he
1239	or she has made to the pension plan, subject to the restrictions
1240	otherwise provided in this chapter. Partial refunds are not
1241	permitted. The refund shall not include any interest earnings on
1242	the contributions for a member of the pension plan. Employer
1243	contributions made on behalf of the member are not refundable. A
1244	member may not receive a refund of employee contributions if a
1245	pending or an approved qualified domestic relations order is
1246	filed against the member's retirement account. By obtaining a
1247	refund of contributions, a member waives all rights under the
1248	Florida Retirement System and the health insurance subsidy
1249	provided under s. 112.363 to the service credit represented by
1250	the refunded contributions, except the right to purchase his or
1251	her prior service credit in accordance with s. 121.081(2).
1252	(10)  ACCRUED SERVICE VALUE.-A member of the Elected
1253	Officers' Class who is a Supreme Court justice, district court
1254	of appeal judge, circuit judge, or county court judge shall
1255	receive judicial retirement credit of 3 1/3 percent of average
1256	final compensation, and all other members shall receive elected
1257	officer accrual value retirement credit of 3 percent of average
1258	final compensation, for each year of creditable service in such
1259	class.
1260	Section 8.  Paragraph (a) of subsection (7) of section
1261	121.053, Florida Statutes, is amended to read:
1262	121.053  Participation in the Elected Officers' Class for
1263	retired members.-
1264	(7)  A member who is elected or appointed to an elective
1265	office and who is participating in the Deferred Retirement
1266	Option Program is not subject to termination as defined in s.
1267	121.021, or reemployment limitations as provided in s.
1268	121.091(9), until the end of his or her current term of office
1269	or, if the officer is consecutively elected or reelected to an
1270	elective office eligible for coverage under the Florida
1271	Retirement System, until he or she no longer holds an elective
1272	office, as follows:
1273	(a)  At the end of the 60-month DROP period:
1274	1.  The officer's DROP account may not accrue additional
1275	monthly benefits, but does continue to earn interest as provided
1276	in s. 121.091(13). However, an officer whose DROP participation
1277	begins on or after July 1, 2010, may not continue to earn such
1278	interest.
1279	2.  Retirement contributions, except for unfunded actuarial
1280	liability and health insurance subsidy contributions required in
1281	ss. 121.71(5) and 121.76, are not required of the employer of
1282	the elected officer and additional retirement credit may not be
1283	earned under the Florida Retirement System.
1284	Section 9.  Paragraphs (b) and (j) of subsection (1),
1285	paragraph (b) of subsection (3), and paragraphs (d) and (e) of
1286	subsection (6) of section 121.055, Florida Statutes, are
1287	amended, present paragraph (c) of subsection (3) of that section
1288	is redesignated as paragraph (d), and a new paragraph (c) is
1289	added to that subsection, to read:
1290	121.055  Senior Management Service Class.-There is hereby
1291	established a separate class of membership within the Florida
1292	Retirement System to be known as the "Senior Management Service
1293	Class," which shall become effective February 1, 1987.
1294	(1)
1295	(b)1.  Except as provided in subparagraph 2., effective
1296	January 1, 1990, participation in the Senior Management Service
1297	Class is shall be compulsory for the president of each community
1298	college, the manager of each participating city or county, and
1299	all appointed district school superintendents. Effective January
1300	1, 1994, additional positions may be designated for inclusion in
1301	the Senior Management Service Class of the Florida Retirement
1302	System, provided that:
1303	a.  Positions to be included in the class are shall be
1304	designated by the local agency employer. Notice of intent to
1305	designate positions for inclusion in the class must shall be
1306	published once a week for 2 consecutive weeks in a newspaper of
1307	general circulation published in the county or counties
1308	affected, as provided in chapter 50.
1309	b.  Up to 10 nonelective full-time positions may be
1310	designated for each local agency employer reporting to the
1311	department of Management Services; for local agencies with 100
1312	or more regularly established positions, additional nonelective
1313	full-time positions may be designated, not to exceed 1 percent
1314	of the regularly established positions within the agency.
1315	c.  Each position added to the class must be a managerial
1316	or policymaking position filled by an employee who is not
1317	subject to continuing contract and serves at the pleasure of the
1318	local agency employer without civil service protection, and who:
1319	(I)  Heads an organizational unit; or
1320	(II)  Has responsibility to effect or recommend personnel,
1321	budget, expenditure, or policy decisions in his or her areas of
1322	responsibility.
1323	2.  In lieu of participation in the Senior Management
1324	Service Class, members of the Senior Management Service Class,
1325	pursuant to the provisions of subparagraph 1., may withdraw from
1326	the Florida Retirement System altogether. The decision to
1327	withdraw from the Florida Retirement System is shall be
1328	irrevocable for as long as the employee holds the such a
1329	position. Any service creditable under the Senior Management
1330	Service Class shall be retained after the member withdraws from
1331	the Florida Retirement System; however, additional service
1332	credit in the Senior Management Service Class may shall not be
1333	earned after such withdrawal. Such members are shall not be
1334	eligible to participate in the Senior Management Service
1335	Optional Annuity Program.
1336	3.  Effective January 1, 2006, through June 30, 2006, an
1337	employee who has withdrawn from the Florida Retirement System
1338	under subparagraph 2. has one opportunity to elect to
1339	participate in either the pension plan defined benefit program
1340	or the investment plan Public Employee Optional Retirement
1341	Program of the Florida Retirement System.
1342	a.  If the employee elects to participate in the investment
1343	plan Public Employee Optional Retirement Program, membership
1344	shall be prospective, and the applicable provisions of s.
1345	121.4501(4) shall govern the election.
1346	b.  If the employee elects to participate in the pension
1347	plan defined benefit program of the Florida Retirement System,
1348	the employee shall, upon payment to the system trust fund of the
1349	amount calculated under sub-sub-subparagraph (I), receive
1350	service credit for prior service based upon the time during
1351	which the employee had withdrawn from the system.
1352	(I)  The cost for such credit shall be an amount
1353	representing the actuarial accrued liability for the affected
1354	period of service. The cost shall be calculated using the
1355	discount rate and other relevant actuarial assumptions that were
1356	used to value the pension Florida Retirement System defined
1357	benefit plan liabilities in the most recent actuarial valuation.
1358	The calculation must shall include any service already
1359	maintained under the pension defined benefit plan in addition to
1360	the period of withdrawal. The actuarial accrued liability
1361	attributable to any service already maintained under the pension
1362	defined benefit plan shall be applied as a credit to the total
1363	cost resulting from the calculation. The division must shall
1364	ensure that the transfer sum is prepared using a formula and
1365	methodology certified by an actuary.
1366	(II)  The employee must transfer a sum representing the net
1367	cost owed for the actuarial accrued liability in sub-sub-
1368	subparagraph (I) immediately following the time of such
1369	movement, determined assuming that attained service equals the
1370	sum of service in the pension plan defined benefit program and
1371	the period of withdrawal.
1372	(j)  Except as may otherwise be provided, a any member of
1373	the Senior Management Service Class may purchase additional
1374	retirement credit in such class for creditable service within
1375	the purview of the Senior Management Service Class retroactive
1376	to February 1, 1987, and may upgrade retirement credit for such
1377	service, to the extent of 2 percent of the member's average
1378	monthly compensation as specified in paragraph (4)(d) for such
1379	service. Contributions for upgrading the additional Senior
1380	Management Service credit pursuant to this paragraph shall be
1381	equal to the difference in the employer and, if applicable,
1382	employee contributions paid and the Senior Management Service
1383	Class contribution rate as a percentage of gross salary in
1384	effect for the period being claimed, plus interest thereon at
1385	the rate of 6.5 percent a year, compounded annually until the
1386	date of payment. This service credit may be purchased by the
1387	employer on behalf of the member.
1388	(3)
1389	(b)  The employer paying the salary of a member of the
1390	Senior Management Service Class shall contribute an amount as
1391	specified in this section or s. 121.71, as appropriate, which
1392	shall constitute the entire employer retirement contribution
1393	with respect to such member. The employer shall also withhold
1394	one-half of the entire contribution of the member required for
1395	social security coverage. Effective July 1, 2011, each member
1396	shall pay employee contributions as specified in s. 121.71.
1397	(c)  Upon termination of employment from all participating
1398	employers for 3 calendar months for any reason other than
1399	retirement pursuant to s. 121.021(39)(c), a member may receive a
1400	refund of all contributions he or she has made to the pension
1401	plan, subject to the restrictions otherwise provided in this
1402	chapter. Partial refunds are not permitted. The refund shall not
1403	include any interest earnings on the contributions for a member
1404	of the pension plan. Employer contributions made on behalf of
1405	the member are not refundable. A member may not receive a refund
1406	of employee contributions if a pending or an approved qualified
1407	domestic relations order is filed against the member's
1408	retirement account. By obtaining a refund of contributions, a
1409	member waives all rights under the Florida Retirement System and
1410	the health insurance subsidy provided under s. 112.363 to the
1411	service credit represented by the refunded contributions, except
1412	the right to purchase his or her prior service credit in
1413	accordance with s. 121.081(2).
1414	(6)
1415	(d)  Contributions.-
1416	1.  Through June 30, 2001, each employer shall contribute
1417	on behalf of each participant in the Senior Management Service
1418	Optional Annuity Program an amount equal to the normal cost
1419	portion of the employer retirement contribution which would be
1420	required if the participant were a Senior Management Service
1421	Class member of the Florida Retirement System pension plan
1422	defined benefit program, plus the portion of the contribution
1423	rate required in s. 112.363(8) that would otherwise be assigned
1424	to the Retiree Health Insurance Subsidy Trust Fund. Effective
1425	July 1, 2001, each employer shall contribute on behalf of each
1426	participant in the optional program an amount equal to 12.49
1427	percent of the participant's gross monthly compensation. The
1428	department shall deduct an amount approved by the Legislature to
1429	provide for the administration of this program. The payment of
1430	the contributions to the optional program which is required by
1431	this subparagraph for each participant shall be made by the
1432	employer to the department, which shall forward the
1433	contributions to the designated company or companies contracting
1434	for payment of benefits for the participant under the program.
1435	2.  Each employer shall contribute on behalf of each
1436	participant in the Senior Management Service Optional Annuity
1437	Program an amount equal to the unfunded actuarial accrued
1438	liability portion of the employer contribution which would be
1439	required for members of the Senior Management Service Class in
1440	the Florida Retirement System. This contribution shall be paid
1441	to the department for transfer to the Florida Retirement System
1442	Trust Fund.
1443	3.  An Optional Annuity Program Trust Fund shall be
1444	established in the State Treasury and administered by the
1445	department to make payments to provider companies on behalf of
1446	the optional annuity program participants, and to transfer the
1447	unfunded liability portion of the state optional annuity program
1448	contributions to the Florida Retirement System Trust Fund.
1449	4.  Contributions required for social security by each
1450	employer and each participant, in the amount required for social
1451	security coverage as now or hereafter may be provided by the
1452	federal Social Security Act shall be maintained for each
1453	participant in the Senior Management Service retirement program
1454	and shall be in addition to the retirement contributions
1455	specified in this paragraph.
1456	5.  Each participant in the Senior Management Service
1457	Optional Annuity Program may contribute by way of salary
1458	reduction or deduction a percentage amount of the participant's
1459	gross compensation not to exceed the percentage amount
1460	contributed by the employer to the optional annuity program.
1461	Payment of the participant's contributions shall be made by the
1462	employer to the department, which shall forward the
1463	contributions to the designated company or companies contracting
1464	for payment of benefits for the participant under the program.
1465	(e)  Benefits.-
1466	1.  Benefits under the Senior Management Service Optional
1467	Annuity Program are payable only to participants in the program,
1468	or their beneficiaries as designated by the participant in the
1469	contract with the provider company, and must be paid by the
1470	designated company in accordance with the terms of the annuity
1471	contract applicable to the participant. A participant must be
1472	terminated from all employment relationships with Florida
1473	Retirement System employers as provided in s. 121.021(39) to
1474	begin receiving the employee-funded and employer-funded benefit.
1475	Benefits funded by employee and employer contributions are
1476	payable under the terms of the contract to the participant, his
1477	or her beneficiary, or his or her estate, in addition to:
1478	a.  A lump-sum payment to the beneficiary upon the death of
1479	the participant;
1480	b.  A cash-out of a de minimis account upon the request of
1481	a former participant who has been terminated for a minimum of 6
1482	calendar months from the employment that entitled him or her to
1483	optional annuity program participation. Such cash-out must be a
1484	complete liquidation of the account balance with that company
1485	and is subject to the Internal Revenue Code;
1486	c.  A mandatory distribution of a de minimis account of a
1487	former participant who has been terminated for a minimum of 6
1488	calendar months from the employment that entitled him or her to
1489	optional annuity program participation as authorized by the
1490	department; or
1491	d.  A lump-sum direct rollover distribution whereby all
1492	accrued benefits, plus interest and investment earnings, are
1493	paid from the participant's account directly to the custodian of
1494	an eligible retirement plan, as defined in s. 402(c)(8)(B) of
1495	the Internal Revenue Code, on behalf of the participant.
1496	2.  Under the Senior Management Service Optional Annuity
1497	Program, benefits are not payable for employee hardships,
1498	unforeseeable emergencies, loans, medical expenses, educational
1499	expenses, purchase of a principal residence, payments necessary
1500	to prevent eviction or foreclosure on an employee's principal
1501	residence, or any other reason prior to termination from all
1502	employment relationships with participating employers, as
1503	provided in s. 121.021(39).
1504	3.2.  The benefits payable to any person under the Senior
1505	Management Service Optional Annuity Program, and any
1506	contribution accumulated under such program, are not subject to
1507	assignment, execution, or attachment or to any legal process
1508	whatsoever.
1509	4.3.  Except as provided in subparagraph 5. 4., a
1510	participant who terminates employment and receives a
1511	distribution, including a rollover or trustee-to-trustee
1512	transfer, funded by employer contributions shall be deemed to be
1513	retired from a state-administered retirement system if the
1514	participant is subsequently employed with an employer that
1515	participates in the Florida Retirement System.
1516	5.4.  A participant who receives optional annuity program
1517	benefits funded by employee and employer contributions as a
1518	mandatory distribution of a de minimis account authorized by the
1519	department is not considered a retiree.
1520
1521	As used in this paragraph, a "de minimis account" means an
1522	account with a provider company containing employee and employer
1523	contributions and accumulated earnings of not more than $5,000
1524	made under this chapter.
1525	Section 10.  Subsections (2) and (5) and paragraph (c) of
1526	subsection (6) of section 121.071, Florida Statutes, are
1527	amended, present paragraph (d) of subsection (6) is redesignated
1528	as paragraph (e), and a new paragraph (d) is added to that
1529	subsection, to read:
1530	121.071  Contributions.-Contributions to the system shall
1531	be made as follows:
1532	(2)(a)  Effective January 1, 1975, or October 1, 1975, as
1533	applicable, and through June 30, 2011, each employer shall
1534	accomplish the contribution required by subsection (1) by a
1535	procedure in which no employee's gross salary shall be reduced.
1536	Effective July 1, 2011, each employee and employer shall pay
1537	retirement contributions as specified in s. 121.71.
1538	(b)  Upon termination of employment from all participating
1539	employers for 3 calendar months for any reason other than
1540	retirement pursuant to s. 121.021(39)(c), a member may receive
1541	shall be entitled to a full refund of all the contributions he
1542	or she has made to the pension prior or subsequent to
1543	participation in the noncontributory plan, subject to the
1544	restrictions otherwise provided in this chapter. Partial refunds
1545	are not permitted. The refund shall not include any interest
1546	earnings on the contributions for a member of the pension plan.
1547	Employer contributions made on behalf of the member are not
1548	refundable. A member may not receive a refund of employee
1549	contributions if a pending or an approved qualified domestic
1550	relations order is filed against his or her retirement account.
1551	By obtaining a refund of contributions, a member waives all
1552	rights under the Florida Retirement System and the health
1553	insurance subsidy to the service credit represented by the
1554	refunded contributions, except the right to purchase his or her
1555	prior service credit in accordance with s. 121.081(2).
1556	(5)  Contributions made in accordance with subsections (1),
1557	(2), (3), and (4), and s. 121.71 shall be paid by the employer
1558	into the system trust funds in accordance with rules adopted by
1559	the administrator pursuant to chapter 120, except as may be
1560	otherwise specified herein. Effective July 1, 2002,
1561	contributions paid under subsections (1) and (4) and
1562	accompanying payroll data are due and payable no later than the
1563	5th working day of the month immediately following the month
1564	during which the payroll period ended.
1565	(6)
1566	(c)  By obtaining a refund of contributions, a member
1567	waives all rights under the Florida Retirement System and the
1568	health insurance subsidy as provided in s. 112.363 to the
1569	service credit represented by the refunded contributions, except
1570	the right to purchase his or her prior service credit in
1571	accordance with s. 121.081(2).
1572	(d)  If a member or former member of the pension plan
1573	receives an invalid refund from the Florida Retirement System
1574	Trust Fund, such person must repay the full amount of the
1575	invalid refund, plus interest at 6.5 percent compounded annually
1576	on each June 30 from the date of refund until full payment is
1577	made to the trust fund. The invalid refund must be repaid before
1578	the member retires or, if applicable, transfers to the
1579	investment plan.
1580	Section 11.  Paragraphs (b) and (c) of subsection (1) and
1581	subsection (2) of section 121.081, Florida Statutes, are amended
1582	to read:
1583	121.081  Past service; prior service; contributions.-
1584	Conditions under which past service or prior service may be
1585	claimed and credited are:
1586	(1)
1587	(b)  Past service earned after January 1, 1975, may be
1588	claimed by officers or employees of a municipality, metropolitan
1589	planning organization, charter school, charter technical career
1590	center, or special district who become a covered group under
1591	this system. The governing body of a covered group may elect to
1592	provide benefits for past service earned after January 1, 1975,
1593	in accordance with this chapter, and the cost for such past
1594	service is established by applying the following formula: The
1595	employer shall contribute an amount equal to the employer
1596	contribution rate in effect at the time the service was earned
1597	and, if applicable, the employee contribution rate, multiplied
1598	by the employee's gross salary for each year of past service
1599	claimed, plus 6.5-percent interest thereon, compounded annually,
1600	figured on each year of past service, with interest compounded
1601	from date of annual salary earned until date of payment.
1602	(c)  If an employer joins the Florida Retirement System
1603	prior to July 1, 2011, and does Should the employer not elect to
1604	provide past service for the member at the time of joining, then
1605	the member may claim and pay for the service as provided in
1606	same, based on paragraphs (a) and (b).
1607	(2)  Prior service, as defined in s. 121.021(19), may be
1608	claimed as creditable service under the Florida Retirement
1609	System after a member has been reemployed for 1 complete year of
1610	creditable service within a period of 12 consecutive months,
1611	except as provided in paragraph (c). Service performed as a
1612	participant of the optional retirement program for the State
1613	University System under s. 121.35 or the Senior Management
1614	Service Optional Annuity Program under s. 121.055 may be used to
1615	satisfy the reemployment requirement of 1 complete year of
1616	creditable service. The member shall not be permitted to make
1617	any contributions for prior service until after completion of
1618	the 1 year of creditable service. If a member does not wish to
1619	claim credit for all of his or her prior service, the service
1620	the member claims must be the most recent period of service. The
1621	required contributions for claiming the various types of prior
1622	service are:
1623	(a)  For prior service performed prior to the date the
1624	system becomes noncontributory for the member and for which the
1625	member had credit under one of the existing retirement systems
1626	and received a refund of contributions upon termination of
1627	employment, the member shall contribute 4 percent of all salary
1628	received during the period being claimed, plus 4-percent
1629	interest compounded annually from date of refund until July 1,
1630	1975, and 6.5-percent interest compounded annually thereafter,
1631	until full payment is made to the Retirement Trust Fund, and
1632	shall receive credit in the Regular Class. A member who elected
1633	to transfer to the Florida Retirement System from an existing
1634	system may receive credit for prior service under the existing
1635	system if he or she was eligible under the existing system to
1636	claim the prior service at the time of the transfer.
1637	Contributions for such prior service shall be determined by the
1638	applicable provisions of the system under which the prior
1639	service is claimed and shall be paid by the member, with
1640	matching contributions paid by the employer at the time the
1641	service was performed. Effective July 1, 1978, the account of a
1642	person who terminated under s. 238.05(3) may not be charged
1643	interest for contributions that remained on deposit in the
1644	Annuity Savings Trust Fund established under chapter 238, upon
1645	retirement under this chapter or chapter 238.
1646	(b)  For prior service performed prior to the date the
1647	system becomes noncontributory for the member and for which the
1648	member had credit under the Florida Retirement System and
1649	received a refund of contributions upon termination of
1650	employment, the member shall contribute at the rate that was
1651	required of him or her during the period of service being
1652	claimed, on all salary received during such period, plus 4-
1653	percent interest compounded annually from date of refund until
1654	July 1, 1975, and 6.5-percent interest compounded annually
1655	thereafter, until the full payment is made to the Retirement
1656	Trust Fund, and shall receive credit in the membership class in
1657	which the member participated during the period claimed.
1658	(c)  For prior service as defined in s. 121.021(19)(b) and
1659	(c) during which no contributions were made because the member
1660	did not participate in a retirement system, the member shall
1661	contribute 14.38 percent of all salary received during such
1662	period or 14.38 percent of $100 per month during such period,
1663	whichever is greater, plus 4-percent interest compounded
1664	annually from the first year of service claimed until July 1,
1665	1975, and 6.5-percent interest compounded annually thereafter,
1666	until full payment is made to the Retirement Trust Fund, and
1667	shall receive credit in the Regular Class.
1668	(d)  In order to claim credit for prior service as defined
1669	in s. 121.021(19)(d) for which no retirement contributions were
1670	paid during the period of such service, the member shall
1671	contribute the total employee and employer contributions which
1672	were required to be made to the Highway Patrol Pension Trust
1673	Fund, as provided in chapter 321, during the period claimed,
1674	plus 4-percent interest compounded annually from the first year
1675	of service until July 1, 1975, and 6.5-percent interest
1676	compounded annually thereafter, until full payment is made to
1677	the Retirement Trust Fund. However, any governmental entity that
1678	which employed such member may elect to pay up to 50 percent of
1679	the contributions and interest required to purchase the this
1680	prior service credit. The service shall be credited in
1681	accordance with the provisions of the Highway Patrol Pension
1682	Plan in effect during the period claimed unless the member
1683	terminated and withdrew his or her retirement contributions and
1684	was thereafter enrolled in the State and County Officers and
1685	Employees' Retirement System or the Florida Retirement System,
1686	in which case the service shall be credited as Regular Class
1687	service.
1688	(e)  For service performed under the Florida Retirement
1689	System after December 1, 1970, that was never reported to the
1690	division or the department due to error, retirement credit may
1691	be claimed by a member of the Florida Retirement System. The
1692	department shall adopt rules establishing criteria for claiming
1693	such credit and detailing the documentation required to
1694	substantiate the error.
1695	(f)  For prior service performed on or after July 1, 2011,
1696	for which the member had credit under the Florida Retirement
1697	System and received a refund of contributions upon termination
1698	of employment for 3 calendar months, the member shall contribute
1699	at the rate that was required of him or her during the period of
1700	service being claimed, plus 6.5 percent interest, compounded
1701	annually on each June 30 from date of refund until the full
1702	payment is made to the Florida Retirement System Trust Fund, and
1703	shall receive credit in the membership class in which the member
1704	participated during the period claimed.
1705	(g)(f)  The employer may not be required to make
1706	contributions for prior service credit for any member, except
1707	that the employer shall pay the employer portion of
1708	contributions for any legislator who elects to withdraw from the
1709	Florida Retirement System and later rejoins the system and pays
1710	any employee contributions required in accordance with s.
1711	121.052(3)(d).
1712	Section 12.  Subsection (1), paragraph (a) of subsection
1713	(3), paragraphs (a) and (c) of subsection (5), paragraph (d) of
1714	subsection (9), and paragraph (a) of subsection (13) of section
1715	121.091, Florida Statutes, are amended, and paragraph (l) is
1716	added to subsection (13) of that section, to read:
1717	121.091  Benefits payable under the system.-Benefits may
1718	not be paid under this section unless the member has terminated
1719	employment as provided in s. 121.021(39)(a) or begun
1720	participation in the Deferred Retirement Option Program as
1721	provided in subsection (13), and a proper application has been
1722	filed in the manner prescribed by the department. The department
1723	may cancel an application for retirement benefits when the
1724	member or beneficiary fails to timely provide the information
1725	and documents required by this chapter and the department's
1726	rules. The department shall adopt rules establishing procedures
1727	for application for retirement benefits and for the cancellation
1728	of such application when the required information or documents
1729	are not received.
1730	(1)  NORMAL RETIREMENT BENEFIT.-Upon attaining his or her
1731	normal retirement date, the member, upon application to the
1732	administrator, shall receive a monthly benefit which shall begin
1733	to accrue on the first day of the month of retirement and be
1734	payable on the last day of that month and each month thereafter
1735	during his or her lifetime. The normal retirement benefit,
1736	including any past or additional retirement credit, may not
1737	exceed 100 percent of the average final compensation. The amount
1738	of monthly benefit shall be calculated as the product of A and
1739	B, subject to the adjustment of C, if applicable, as set forth
1740	below:
1741	(a)1.  For creditable years of Regular Class service, A is
1742	1.60 percent of the member's average final compensation, up to
1743	the member's normal retirement date. Upon completion of the
1744	first year after the normal retirement date, A is 1.63 percent
1745	of the member's average final compensation. Following the second
1746	year after the normal retirement date, A is 1.65 percent of the
1747	member's average final compensation. Following the third year
1748	after the normal retirement date, and for subsequent years, A is
1749	1.68 percent of the member's average final compensation.
1750	2.  For creditable years of special risk service, A is:
1751	a.  Two percent of the member's average final compensation
1752	for all creditable years prior to October 1, 1974.;
1753	b.  Three percent of the member's average final
1754	compensation for all creditable years after September 30, 1974,
1755	and before October 1, 1978.;
1756	c.  Two percent of the member's average final compensation
1757	for all creditable years after September 30, 1978, and before
1758	January 1, 1989.;
1759	d.  Two and two-tenths percent of the member's final
1760	monthly compensation for all creditable years after December 31,
1761	1988, and before January 1, 1990.;
1762	e.  Two and four-tenths percent of the member's average
1763	final compensation for all creditable years after December 31,
1764	1989, and before January 1, 1991.;
1765	f.  Two and six-tenths percent of the member's average
1766	final compensation for all creditable years after December 31,
1767	1990, and before January 1, 1992.;
1768	g.  Two and eight-tenths percent of the member's average
1769	final compensation for all creditable years after December 31,
1770	1991, and before January 1, 1993.;
1771	h.  Three percent of the member's average final
1772	compensation for all creditable years after December 31, 1992.;
1773	and
1774	i.  Three percent of the member's average final
1775	compensation for all creditable years of service after September
1776	30, 1978, and before January 1, 1993, for any special risk
1777	member who retires after July 1, 2000, or any member of the
1778	Special Risk Administrative Support Class entitled to retain the
1779	special risk normal retirement date who was a member of the
1780	Special Risk Class during the time period and who retires after
1781	July 1, 2000.
1782	3.  For creditable years of Senior Management Service Class
1783	service after January 31, 1987, A is 2 percent.;
1784	4.  For creditable years of Elected Officers' Class service
1785	as a Supreme Court Justice, district court of appeal judge,
1786	circuit judge, or county court judge, A is 3 1/3 percent of the
1787	member's average final compensation, and for all other
1788	creditable service in such class, A is 3 percent of average
1789	final compensation.;
1790	(b)  B is the number of the member's years and any
1791	fractional part of a year of creditable service earned
1792	subsequent to November 30, 1970.; and
1793	(c)  C is the normal retirement benefit credit brought
1794	forward as of November 30, 1970, by a former member of an
1795	existing system. Such normal retirement benefit credit shall be
1796	determined as the product of X and Y when X is the percentage of
1797	average final compensation which the member would have been
1798	eligible to receive if the member had attained his or her normal
1799	retirement date as of November 30, 1970, all in accordance with
1800	the existing system under which the member is covered on
1801	November 30, 1970, and Y is average final compensation as
1802	defined in s. 121.021(24). However, any member of an existing
1803	retirement system who is eligible to retire and who does retire,
1804	become disabled, or die prior to April 15, 1971, may have his or
1805	her retirement benefits calculated on the basis of the best 5 of
1806	the last 10 years of service.
1807	(d)  A member's average final compensation shall be
1808	determined by formula to obtain the coverage for the 5 highest
1809	fiscal years' salaries, calculated as provided by rule.
1810	(3)  EARLY RETIREMENT BENEFIT.-Upon retirement on his or
1811	her early retirement date, the member shall receive an immediate
1812	monthly benefit that shall begin to accrue on the first day of
1813	the month of the retirement date and be payable on the last day
1814	of that month and each month thereafter during his or her
1815	lifetime. Such benefit shall be calculated as follows:
1816	(a)1.  For a member initially enrolled before July 1, 2011,
1817	the amount of each monthly payment shall be computed in the same
1818	manner as for a normal retirement benefit, in accordance with
1819	subsection (1), but shall be based on the member's average
1820	monthly compensation and creditable service as of the member's
1821	early retirement date. The benefit so computed shall be reduced
1822	by five-twelfths of 1 percent for each complete month by which
1823	the early retirement date precedes the normal retirement date of
1824	age 62 for a member of the Regular Class, Senior Management
1825	Service Class, or the Elected Officers' Class, and age 55 for a
1826	member of the Special Risk Class, or age 52 if a Special Risk
1827	member has completed 25 years of creditable service in
1828	accordance with s. 121.021(29)(b)1.c. 121.021(29)(b)3.
1829	2.  For a member initially enrolled on or after July 1,
1830	2011, the amount of each monthly payment shall be computed in
1831	the same manner as for a normal retirement benefit, in
1832	accordance with subsection (1), but shall be based on the
1833	member's average monthly compensation and creditable service as
1834	of the member's early retirement date. The benefit so computed
1835	shall be reduced by five-twelfths of 1 percent for each complete
1836	month by which the early retirement date precedes the normal
1837	retirement date of age 65 for a member of the Regular Class,
1838	Senior Management Service Class, or the Elected Officers' Class,
1839	and age 60 for a member of the Special Risk Class, or age 57 if
1840	a Special Risk member has completed 30 years of creditable
1841	service in accordance with s. 121.021(29)(b)2.c.
1842	(5)  TERMINATION BENEFITS.-A member whose employment is
1843	terminated prior to retirement retains membership rights to
1844	previously earned member-noncontributory service credit, and to
1845	member-contributory service credit, if the member leaves the
1846	member contributions on deposit in his or her retirement
1847	account. If a terminated member receives a refund of member
1848	contributions, such member may reinstate membership rights to
1849	the previously earned service credit represented by the refund
1850	by completing 1 year of creditable service and repaying the
1851	refunded member contributions, plus interest.
1852	(a)  A member whose employment is terminated for any reason
1853	other than death or retirement prior to becoming vested is
1854	entitled to the return of his or her accumulated contributions
1855	as of the date of termination. Effective July 1, 2011, upon
1856	termination of employment from all participating employers for 3
1857	calendar months for any reason other than retirement pursuant to
1858	s. 121.021(39)(c), a member may receive a refund of all
1859	contributions he or she has made to the pension plan, subject to
1860	the restrictions otherwise provided in this chapter. Partial
1861	refunds are not permitted. The refund shall not include any
1862	interest earnings on the contributions for a member of the
1863	pension plan. Employer contributions made on behalf of the
1864	member are not refundable. A member may not receive a refund of
1865	employee contributions if a pending or an approved qualified
1866	domestic relations order is filed against his or her retirement
1867	account. By obtaining a refund of contributions, a member waives
1868	all rights under the Florida Retirement System and the health
1869	insurance subsidy to the service credit represented by the
1870	refunded contributions, except the right to purchase his or her
1871	prior service credit in accordance with s. 121.081(2).
1872	(c)  In lieu of the deferred monthly benefit provided in
1873	paragraph (b), the terminated member may elect to receive a
1874	lump-sum amount equal to his or her accumulated contributions as
1875	of the date of termination. Effective July 1, 2011, upon
1876	termination of employment from all participating employers for 3
1877	calendar months for any reason other than retirement pursuant to
1878	s. 121.021(39)(c), a member may receive a refund of all
1879	contributions he or she has made to the pension plan, subject to
1880	the restrictions otherwise provided in this chapter. Partial
1881	refunds are not permitted. The refund shall not include any
1882	interest earnings on the contributions for a member of the
1883	pension plan. Employer contributions made on behalf of the
1884	member are not refundable. A member may not receive a refund of
1885	employee contributions if a pending or an approved qualified
1886	domestic relations order is filed against his or her retirement
1887	account. By obtaining a refund of contributions, a member waives
1888	all rights under the Florida Retirement System and the health
1889	insurance subsidy to the service credit represented by the
1890	refunded contributions, except the right to purchase his or her
1891	prior service credit in accordance with s. 121.081(2).
1892	(9)  EMPLOYMENT AFTER RETIREMENT; LIMITATION.-
1893	(d)  The provisions of this subsection apply to retirees,
1894	as defined in s. 121.4501(2), of the investment plan Public
1895	Employee Optional Retirement Program, subject to the following
1896	conditions:
1897	1.  A retiree The retirees may not be reemployed with an
1898	employer participating in the Florida Retirement System until
1899	such person has been retired for 6 calendar months.
1900	2.  A retiree employed in violation of this subsection and
1901	an employer that employs or appoints such person are jointly and
1902	severally liable for reimbursement of any benefits paid to the
1903	retirement trust fund from which the benefits were paid,
1904	including the Florida Retirement System Trust Fund and the
1905	Florida Retirement System Investment Plan Public Employee
1906	Optional Retirement Program Trust Fund, as appropriate. The
1907	employer must have a written statement from the retiree that he
1908	or she is not retired from a state-administered retirement
1909	system.
1910	(13)  DEFERRED RETIREMENT OPTION PROGRAM.-In general, and
1911	subject to this section, the Deferred Retirement Option Program,
1912	hereinafter referred to as DROP, is a program under which an
1913	eligible member of the Florida Retirement System may elect to
1914	participate, deferring receipt of retirement benefits while
1915	continuing employment with his or her Florida Retirement System
1916	employer. The deferred monthly benefits shall accrue in the
1917	Florida Retirement System on behalf of the participant, plus
1918	interest compounded monthly, for the specified period of the
1919	DROP participation, as provided in paragraph (c). Upon
1920	termination of employment, the participant shall receive the
1921	total DROP benefits and begin to receive the previously
1922	determined normal retirement benefits. Participation in the DROP
1923	does not guarantee employment for the specified period of DROP.
1924	Participation in DROP by an eligible member beyond the initial
1925	60-month period as authorized in this subsection shall be on an
1926	annual contractual basis for all participants.
1927	(a)  Eligibility of member to participate in DROP.-All
1928	active Florida Retirement System members in a regularly
1929	established position, and all active members of the Teachers'
1930	Retirement System established in chapter 238 or the State and
1931	County Officers' and Employees' Retirement System established in
1932	chapter 122, which are consolidated within the Florida
1933	Retirement System under s. 121.011, are eligible to elect
1934	participation in DROP if:
1935	1.  The member is not a renewed member under s. 121.122 or
1936	a member of the State Community College System Optional
1937	Retirement Program under s. 121.051, the Senior Management
1938	Service Optional Annuity Program under s. 121.055, or the
1939	optional retirement program for the State University System
1940	under s. 121.35.
1941	2.  Except as provided in subparagraph 6., election to
1942	participate is made within 12 months immediately following the
1943	date on which the member first reaches normal retirement date,
1944	or, for a member who reaches normal retirement date based on
1945	service before he or she reaches age 62, or age 55 for Special
1946	Risk Class members, election to participate may be deferred to
1947	the 12 months immediately following the date the member attains
1948	age 57, or age 52 for Special Risk Class members. A member who
1949	delays DROP participation during the 12-month period immediately
1950	following his or her maximum DROP deferral date, except as
1951	provided in subparagraph 6., loses a month of DROP participation
1952	for each month delayed. A member who fails to make an election
1953	within the 12-month limitation period forfeits all rights to
1954	participate in DROP. The member shall advise his or her employer
1955	and the division in writing of the date DROP begins. The
1956	beginning date may be subsequent to the 12-month election period
1957	but must be within the original 60-month participation period
1958	provided in subparagraph (b)1. When establishing eligibility of
1959	the member to participate in DROP, the member may elect to
1960	include or exclude any optional service credit purchased by the
1961	member from the total service used to establish the normal
1962	retirement date. A member who has dual normal retirement dates
1963	is eligible to elect to participate in DROP after attaining
1964	normal retirement date in either class.
1965	3.  The employer of a member electing to participate in
1966	DROP, or employers if dually employed, shall acknowledge in
1967	writing to the division the date the member's participation in
1968	DROP begins and the date the member's employment and DROP
1969	participation will terminate.
1970	4.  Simultaneous employment of a participant by additional
1971	Florida Retirement System employers subsequent to the
1972	commencement of participation in DROP is permissible if such
1973	employers acknowledge in writing a DROP termination date no
1974	later than the participant's existing termination date or the
1975	maximum participation period provided in subparagraph (b)1.
1976	5.  A DROP participant may change employers while
1977	participating in DROP, subject to the following:
1978	a.  A change of employment must take place without a break
1979	in service so that the member receives salary for each month of
1980	continuous DROP participation. If a member receives no salary
1981	during a month, DROP participation shall cease unless the
1982	employer verifies a continuation of the employment relationship
1983	for such participant pursuant to s. 121.021(39)(b).
1984	b.  Such participant and new employer shall notify the
1985	division of the identity of the new employer on forms required
1986	by the division.
1987	c.  The new employer shall acknowledge, in writing, the
1988	participant's DROP termination date, which may be extended but
1989	not beyond the maximum participation period provided in
1990	subparagraph (b)1., shall acknowledge liability for any
1991	additional retirement contributions and interest required if the
1992	participant fails to timely terminate employment, and is subject
1993	to the adjustment required in sub-subparagraph (c)5.d.
1994	6.  Effective July 1, 2001, for instructional personnel as
1995	defined in s. 1012.01(2), election to participate in DROP may be
1996	made at any time following the date on which the member first
1997	reaches normal retirement date. The member shall advise his or
1998	her employer and the division in writing of the date on which
1999	DROP begins. When establishing eligibility of the member to
2000	participate in DROP for the 60-month participation period
2001	provided in subparagraph (b)1., the member may elect to include
2002	or exclude any optional service credit purchased by the member
2003	from the total service used to establish the normal retirement
2004	date. A member who has dual normal retirement dates is eligible
2005	to elect to participate in either class.
2006	7.  The effective date of DROP participation of a DROP
2007	participant is prior to July 1, 2011.
2008	(l)  Closure of program to new participants.-Effective July
2009	1, 2011, DROP is closed to new participants. Only members whose
2010	DROP effective date is prior to July 1, 2011, may participate in
2011	DROP.
2012	Section 13.  Subsection (1) of section 121.121, Florida
2013	Statutes, is amended to read:
2014	121.121  Authorized leaves of absence.-
2015	(1)  A member may purchase creditable service for up to 2
2016	work years of authorized leaves of absence, including any leaves
2017	of absence covered under the Family Medical Leave Act, if:
2018	(a)  The member has completed a minimum of 6 years of
2019	creditable service, excluding periods for which a leave of
2020	absence was authorized;
2021	(b)  The leave of absence is authorized in writing by the
2022	employer of the member and approved by the administrator;
2023	(c)  The member returns to active employment performing
2024	service with a Florida Retirement System employer in a regularly
2025	established position immediately upon termination of the leave
2026	of absence and remains on the employer's payroll for 1 calendar
2027	month, except that a member who retires on disability while on a
2028	medical leave of absence may shall not be required to return to
2029	employment. A member whose work year is less than 12 months and
2030	whose leave of absence terminates between school years is
2031	eligible to receive credit for the leave of absence if as long
2032	as he or she returns to the employment of his or her employer at
2033	the beginning of the next school year and remains on the
2034	employer's payroll for 1 calendar month; and
2035	(d)  The member makes the required contributions for
2036	service credit during the leave of absence, which shall be 8
2037	percent until January 1, 1975, and 9 percent thereafter of his
2038	or her rate of monthly compensation in effect immediately prior
2039	to the commencement of such leave for each month of such period,
2040	plus 4 percent interest until July 1, 1975, and 6.5 percent
2041	interest thereafter on such contributions, compounded annually
2042	each June 30 from the due date of the contribution to date of
2043	payment. Effective July 1, 1980, any leave of absence purchased
2044	pursuant to this section shall be at the contribution rates
2045	specified in s. 121.071 or s. 121.71 in effect at the time the
2046	leave is granted for the class of membership from which the
2047	leave of absence was granted; however, any member who purchased
2048	leave-of-absence credit prior to July 1, 1980, for a leave of
2049	absence from a position in a class other than the regular
2050	membership class, may pay the appropriate additional
2051	contributions plus compound interest thereon and receive
2052	creditable service for such leave of absence in the membership
2053	class from which the member was granted the leave of absence.
2054
2055	Effective July 1, 2011, any leave of absence purchased by the
2056	member pursuant to this section shall be at the employee and
2057	employer contribution rates specified in s. 121.71 in effect
2058	during the leave for the class of membership from which the
2059	leave of absence was granted.
2060	Section 14.  Section 121.125, Florida Statutes, is amended
2061	to read:
2062	121.125  Credit for workers' compensation payment periods.-
2063	A member of the retirement system created by this chapter who
2064	has been eligible or becomes eligible to receive workers'
2065	compensation payments for an injury or illness occurring during
2066	his or her employment while a member of any state retirement
2067	system shall, upon return to active employment with a covered
2068	employer for 1 calendar month or upon approval for disability
2069	retirement in accordance with s. 121.091(4), receive full
2070	retirement credit for the period prior to such return to active
2071	employment or disability retirement for which the workers'
2072	compensation payments were received. However, a no member may
2073	not receive retirement credit for any such period occurring
2074	after the earlier of the date of maximum medical improvement as
2075	defined in s. 440.02 or the date termination has occurred as
2076	defined in s. 121.021(39). The employer of record at the time of
2077	the worker's compensation injury or illness shall make the
2078	required employee and employer retirement contributions based on
2079	the member's rate of monthly compensation immediately prior to
2080	his or her receiving workers' compensation payments for
2081	retirement credit received by the member. The employer of record
2082	at the time of the workers' compensation injury or illness shall
2083	be assessed by the division a penalty of 1 percent of the
2084	contributions on all contributions not paid on the first payroll
2085	report after the member becomes eligible to receive credit. This
2086	delinquent assessment may not be waived.
2087	Section 15.  Section 121.161, Florida Statutes, is
2088	reenacted to read:
2089	121.161  References to other laws include amendments.-
2090	References in this chapter to state or federal laws or
2091	agreements are intended to include such laws as they now exist
2092	or may hereafter be amended.
2093	Section 16.  Paragraphs (g) and (i) of subsection (3),
2094	paragraph (a) of subsection (4), and subsection (5) of section
2095	121.35, Florida Statutes, are amended to read:
2096	121.35  Optional retirement program for the State
2097	University System.-
2098	(3)  ELECTION OF OPTIONAL PROGRAM.-
2099	(g)  An eligible employee who is a member of the Florida
2100	Retirement System at the time of election to participate in the
2101	optional retirement program shall retain all retirement service
2102	credit earned under the Florida Retirement System, at the rate
2103	earned. No Additional service credit in the Florida Retirement
2104	System may not shall be earned while the employee participates
2105	in the optional program, and nor shall the employee is not be
2106	eligible for disability retirement under the Florida Retirement
2107	System. An eligible employee may transfer from the Florida
2108	Retirement System to his or her accounts under the State
2109	University System Optional Retirement Program a sum representing
2110	the present value of the employee's accumulated benefit
2111	obligation under the defined benefit program of the Florida
2112	Retirement System pension plan for any service credit accrued
2113	from the employee's first eligible transfer date to the optional
2114	retirement program through the actual date of such transfer, if
2115	such service credit was earned in the period from July 1, 1984,
2116	through December 31, 1992. The present value of the employee's
2117	accumulated benefit obligation shall be calculated as described
2118	in s. 121.4501(3)(c)2. Upon such transfer, all such service
2119	credit previously earned under the defined benefit program of
2120	the Florida Retirement System pension plan during this period is
2121	shall be nullified for purposes of entitlement to a future
2122	benefit under the defined benefit program of the Florida
2123	Retirement System pension plan.
2124	(i)  Effective January 1, 2008, through December 31, 2008,
2125	except for an employee who is a mandatory participant of the
2126	State University System Optional Retirement Program, an employee
2127	who has elected to participate in the State University System
2128	Optional Retirement Program shall have one opportunity, at the
2129	employee's discretion, to choose to transfer from this program
2130	to the defined benefit program of the Florida Retirement System
2131	pension plan or to the investment plan Public Employee Optional
2132	Retirement Program, subject to the terms of the applicable
2133	contracts of the State University System Optional Retirement
2134	Program.
2135	1.  If the employee chooses to move to the investment plan
2136	Public Employee Optional Retirement Program, any contributions,
2137	interest, and earnings creditable to the employee under the
2138	State University System Optional Retirement Program must shall
2139	be retained by the employee in the State University System
2140	Optional Retirement Program, and the applicable provisions of s.
2141	121.4501(4) shall govern the election.
2142	2.  If the employee chooses to move to the pension plan
2143	defined benefit program of the Florida Retirement System, the
2144	employee shall receive service credit equal to his or her years
2145	of service under the State University System Optional Retirement
2146	Program.
2147	a.  The cost for such credit must be in shall be an amount
2148	representing the actuarial accrued liability for the affected
2149	period of service. The cost must shall be calculated using the
2150	discount rate and other relevant actuarial assumptions that were
2151	used to value the Florida Retirement System pension defined
2152	benefit plan liabilities in the most recent actuarial valuation.
2153	The calculation must shall include any service already
2154	maintained under the pension defined benefit plan in addition to
2155	the years under the State University System Optional Retirement
2156	Program. The actuarial accrued liability of any service already
2157	maintained under the pension defined benefit plan must shall be
2158	applied as a credit to total cost resulting from the
2159	calculation. The division must shall ensure that the transfer
2160	sum is prepared using a formula and methodology certified by an
2161	enrolled actuary.
2162	b.  The employee must transfer from his or her State
2163	University System Optional Retirement Program account, and from
2164	other employee moneys as necessary, a sum representing the
2165	actuarial accrued liability immediately following the time of
2166	such movement, determined assuming that attained service equals
2167	the sum of service in the pension plan defined benefit program
2168	and service in the State University System Optional Retirement
2169	Program.
2170	(4)  CONTRIBUTIONS.-
2171	(a)  Through June 30, 2001, each employer shall contribute
2172	on behalf of each participant in the optional retirement program
2173	an amount equal to the normal cost portion of the employer
2174	retirement contribution which would be required if the
2175	participant were a regular member of the Florida Retirement
2176	System pension plan defined benefit program, plus the portion of
2177	the contribution rate required in s. 112.363(8) that would
2178	otherwise be assigned to the Retiree Health Insurance Subsidy
2179	Trust Fund. Effective July 1, 2001, each employer shall
2180	contribute on behalf of each participant in the optional program
2181	an amount equal to 10.43 percent of the participant's gross
2182	monthly compensation. The department shall deduct an amount
2183	approved by the Legislature to provide for the administration of
2184	this program. The payment of the contributions to the optional
2185	program which is required by this paragraph for each participant
2186	shall be made by the employer to the department, which shall
2187	forward the contributions to the designated company or companies
2188	contracting for payment of benefits for the participant under
2189	the program. However, such contributions paid on behalf of an
2190	employee described in paragraph (3)(c) shall not be forwarded to
2191	a company and shall not begin to accrue interest until the
2192	employee has executed a contract and notified the department.
2193	(5)  BENEFITS.-
2194	(a)  Benefits are payable under the optional retirement
2195	program only to vested participants in the program, or their
2196	beneficiaries as designated by the participant in the contract
2197	with a provider company, and such benefits shall be paid only by
2198	the designated company in accordance with s. 403(b) of the
2199	Internal Revenue Code and the terms of the annuity contract or
2200	contracts applicable to the participant. Benefits accrue in
2201	individual accounts that are participant-directed, portable, and
2202	funded by employer contributions and the earnings thereon. The
2203	participant must be terminated for 3 calendar months from all
2204	employment relationships with all Florida Retirement System
2205	employers, as provided in s. 121.021(39), to begin receiving the
2206	employer-funded benefit. Benefits funded by employer
2207	contributions are payable in accordance with the following terms
2208	and conditions:
2209	1.  Benefits shall be paid only to a participant, to his or
2210	her beneficiaries, or to his or her estate, as designated by the
2211	participant.
2212	2.  Benefits shall be paid by the provider company or
2213	companies in accordance with the law, the provisions of the
2214	contract, and any applicable department rule or policy.
2215	3.  In the event of a participant's death, moneys
2216	accumulated by, or on behalf of, the participant, less
2217	withholding taxes remitted to the Internal Revenue Service, if
2218	any, shall be distributed to the participant's designated
2219	beneficiary or beneficiaries, or to the participant's estate, as
2220	if the participant retired on the date of death, as provided in
2221	paragraph (d) (c). No other death benefits are available to
2222	survivors of participants under the optional retirement program
2223	except for such benefits, or coverage for such benefits, as are
2224	separately afforded by the employer, at the employer's
2225	discretion.
2226	(b)  Under the optional retirement program, benefits are
2227	not payable for employee hardships, unforeseeable emergencies,
2228	loans, medical expenses, educational expenses, purchase of a
2229	principal residence, payments necessary to prevent eviction or
2230	foreclosure on an employee's principal residence, or any other
2231	reason prior to termination from all employment relationships
2232	with participating employers, as provided in s. 121.021(39).
2233	(c)(b)  Upon receipt by the provider company of a properly
2234	executed application for distribution of benefits, the total
2235	accumulated benefit shall be payable to the participant, as:
2236	1.  A lump-sum distribution to the participant;
2237	2.  A lump-sum direct rollover distribution whereby all
2238	accrued benefits, plus interest and investment earnings, are
2239	paid from the participant's account directly to an eligible
2240	retirement plan, as defined in s. 402(c)(8)(B) of the Internal
2241	Revenue Code, on behalf of the participant;
2242	3.  Periodic distributions;
2243	4.  A partial lump-sum payment whereby a portion of the
2244	accrued benefit is paid to the participant and the remaining
2245	amount is transferred to an eligible retirement plan, as defined
2246	in s. 402(c)(8)(B) of the Internal Revenue Code, on behalf of
2247	the participant; or
2248	5.  Such other distribution options as are provided for in
2249	the participant's optional retirement program contract.
2250	(d)(c)  Survivor benefits shall be payable as:
2251	1.  A lump-sum distribution payable to the beneficiaries or
2252	to the deceased participant's estate;
2253	2.  An eligible rollover distribution on behalf of the
2254	surviving spouse of a deceased participant, whereby all accrued
2255	benefits, plus interest and investment earnings, are paid from
2256	the deceased participant's account directly to an eligible
2257	retirement plan, as described in s. 402(c)(8)(B) of the Internal
2258	Revenue Code, on behalf of the surviving spouse;
2259	3.  Such other distribution options as are provided for in
2260	the participant's optional retirement program contract; or
2261	4.  A partial lump-sum payment whereby a portion of the
2262	accrued benefit is paid to the deceased participant's surviving
2263	spouse or other designated beneficiaries, less withholding taxes
2264	remitted to the Internal Revenue Service, if any, and the
2265	remaining amount is transferred directly to an eligible
2266	retirement plan, as described in s. 402(c)(8)(B) of the Internal
2267	Revenue Code, on behalf of the surviving spouse. The proportions
2268	must be specified by the participant or the surviving
2269	beneficiary.
2270
2271	This paragraph does not abrogate other applicable provisions of
2272	state or federal law providing payment of death benefits.
2273	(e)(d)  The benefits payable to any person under the
2274	optional retirement program, and any contribution accumulated
2275	under such program, shall not be subject to assignment,
2276	execution, or attachment or to any legal process whatsoever.
2277	(f)(e)  A participant who chooses to receive his or her
2278	benefits must be terminated for 3 calendar months to be eligible
2279	to receive benefits funded by employer contributions. A
2280	participant upon termination as defined in s. 121.021 must
2281	notify the provider company of the date he or she wishes
2282	benefits funded by required employee and employer contributions
2283	to begin and must meet termination as defined in s. 121.021
2284	after the initial benefit payment or distribution. Benefits may
2285	be deferred until the participant chooses to make such
2286	application.
2287	(g)(f)  Benefits funded by the participant's voluntary
2288	personal contributions may be paid out at any time and in any
2289	form within the limits provided in the contract between the
2290	participant and his or her provider company. The participant
2291	shall notify the provider company regarding the date and
2292	provisions under which he or she wants to receive the employee-
2293	funded portion of the plan.
2294	(h)(g)  For purposes of this section, "retiree" means a
2295	former participant of the optional retirement program who has
2296	terminated employment and has taken a distribution as provided
2297	in this subsection, except for a mandatory distribution of a de
2298	minimis account authorized by the department.
2299	Section 17.  Section 121.4501, Florida Statutes, is amended
2300	to read:
2301	121.4501  Florida Retirement System Investment Plan Public
2302	Employee Optional Retirement Program.-
2303	(1)  The Trustees of the State Board of Administration
2304	shall establish a an optional defined contribution retirement
2305	program called the "Florida Retirement System Investment Plan"
2306	or "investment plan" for members of the Florida Retirement
2307	System under which retirement benefits will be provided for
2308	eligible employees who elect to participate in the program. The
2309	retirement benefits to be provided for or on behalf of
2310	participants in such optional retirement program shall be
2311	provided through member-directed employee-directed investments,
2312	in accordance with s. 401(a) of the Internal Revenue Code and
2313	its related regulations. The employer and members employers
2314	shall make contributions contribute, as provided in this section
2315	and, ss. 121.571, and 121.71, to the Florida Retirement System
2316	Investment Plan Public Employee Optional Retirement Program
2317	Trust Fund toward the funding of such optional benefits.
2318	(2)  DEFINITIONS.-As used in this part, the term:
2319	(a)  "Approved provider" or "provider" means a private
2320	sector company that is selected and approved by the state board
2321	to offer one or more investment products or services to the
2322	investment plan optional retirement program. The term includes a
2323	bundled provider that offers members participants a range of
2324	individually allocated or unallocated investment products and
2325	may offer a range of administrative and customer services, which
2326	may include accounting and administration of individual member
2327	participant benefits and contributions; individual member
2328	participant recordkeeping; asset purchase, control, and
2329	safekeeping; direct execution of the member's participant's
2330	instructions as to asset and contribution allocation;
2331	calculation of daily net asset values; direct access to member
2332	participant account information; periodic reporting to members
2333	participants, at least quarterly, on account balances and
2334	transactions; guidance, advice, and allocation services directly
2335	relating to the provider's own investment options or products,
2336	but only if the bundled provider complies with the standard of
2337	care of s. 404(a)(1)(A-B) of the Employee Retirement Income
2338	Security Act of 1974 (ERISA), and if providing such guidance,
2339	advice, or allocation services does not constitute a prohibited
2340	transaction under s. 4975(c)(1) of the Internal Revenue Code or
2341	s. 406 of ERISA, notwithstanding that such prohibited
2342	transaction provisions do not apply to the optional retirement
2343	program; a broad array of distribution options; asset
2344	allocation; and retirement counseling and education. Private
2345	sector companies include investment management companies,
2346	insurance companies, depositories, and mutual fund companies.
2347	(b)  "Average monthly compensation" means one-twelfth of
2348	average final compensation as defined in s. 121.021.
2349	(c)  "Covered employment" means employment in a regularly
2350	established position as defined in s. 121.021.
2351	(d)(e)  "Division" means the Division of Retirement within
2352	the department.
2353	(e)(f)  "Electronic means" means by telephone, if the
2354	required information is received on a recorded line, or through
2355	Internet access, if the required information is captured online.
2356	(f)(g)  "Eligible employee" means an officer or employee,
2357	as defined in s. 121.021, who:
2358	1.  Is a member of, or is eligible for membership in, the
2359	Florida Retirement System, including any renewed member of the
2360	Florida Retirement System initially enrolled before July 1,
2361	2010; or
2362	2.  Participates in, or is eligible to participate in, the
2363	Senior Management Service Optional Annuity Program as
2364	established under s. 121.055(6), the State Community College
2365	System Optional Retirement Program as established under s.
2366	121.051(2)(c), or the State University System Optional
2367	Retirement Program established under s. 121.35.
2368
2369	The term does not include any member participating in the
2370	Deferred Retirement Option Program established under s.
2371	121.091(13), a retiree of a state-administered retirement system
2372	initially reemployed on or after July 1, 2010, or a mandatory
2373	participant of the State University System Optional Retirement
2374	Program established under s. 121.35.
2375	(g)(h)  "Employer" means an employer, as defined in s.
2376	121.021, of an eligible employee.
2377	(h)(i)  "Florida Retirement System Investment Plan" or
2378	"investment plan" "Optional retirement program" or "optional
2379	program" means the defined contribution program Public Employee
2380	Optional Retirement Program established under this part.
2381	(i)(d)  "Florida Retirement System Pension Plan" or
2382	"pension plan" means the defined benefit program of the Florida
2383	Retirement System administered under part I of this chapter.
2384	"Defined benefit program" means the defined benefit program of
2385	the Florida Retirement System administered under part I of this
2386	chapter.
2387	(j)  "Participant," "member," or "employee" means an
2388	eligible employee who enrolls in the investment plan optional
2389	program as provided in subsection (4), or a terminated Deferred
2390	Retirement Option Program member participant as described in
2391	subsection (21), or a beneficiary or alternate payee.
2392	(k)  "Participant contributions," "member contributions,"
2393	or "employee contributions" mean the sum of all amounts deducted
2394	from the salary of a member by his or her employer in accordance
2395	with s. 121.71(2) and credited to his or her individual account
2396	in the investment plan, plus any earnings on such amounts and
2397	any contributions specified in paragraph (5)(e).
2398	(l)(k)  "Retiree" means a former member participant of the
2399	investment plan optional retirement program who has terminated
2400	employment and has taken any a distribution of vested employee
2401	or employer contributions as provided in s. 121.591, except for
2402	a mandatory distribution of a de minimis account authorized by
2403	the state board or a minimum required distribution provided by
2404	s. 401(a)(9) of the Internal Revenue Code.
2405	(m)(l)  "Vested" or "vesting" means the guarantee that a
2406	member participant is eligible to receive a retirement benefit
2407	upon completion of the required years of service under the
2408	investment plan optional retirement program.
2409	(3)  ELIGIBILITY; RETIREMENT SERVICE CREDIT; TRANSFER OF
2410	BENEFITS.-
2411	(a)  Participation in the Public Employee Optional
2412	Retirement Program is limited to eligible employees.
2413	Participation in the optional retirement program is in lieu of
2414	participation in the defined benefit program of the Florida
2415	Retirement System.
2416	(a)(b)  An eligible employee who is employed in a regularly
2417	established position by a state employer on June 1, 2002; by a
2418	district school board employer on September 1, 2002; or by a
2419	local employer on December 1, 2002, and who is a member of the
2420	pension plan defined benefit retirement program of the Florida
2421	Retirement System at the time of his or her election to
2422	participate in the investment plan Public Employee Optional
2423	Retirement Program shall retain all retirement service credit
2424	earned under the pension plan defined benefit retirement program
2425	of the Florida Retirement System as credited under the system
2426	and is shall be entitled to a deferred benefit upon termination,
2427	if eligible under the system. However, election to participate
2428	in the investment plan Public Employee Optional Retirement
2429	Program terminates the active membership of the employee in the
2430	pension plan defined benefit program of the Florida Retirement
2431	System, and the service of a member participant in the
2432	investment plan is Public Employee Optional Retirement Program
2433	shall not be creditable under the pension plan defined benefit
2434	retirement program of the Florida Retirement System for purposes
2435	of benefit accrual but is creditable shall be credited for
2436	purposes of vesting.
2437	(b)(c)1.  Notwithstanding paragraph (a), an (b), each
2438	eligible employee who elects to participate in the investment
2439	plan Public Employee Optional Retirement Program and establishes
2440	one or more individual member participant accounts under the
2441	optional program may elect to transfer to the investment plan
2442	optional program a sum representing the present value of the
2443	employee's accumulated benefit obligation under the pension plan
2444	defined benefit retirement program of the Florida Retirement
2445	System. Upon such transfer, all service credit previously earned
2446	under the pension plan is defined benefit program of the Florida
2447	Retirement System shall be nullified for purposes of entitlement
2448	to a future benefit under the pension plan defined benefit
2449	program of the Florida Retirement System. A member may not
2450	transfer participant is precluded from transferring the
2451	accumulated benefit obligation balance from the pension plan
2452	after the time defined benefit program upon the expiration of
2453	the period for enrolling afforded to enroll in the investment
2454	plan has expired optional program.
2455	1.2.  For purposes of this subsection, the present value of
2456	the member's accumulated benefit obligation is based upon the
2457	member's estimated creditable service and estimated average
2458	final compensation under the pension plan defined benefit
2459	program, subject to recomputation under subparagraph 2. 3. For
2460	state employees enrolling under subparagraph (4)(a)1., initial
2461	estimates shall will be based upon creditable service and
2462	average final compensation as of midnight on June 30, 2002; for
2463	district school board employees enrolling under subparagraph
2464	(4)(b)1., initial estimates shall will be based upon creditable
2465	service and average final compensation as of midnight on
2466	September 30, 2002; and for local government employees enrolling
2467	under subparagraph (4)(c)1., initial estimates shall will be
2468	based upon creditable service and average final compensation as
2469	of midnight on December 31, 2002. The dates respectively
2470	specified are above shall be construed as the "estimate date"
2471	for these employees. The actuarial present value of the
2472	employee's accumulated benefit obligation shall be based on the
2473	following:
2474	a.  The discount rate and other relevant actuarial
2475	assumptions used to value the Florida Retirement System Trust
2476	Fund at the time the amount to be transferred is determined,
2477	consistent with the factors provided in sub-subparagraphs b. and
2478	c.
2479	b.  A benefit commencement age, based on the member's
2480	estimated creditable service as of the estimate date.
2481	(I)  For a member initially enrolled before July 1, 2011,
2482	the benefit commencement age is shall be the younger of the
2483	following, but may shall not be younger than the member's age as
2484	of the estimate date:
2485	(A)(I)  Age 62; or
2486	(B)(II)  The age the member would attain if the member
2487	completed 30 years of service with an employer, assuming the
2488	member worked continuously from the estimate date, and
2489	disregarding any vesting requirement that would otherwise apply
2490	under the pension plan defined benefit program of the Florida
2491	Retirement System.
2492	(II)  For a member initially enrolled on or after July 1,
2493	2011, the benefit commencement age is the younger of the
2494	following, but may not be younger than the member's age as of
2495	the estimate date:
2496	(A)  Age 65; or
2497	(B)  The age the member would attain if the member
2498	completed 33 years of service with an employer, assuming the
2499	member worked continuously from the estimate date, and
2500	disregarding any vesting requirement that would otherwise apply
2501	under the pension plan.
2502	c.(I)  For members of the Special Risk Class and for
2503	members of the Special Risk Administrative Support Class
2504	entitled to retain the special risk normal retirement date,
2505	initially enrolled before July 1, 2011, the benefit commencement
2506	age is shall be the younger of the following, but may shall not
2507	be younger than the member's age as of the estimate date:
2508	(A)(I)  Age 55; or
2509	(B)(II)  The age the member would attain if the member
2510	completed 25 years of service with an employer, assuming the
2511	member worked continuously from the estimate date, and
2512	disregarding any vesting requirement that would otherwise apply
2513	under the pension plan defined benefit program of the Florida
2514	Retirement System.
2515	(II)  For members of the Special Risk Class and for members
2516	of the Special Risk Administrative Support Class entitled to
2517	retain the special risk normal retirement date, initially
2518	enrolled on or after July 1, 2011, the benefit commencement age
2519	is the younger of the following, but may not be younger than the
2520	member's age as of the estimate date:
2521	(A)  Age 60; or
2522	(B)  The age the member would attain if the member
2523	completed 30 years of service with an employer, assuming the
2524	member worked continuously from the estimate date, and
2525	disregarding any vesting requirement that would otherwise apply
2526	under the pension plan.
2527	d.  The calculation must shall disregard vesting
2528	requirements and early retirement reduction factors that would
2529	otherwise apply under the pension plan defined benefit
2530	retirement program.
2531	2.3.  For each member participant who elects to transfer
2532	moneys from the pension plan defined benefit program to his or
2533	her account in the investment plan optional program, the
2534	division shall recompute the amount transferred under
2535	subparagraph 1. within 2. not later than 60 days after the
2536	actual transfer of funds based upon the member's participant's
2537	actual creditable service and actual final average compensation
2538	as of the initial date of participation in the investment plan
2539	optional program. If the recomputed amount differs from the
2540	amount transferred under subparagraph 2. by $10 or more, the
2541	division shall:
2542	a.  Transfer, or cause to be transferred, from the Florida
2543	Retirement System Trust Fund to the member's participant's
2544	account in the optional program the excess, if any, of the
2545	recomputed amount over the previously transferred amount
2546	together with interest from the initial date of transfer to the
2547	date of transfer under this subparagraph, based upon the
2548	effective annual interest equal to the assumed return on the
2549	actuarial investment which was used in the most recent actuarial
2550	valuation of the system, compounded annually.
2551	b.  Transfer, or cause to be transferred, from the member's
2552	participant's account to the Florida Retirement System Trust
2553	Fund the excess, if any, of the previously transferred amount
2554	over the recomputed amount, together with interest from the
2555	initial date of transfer to the date of transfer under this
2556	subparagraph, based upon 6 percent effective annual interest,
2557	compounded annually, pro rata based on the member's
2558	participant's allocation plan.
2559	3.  If contribution adjustments are made as a result of
2560	employer errors or corrections, including plan corrections,
2561	following recomputation of the amount transferred under
2562	subparagraph 1., the member is entitled to the additional
2563	contributions or is responsible for returning any excess
2564	contributions resulting from the correction. However, any return
2565	of such erroneous excess pretax contribution by the plan must be
2566	made within the period allowed by the Internal Revenue Service.
2567	The present value of the member's accumulated benefit obligation
2568	shall not be recalculated.
2569	4.  As directed by the member participant, the state board
2570	shall transfer or cause to be transferred the appropriate
2571	amounts to the designated accounts within. The board shall
2572	establish transfer procedures by rule, but the actual transfer
2573	shall not be later than 30 days after the effective date of the
2574	member's participation in the investment plan optional program
2575	unless the major financial markets for securities available for
2576	a transfer are seriously disrupted by an unforeseen event that
2577	which also causes the suspension of trading on any national
2578	securities exchange in the country where the securities were
2579	issued. In that event, the such 30-day period of time may be
2580	extended by a resolution of the state board trustees. Transfers
2581	are not commissionable or subject to other fees and may be in
2582	the form of securities or cash, as determined by the state
2583	board. Such securities are shall be valued as of the date of
2584	receipt in the member's participant's account.
2585	5.  If the state board or the division receives
2586	notification from the United States Internal Revenue Service
2587	that this paragraph or any portion of this paragraph will cause
2588	the retirement system, or a portion thereof, to be disqualified
2589	for tax purposes under the Internal Revenue Code, then the
2590	portion that will cause the disqualification does not apply.
2591	Upon such notice, the state board and the division shall notify
2592	the presiding officers of the Legislature.
2593	(4)  PARTICIPATION; ENROLLMENT.-
2594	(a)1.  With respect to an eligible employee who is employed
2595	in a regularly established position on June 1, 2002, by a state
2596	employer:
2597	a.  Any such employee may elect to participate in the
2598	investment plan Public Employee Optional Retirement Program in
2599	lieu of retaining his or her membership in the pension plan
2600	defined benefit program of the Florida Retirement System. The
2601	election must be made in writing or by electronic means and must
2602	be filed with the third-party administrator by August 31, 2002,
2603	or, in the case of an active employee who is on a leave of
2604	absence on April 1, 2002, by the last business day of the 5th
2605	month following the month the leave of absence concludes. This
2606	election is irrevocable, except as provided in paragraph (g)
2607	(e). Upon making such election, the employee shall be enrolled
2608	as a member participant of the investment plan Public Employee
2609	Optional Retirement Program, the employee's membership in the
2610	Florida Retirement System shall be governed by the provisions of
2611	this part, and the employee's membership in the pension plan
2612	defined benefit program of the Florida Retirement System shall
2613	terminate. The employee's enrollment in the investment plan
2614	Public Employee Optional Retirement Program shall be effective
2615	the first day of the month for which a full month's employer
2616	contribution is made to the investment plan optional program.
2617	b.  Any such employee who fails to elect to participate in
2618	the investment plan Public Employee Optional Retirement Program
2619	within the prescribed time period is deemed to have elected to
2620	retain membership in the pension plan defined benefit program of
2621	the Florida Retirement System, and the employee's option to
2622	elect to participate in the investment plan optional program is
2623	forfeited.
2624	2.  With respect to employees who become eligible to
2625	participate in the investment plan Public Employee Optional
2626	Retirement Program by reason of employment in a regularly
2627	established position with a state employer commencing after
2628	April 1, 2002:
2629	a.  Any such employee shall, by default, be enrolled in the
2630	pension plan defined benefit retirement program of the Florida
2631	Retirement System at the commencement of employment, and may, by
2632	the last business day of the 5th month following the employee's
2633	month of hire, elect to participate in the investment plan
2634	Public Employee Optional Retirement Program. The employee's
2635	election must be made in writing or by electronic means and must
2636	be filed with the third-party administrator. The election to
2637	participate in the investment plan optional program is
2638	irrevocable, except as provided in paragraph (g) (e).
2639	b.  If the employee files such election within the
2640	prescribed time period, enrollment in the investment plan is
2641	optional program shall be effective on the first day of
2642	employment. The employer retirement contributions paid through
2643	the month of the employee plan change shall be transferred to
2644	the investment optional program, and, effective the first day of
2645	the next month, the employer and participant must shall pay the
2646	applicable contributions based on the employee membership class
2647	in the optional program.
2648	c.  An Any such employee who fails to elect to participate
2649	in the investment plan Public Employee Optional Retirement
2650	Program within the prescribed time period is deemed to have
2651	elected to retain membership in the pension plan defined benefit
2652	program of the Florida Retirement System, and the employee's
2653	option to elect to participate in the investment plan optional
2654	program is forfeited.
2655	3.  With respect to employees who become eligible to
2656	participate in the investment plan Public Employee Optional
2657	Retirement Program pursuant to s. 121.051(2)(c)3. or s.
2658	121.35(3)(i), the any such employee may elect to participate in
2659	the investment plan Public Employee Optional Retirement Program
2660	in lieu of retaining his or her membership participation in the
2661	State Community College System Optional Retirement Program or
2662	the State University System Optional Retirement Program. The
2663	election must be made in writing or by electronic means and must
2664	be filed with the third-party administrator. This election is
2665	irrevocable, except as provided in paragraph (g) (e). Upon
2666	making such election, the employee shall be enrolled as a member
2667	in participant of the investment plan Public Employee Optional
2668	Retirement Program, the employee's membership in the Florida
2669	Retirement System shall be governed by the provisions of this
2670	part, and the employee's participation in the State Community
2671	College System Optional Retirement Program or the State
2672	University System Optional Retirement Program shall terminate.
2673	The employee's enrollment in the investment plan is Public
2674	Employee Optional Retirement Program shall be effective on the
2675	first day of the month for which a full month's employer and
2676	employee contribution is made to the investment plan optional
2677	program.
2678	4.  For purposes of this paragraph, "state employer" means
2679	any agency, board, branch, commission, community college,
2680	department, institution, institution of higher education, or
2681	water management district of the state, which participates in
2682	the Florida Retirement System for the benefit of certain
2683	employees.
2684	(b)1.  With respect to an eligible employee who is employed
2685	in a regularly established position on September 1, 2002, by a
2686	district school board employer:
2687	a.  Any such employee may elect to participate in the
2688	investment plan Public Employee Optional Retirement Program in
2689	lieu of retaining his or her membership in the pension plan
2690	defined benefit program of the Florida Retirement System. The
2691	election must be made in writing or by electronic means and must
2692	be filed with the third-party administrator by November 30, or,
2693	in the case of an active employee who is on a leave of absence
2694	on July 1, 2002, by the last business day of the 5th month
2695	following the month the leave of absence concludes. This
2696	election is irrevocable, except as provided in paragraph (g)
2697	(e). Upon making such election, the employee shall be enrolled
2698	as a member participant of the investment plan Public Employee
2699	Optional Retirement Program, the employee's membership in the
2700	Florida Retirement System shall be governed by the provisions of
2701	this part, and the employee's membership in the pension plan
2702	defined benefit program of the Florida Retirement System shall
2703	terminate. The employee's enrollment in the investment plan
2704	Public Employee Optional Retirement Program shall be effective
2705	the first day of the month for which a full month's employer
2706	contribution is made to the investment optional program.
2707	b.  Any such employee who fails to elect to participate in
2708	the investment plan Public Employee Optional Retirement Program
2709	within the prescribed time period is deemed to have elected to
2710	retain membership in the pension plan defined benefit program of
2711	the Florida Retirement System, and the employee's option to
2712	elect to participate in the investment plan optional program is
2713	forfeited.
2714	2.  With respect to employees who become eligible to
2715	participate in the investment plan Public Employee Optional
2716	Retirement Program by reason of employment in a regularly
2717	established position with a district school board employer
2718	commencing after July 1, 2002:
2719	a.  Any such employee shall, by default, be enrolled in the
2720	pension plan defined benefit retirement program of the Florida
2721	Retirement System at the commencement of employment, and may, by
2722	the last business day of the 5th month following the employee's
2723	month of hire, elect to participate in the investment plan
2724	Public Employee Optional Retirement Program. The employee's
2725	election must be made in writing or by electronic means and must
2726	be filed with the third-party administrator. The election to
2727	participate in the investment plan optional program is
2728	irrevocable, except as provided in paragraph (g) (e).
2729	b.  If the employee files such election within the
2730	prescribed time period, enrollment in the investment plan
2731	optional program shall be effective on the first day of
2732	employment. The employer retirement contributions paid through
2733	the month of the employee plan change shall be transferred to
2734	the investment plan optional program, and, effective the first
2735	day of the next month, the employer shall pay the applicable
2736	contributions based on the employee membership class in the
2737	investment plan optional program.
2738	c.  Any such employee who fails to elect to participate in
2739	the investment plan Public Employee Optional Retirement Program
2740	within the prescribed time period is deemed to have elected to
2741	retain membership in the pension plan defined benefit program of
2742	the Florida Retirement System, and the employee's option to
2743	elect to participate in the investment plan optional program is
2744	forfeited.
2745	3.  For purposes of this paragraph, "district school board
2746	employer" means any district school board that participates in
2747	the Florida Retirement System for the benefit of certain
2748	employees, or a charter school or charter technical career
2749	center that participates in the Florida Retirement System as
2750	provided in s. 121.051(2)(d).
2751	(c)1.  With respect to an eligible employee who is employed
2752	in a regularly established position on December 1, 2002, by a
2753	local employer:
2754	a.  Any such employee may elect to participate in the
2755	investment plan Public Employee Optional Retirement Program in
2756	lieu of retaining his or her membership in the pension plan
2757	defined benefit program of the Florida Retirement System. The
2758	election must be made in writing or by electronic means and must
2759	be filed with the third-party administrator by February 28,
2760	2003, or, in the case of an active employee who is on a leave of
2761	absence on October 1, 2002, by the last business day of the 5th
2762	month following the month the leave of absence concludes. This
2763	election is irrevocable, except as provided in paragraph (g)
2764	(e). Upon making such election, the employee shall be enrolled
2765	as a participant of the investment plan Public Employee Optional
2766	Retirement Program, the employee's membership in the Florida
2767	Retirement System shall be governed by the provisions of this
2768	part, and the employee's membership in the pension plan defined
2769	benefit program of the Florida Retirement System shall
2770	terminate. The employee's enrollment in the investment plan
2771	Public Employee Optional Retirement Program shall be effective
2772	the first day of the month for which a full month's employer
2773	contribution is made to the investment plan optional program.
2774	b.  Any such employee who fails to elect to participate in
2775	the investment plan Public Employee Optional Retirement Program
2776	within the prescribed time period is deemed to have elected to
2777	retain membership in the pension plan defined benefit program of
2778	the Florida Retirement System, and the employee's option to
2779	elect to participate in the investment plan optional program is
2780	forfeited.
2781	2.  With respect to employees who become eligible to
2782	participate in the investment plan Public Employee Optional
2783	Retirement Program by reason of employment in a regularly
2784	established position with a local employer commencing after
2785	October 1, 2002:
2786	a.  Any such employee shall, by default, be enrolled in the
2787	pension plan defined benefit retirement program of the Florida
2788	Retirement System at the commencement of employment, and may, by
2789	the last business day of the 5th month following the employee's
2790	month of hire, elect to participate in the investment plan
2791	Public Employee Optional Retirement Program. The employee's
2792	election must be made in writing or by electronic means and must
2793	be filed with the third-party administrator. The election to
2794	participate in the investment plan optional program is
2795	irrevocable, except as provided in paragraph (g) (e).
2796	b.  If the employee files such election within the
2797	prescribed time period, enrollment in the investment plan
2798	optional program shall be effective on the first day of
2799	employment. The employer retirement contributions paid through
2800	the month of the employee plan change shall be transferred to
2801	the investment plan optional program, and, effective the first
2802	day of the next month, the employer shall pay the applicable
2803	contributions based on the employee membership class in the
2804	investment plan optional program.
2805	c.  Any such employee who fails to elect to participate in
2806	the investment plan Public Employee Optional Retirement Program
2807	within the prescribed time period is deemed to have elected to
2808	retain membership in the pension plan defined benefit program of
2809	the Florida Retirement System, and the employee's option to
2810	elect to participate in the investment plan optional program is
2811	forfeited.
2812	3.  For purposes of this paragraph, "local employer" means
2813	any employer not included in paragraph (a) or paragraph (b).
2814	(d)  Contributions available for self-direction by a member
2815	participant who has not selected one or more specific investment
2816	products shall be allocated as prescribed by the state board.
2817	The third-party administrator shall notify the member any such
2818	participant at least quarterly that the member participant
2819	should take an affirmative action to make an asset allocation
2820	among the investment optional program products.
2821	(e)  On or after July 1, 2011, a member of the pension plan
2822	who obtains a refund of employee contributions retains his or
2823	her prior plan choice upon return to employment in a regularly
2824	established position with a participating employer.
2825	(f)  A member of the investment plan who takes a
2826	distribution of any contributions from his or her investment
2827	plan account is considered a retiree. Upon reemployment in a
2828	regularly established position with a participating employer,
2829	the member returns as a new hire. A retiree who is initially
2830	reemployed on or after July 1, 2010, is not eligible for renewed
2831	membership.
2832	(g)(e)  After the period during which an eligible employee
2833	had the choice to elect the pension plan defined benefit program
2834	or the investment plan optional retirement program, or the month
2835	following the receipt of the eligible employee's plan election,
2836	if sooner, the employee shall have one opportunity, at the
2837	employee's discretion, to choose to move from the pension plan
2838	defined benefit program to the investment plan optional
2839	retirement program or from the investment plan optional
2840	retirement program to the pension plan defined benefit program.
2841	Eligible employees may elect to move between Florida Retirement
2842	System programs only if they are earning service credit in an
2843	employer-employee relationship consistent with s.
2844	121.021(17)(b), excluding leaves of absence without pay.
2845	Effective July 1, 2005, such elections are effective on the
2846	first day of the month following the receipt of the election by
2847	the third-party administrator and are not subject to the
2848	requirements regarding an employer-employee relationship or
2849	receipt of contributions for the eligible employee in the
2850	effective month, except when the election is received by the
2851	third-party administrator. This paragraph is contingent upon
2852	approval by from the Internal Revenue Service for including the
2853	choice described herein within the programs offered by the
2854	Florida Retirement System.
2855	1.  If the employee chooses to move to the investment plan
2856	optional retirement program, the applicable provisions of
2857	subsection (3) this section shall govern the transfer.
2858	2.  If the employee chooses to move to the pension plan
2859	defined benefit program, the employee must transfer from his or
2860	her investment plan optional retirement program account, and
2861	from other employee moneys as necessary, a sum representing the
2862	present value of that employee's accumulated benefit obligation
2863	immediately following the time of such movement, determined
2864	assuming that attained service equals the sum of service in the
2865	pension plan defined benefit program and service in the
2866	investment plan optional retirement program. Benefit
2867	commencement occurs on the first date the employee is eligible
2868	for unreduced benefits, using the discount rate and other
2869	relevant actuarial assumptions that were used to value the
2870	pension defined benefit plan liabilities in the most recent
2871	actuarial valuation. For any employee who, at the time of the
2872	second election, already maintains an accrued benefit amount in
2873	the pension plan defined benefit program, the then-present value
2874	of the accrued benefit shall be deemed part of the required
2875	transfer amount. The division shall ensure that the transfer sum
2876	is prepared using a formula and methodology certified by an
2877	enrolled actuary. A refund of any employee contributions or
2878	additional member payments made which exceed the employee
2879	contributions that would have accrued had the member remained in
2880	the pension plan and not transferred to the investment plan is
2881	not permitted.
2882	3.  Notwithstanding subparagraph 2., an employee who
2883	chooses to move to the pension plan defined benefit program and
2884	who became eligible to participate in the investment plan
2885	optional retirement program by reason of employment in a
2886	regularly established position with a state employer after June
2887	1, 2002; a district school board employer after September 1,
2888	2002; or a local employer after December 1, 2002, must transfer
2889	from his or her investment plan optional retirement program
2890	account, and from other employee moneys as necessary, a sum
2891	representing the employee's actuarial accrued liability. A
2892	refund of any employee contributions or additional participant
2893	payments made which exceed the employee contributions that would
2894	have accrued had the member remained in the pension plan and not
2895	transferred to the investment plan is not permitted.
2896	4.  An employee's ability to transfer from the pension plan
2897	defined benefit program to the investment plan optional
2898	retirement program pursuant to paragraphs (a)-(d), and the
2899	ability of a current employee to have an option to later
2900	transfer back into the pension plan defined benefit program
2901	under subparagraph 2., shall be deemed a significant system
2902	amendment. Pursuant to s. 121.031(4), any resulting unfunded
2903	liability arising from actual original transfers from the
2904	pension plan defined benefit program to the investment plan
2905	optional program must be amortized within 30 plan years as a
2906	separate unfunded actuarial base independent of the reserve
2907	stabilization mechanism defined in s. 121.031(3)(f). For the
2908	first 25 years, a direct amortization payment may not be
2909	calculated for this base. During this 25-year period, the
2910	separate base shall be used to offset the impact of employees
2911	exercising their second program election under this paragraph.
2912	It is the intent of the Legislature that The actuarial funded
2913	status of the pension plan will defined benefit program not be
2914	affected by such second program elections in any significant
2915	manner, after due recognition of the separate unfunded actuarial
2916	base. Following the initial 25-year period, any remaining
2917	balance of the original separate base shall be amortized over
2918	the remaining 5 years of the required 30-year amortization
2919	period.
2920	5.  If the employee chooses to transfer from the investment
2921	plan optional retirement program to the pension plan defined
2922	benefit program and retains an excess account balance in the
2923	investment plan optional program after satisfying the buy-in
2924	requirements under this paragraph, the excess may not be
2925	distributed until the member retires from the pension plan
2926	defined benefit program. The excess account balance may be
2927	rolled over to the pension plan defined benefit program and used
2928	to purchase service credit or upgrade creditable service in the
2929	pension plan that program.
2930	(5)  CONTRIBUTIONS.-
2931	(a)  The employee and Each employer shall make the required
2932	contributions to contribute on behalf of each participant in the
2933	investment plan based on a percentage of the employee's gross
2934	monthly compensation Public Employee Optional Retirement
2935	Program, as provided in part III of this chapter.
2936	(b)  Employee contributions shall be paid as provided in s.
2937	121.72(2).
2938	(c)  The state board, acting as plan fiduciary, shall
2939	ensure that all plan assets are held in a trust, pursuant to s.
2940	401 of the Internal Revenue Code. The fiduciary shall ensure
2941	that such said contributions are allocated as follows:
2942	1.  The employer and employee contribution portion
2943	earmarked for member participant accounts shall be used to
2944	purchase interests in the appropriate investment vehicles for
2945	the accounts of each participant as specified by the member
2946	participant, or in accordance with paragraph (4)(d).
2947	2.  The employer contribution portion earmarked for
2948	administrative and educational expenses shall be transferred to
2949	the Florida Retirement System Investment Plan Trust Fund board.
2950	3.  The employer contribution portion earmarked for
2951	disability benefits shall be transferred to the Florida
2952	Retirement System Trust Fund department.
2953	(d)(b)  The third-party administrator is Employers are
2954	responsible for monitoring and notifying employers of the
2955	participants regarding maximum contribution levels allowed for
2956	members permitted under the Internal Revenue Code. If a member
2957	participant contributes to any other tax-deferred plan, the
2958	member he or she is responsible for ensuring that total
2959	contributions made to the investment plan optional program and
2960	to any other such plan do not exceed federally permitted
2961	maximums.
2962	(e)(c)  The investment plan Public Employee Optional
2963	Retirement Program may accept for deposit into member
2964	participant accounts contributions in the form of rollovers or
2965	direct trustee-to-trustee transfers by or on behalf of members
2966	participants, reasonably determined by the state board to be
2967	eligible for rollover or transfer to the investment plan
2968	optional retirement program pursuant to the Internal Revenue
2969	Code, if such contributions are made in accordance with rules as
2970	may be adopted by the board. Such contributions must shall be
2971	accounted for in accordance with any applicable Internal Revenue
2972	Code requirements and rules of the state board.
2973	(6)  VESTING REQUIREMENTS.-
2974	(a)  A member is fully and immediately vested in all
2975	employee contributions paid to the investment plan as provided
2976	in s. 121.72(2), plus interest and earnings thereon and less
2977	investment fees and administrative charges.
2978	(b)(a)1.  With respect to employer contributions paid on
2979	behalf of the member participant to the investment plan optional
2980	retirement program, plus interest and earnings thereon and less
2981	investment fees and administrative charges, a member participant
2982	is vested after completing 1 work year with an employer,
2983	including any service while the member participant was a member
2984	of the pension plan defined benefit program or an optional
2985	retirement program authorized under s. 121.051(2)(c) or s.
2986	121.055(6).
2987	2.  If the member participant terminates employment before
2988	satisfying the vesting requirements, the nonvested accumulation
2989	must be transferred from the member's participant's accounts to
2990	the state board for deposit and investment by the state board in
2991	its the suspense account created within the Florida Retirement
2992	System Investment Plan Public Employee Optional Retirement
2993	Program Trust Fund. If the terminated member participant is
2994	reemployed as an eligible employee within 5 years, the state
2995	board shall transfer to the member's participant's account any
2996	amount previously transferred from the member's participant's
2997	accounts to the suspense account, plus actual earnings on such
2998	amount while in the suspense account.
2999	(c)(b)1.  With respect to amounts contributed by an
3000	employer and transferred from the pension plan defined benefit
3001	program to the investment plan program, plus interest and
3002	earnings, and less investment fees and administrative charges, a
3003	member participant shall be vested in the amount transferred
3004	upon meeting the service requirements for the member's
3005	participant's membership class as set forth in s. 121.021(29).
3006	The third-party administrator shall account for such amounts for
3007	each member participant. The division shall notify the member
3008	participant and the third-party administrator when the member
3009	participant has satisfied the vesting period for Florida
3010	Retirement System purposes.
3011	2.  If the member participant terminates employment before
3012	satisfying the vesting requirements, the nonvested accumulation
3013	must be transferred from the member's participant's accounts to
3014	the state board for deposit and investment by the state board in
3015	the suspense account created within the Florida Retirement
3016	System Investment Plan Public Employee Optional Retirement
3017	Program Trust Fund. If the terminated member participant is
3018	reemployed as an eligible employee within 5 years, the state
3019	board shall transfer to the member's accounts participant's
3020	account any amount previously transferred from the member's
3021	participant's accounts to the suspense account, plus the actual
3022	earnings on such amount while in the suspense account.
3023	(d)(c)  Any nonvested accumulations transferred from a
3024	member's participant's account to the state board's suspense
3025	account shall be forfeited, including accompanying service
3026	credit, by the member participant if the member participant is
3027	not reemployed as an eligible employee within 5 years after
3028	termination.
3029	(e)  If the member elects to receive any of his or her
3030	vested employee or employer contributions upon termination of
3031	employment as provided in s. 121.021(39)(a), except for a
3032	mandatory distribution of a de minimis account authorized by the
3033	state board or a minimum required distribution provided by s.
3034	401(a)(9) of the Internal Revenue Code, the member shall forfeit
3035	all nonvested employer contributions, and accompanying service
3036	credit, paid on behalf of the member to the investment plan.
3037	(7)  BENEFITS.-Under the investment plan, benefits must
3038	Public Employee Optional Retirement Program:
3039	(a)  Benefits shall Be provided in accordance with s.
3040	401(a) of the Internal Revenue Code.
3041	(b)  Benefits shall Accrue in individual accounts that are
3042	member-directed participant-directed, portable, and funded by
3043	employer and employee contributions and earnings thereon.
3044	(c)  Benefits shall Be payable in accordance with the
3045	provisions of s. 121.591.
3046	(8)  INVESTMENT PLAN ADMINISTRATION OF PROGRAM.-
3047	(a)  The investment plan optional retirement program shall
3048	be administered by the state board and affected employers. The
3049	state board may require oaths, by affidavit or otherwise, and
3050	acknowledgments from persons in connection with the
3051	administration of its statutory duties and responsibilities for
3052	the investment plan this program. An oath, by affidavit or
3053	otherwise, may not be required of a member an employee
3054	participant at the time of enrollment. Acknowledgment of an
3055	employee's election to participate in the program shall be no
3056	greater than necessary to confirm the employee's election. The
3057	state board shall adopt rules to carry out its statutory duties
3058	with respect to administering the investment plan optional
3059	retirement program, including establishing the roles and
3060	responsibilities of affected state, local government, and
3061	education-related employers, the state board, the department,
3062	and third-party contractors. The department shall adopt rules
3063	necessary to administer the investment plan optional program in
3064	coordination with the pension plan defined benefit program and
3065	the disability benefits available under the investment plan
3066	optional program.
3067	(a)(b)1.  The state board shall select and contract with a
3068	one third-party administrator to provide administrative services
3069	if those services cannot be competitively and contractually
3070	provided by the division of Retirement within the Department of
3071	Management Services. With the approval of the state board, the
3072	third-party administrator may subcontract with other
3073	organizations or individuals to provide components of the
3074	administrative services. As a cost of administration, the state
3075	board may compensate any such contractor for its services, in
3076	accordance with the terms of the contract, as is deemed
3077	necessary or proper by the board. The third-party administrator
3078	may not be an approved provider or be affiliated with an
3079	approved provider.
3080	2.  These administrative services may include, but are not
3081	limited to, enrollment of eligible employees, collection of
3082	employer and employee contributions, disbursement of such
3083	contributions to approved providers in accordance with the
3084	allocation directions of members participants; services relating
3085	to consolidated billing; individual and collective recordkeeping
3086	and accounting; asset purchase, control, and safekeeping; and
3087	direct disbursement of funds to and from the third-party
3088	administrator, the division, the state board, employers, members
3089	participants, approved providers, and beneficiaries. This
3090	section does not prevent or prohibit a bundled provider from
3091	providing any administrative or customer service, including
3092	accounting and administration of individual member participant
3093	benefits and contributions; individual member participant
3094	recordkeeping; asset purchase, control, and safekeeping; direct
3095	execution of the member's participant's instructions as to asset
3096	and contribution allocation; calculation of daily net asset
3097	values; direct access to member participant account information;
3098	or periodic reporting to members participants, at least
3099	quarterly, on account balances and transactions, if these
3100	services are authorized by the state board as part of the
3101	contract.
3102	(b)1.3.  The state board shall select and contract with one
3103	or more organizations to provide educational services. With
3104	approval of the state board, the organizations may subcontract
3105	with other organizations or individuals to provide components of
3106	the educational services. As a cost of administration, the state
3107	board may compensate any such contractor for its services in
3108	accordance with the terms of the contract, as is deemed
3109	necessary or proper by the board. The education organization may
3110	not be an approved provider or be affiliated with an approved
3111	provider.
3112	2.4.  Educational services shall be designed by the state
3113	board and department to assist employers, eligible employees,
3114	members participants, and beneficiaries in order to maintain
3115	compliance with United States Department of Labor regulations
3116	under s. 404(c) of the Employee Retirement Income Security Act
3117	of 1974 and to assist employees in their choice of pension plan
3118	defined benefit or investment plan defined contribution
3119	retirement alternatives. Educational services include, but are
3120	not limited to, disseminating educational materials; providing
3121	retirement planning education; explaining the pension
3122	differences between the defined benefit retirement plan and the
3123	investment defined contribution retirement plan; and offering
3124	financial planning guidance on matters such as investment
3125	diversification, investment risks, investment costs, and asset
3126	allocation. An approved provider may also provide educational
3127	information, including retirement planning and investment
3128	allocation information concerning its products and services.
3129	(c)1.  In evaluating and selecting a third-party
3130	administrator, the state board shall establish criteria for
3131	evaluating under which it shall consider the relative
3132	capabilities and qualifications of each proposed administrator.
3133	In developing such criteria, the state board shall consider:
3134	a.  The administrator's demonstrated experience in
3135	providing administrative services to public or private sector
3136	retirement systems.
3137	b.  The administrator's demonstrated experience in
3138	providing daily valued recordkeeping to defined contribution
3139	programs plans.
3140	c.  The administrator's ability and willingness to
3141	coordinate its activities with the Florida Retirement System
3142	employers, the state board, and the division, and to supply to
3143	such employers, the board, and the division the information and
3144	data they require, including, but not limited to, monthly
3145	management reports, quarterly member participant reports, and ad
3146	hoc reports requested by the department or state board.
3147	d.  The cost-effectiveness and levels of the administrative
3148	services provided.
3149	e.  The administrator's ability to interact with the
3150	members participants, the employers, the state board, the
3151	division, and the providers; the means by which members
3152	participants may access account information, direct investment
3153	of contributions, make changes to their accounts, transfer
3154	moneys between available investment vehicles, and transfer
3155	moneys between investment products; and any fees that apply to
3156	such activities.
3157	f.  Any other factor deemed necessary by the Trustees of
3158	the state board of Administration.
3159	2.  In evaluating and selecting an educational provider,
3160	the state board shall establish criteria under which it shall
3161	consider the relative capabilities and qualifications of each
3162	proposed educational provider. In developing such criteria, the
3163	state board shall consider:
3164	a.  Demonstrated experience in providing educational
3165	services to public or private sector retirement systems.
3166	b.  Ability and willingness to coordinate its activities
3167	with the Florida Retirement System employers, the state board,
3168	and the division, and to supply to such employers, the board,
3169	and the division the information and data they require,
3170	including, but not limited to, reports on educational contacts.
3171	c.  The cost-effectiveness and levels of the educational
3172	services provided.
3173	d.  Ability to provide educational services via different
3174	media, including, but not limited to, the Internet, personal
3175	contact, seminars, brochures, and newsletters.
3176	e.  Any other factor deemed necessary by the Trustees of
3177	the state board of Administration.
3178	3.  The establishment of the criteria shall be solely
3179	within the discretion of the state board.
3180	(d)  The state board shall develop the form and content of
3181	any contracts to be offered under the investment plan Public
3182	Employee Optional Retirement Program. In developing the its
3183	contracts, the board shall must consider:
3184	1.  The nature and extent of the rights and benefits to be
3185	afforded in relation to the required contributions required
3186	under the plan program.
3187	2.  The suitability of the rights and benefits provided to
3188	be afforded and the interests of employers in the recruitment
3189	and retention of eligible employees.
3190	(e)1.  The state board may contract with any consultant for
3191	professional services, including legal, consulting, accounting,
3192	and actuarial services, deemed necessary to implement and
3193	administer the investment plan optional program by the Trustees
3194	of the State Board of Administration. The state board may enter
3195	into a contract with one or more vendors to provide low-cost
3196	investment advice to members participants, supplemental to
3197	education provided by the third-party administrator. All fees
3198	under any such contract shall be paid by those members
3199	participants who choose to use the services of the vendor.
3200	2.  The department may contract with consultants for
3201	professional services, including legal, consulting, accounting,
3202	and actuarial services, deemed necessary to implement and
3203	administer the investment plan optional program in coordination
3204	with the pension plan defined benefit program of the Florida
3205	Retirement System. The department, in coordination with the
3206	state board, may enter into a contract with the third-party
3207	administrator in order to coordinate services common to the
3208	various programs within the Florida Retirement System.
3209	(f)  The third-party administrator may shall not receive
3210	direct or indirect compensation from an approved provider,
3211	except as specifically provided for in the contract with the
3212	state board.
3213	(g)  The state board shall receive and resolve member
3214	participant complaints against the program, the third-party
3215	administrator, or any program vendor or provider; shall resolve
3216	any conflict between the third-party administrator and an
3217	approved provider if such conflict threatens the implementation
3218	or administration of the program or the quality of services to
3219	employees; and may resolve any other conflicts. The third-party
3220	administrator shall retain all member participant records for at
3221	least 5 years for use in resolving any member participant
3222	conflicts. The state board, the third-party administrator, or a
3223	provider is not required to produce documentation or an audio
3224	recording to justify action taken with regard to a member
3225	participant if the action occurred 5 or more years before the
3226	complaint is submitted to the state board. It is presumed that
3227	all action taken 5 or more years before the complaint is
3228	submitted was taken at the request of the member participant and
3229	with the member's participant's full knowledge and consent. To
3230	overcome this presumption, the member participant must present
3231	documentary evidence or an audio recording demonstrating
3232	otherwise.
3233	(9)  INVESTMENT OPTIONS OR PRODUCTS; PERFORMANCE REVIEW.-
3234	(a)  The state board shall develop policy and procedures
3235	for selecting, evaluating, and monitoring the performance of
3236	approved providers and investment products to which employees
3237	may direct retirement contributions under the investment plan
3238	program. In accordance with such policy and procedures, the
3239	state board shall designate and contract for a number of
3240	investment products as determined by the board. The board shall
3241	also select one or more bundled providers, each of which whom
3242	may offer multiple investment options and related services, if
3243	when such an approach is determined by the board to provide
3244	afford value to the members participants otherwise not available
3245	through individual investment products. Each approved bundled
3246	provider may offer investment options that provide members
3247	participants with the opportunity to invest in each of the
3248	following asset classes, to be composed of individual options
3249	that represent either a single asset class or a combination
3250	thereof: money markets, United States fixed income, United
3251	States equities, and foreign stock. The state board shall review
3252	and manage all educational materials, contract terms, fee
3253	schedules, and other aspects of the approved provider
3254	relationships to ensure that no provider is unduly favored or
3255	penalized by virtue of its status within the investment plan.
3256	(b)  The state board shall consider investment options or
3257	products it considers appropriate to give members participants
3258	the opportunity to accumulate retirement benefits, subject to
3259	the following:
3260	1.  The investment plan Public Employee Optional Retirement
3261	Program must offer a diversified mix of low-cost investment
3262	products that span the risk-return spectrum and may include a
3263	guaranteed account as well as investment products, such as
3264	individually allocated guaranteed and variable annuities, which
3265	meet the requirements of this subsection and combine the ability
3266	to accumulate investment returns with the option of receiving
3267	lifetime income consistent with the long-term retirement
3268	security of a pension plan and similar to the lifetime-income
3269	benefit provided by the Florida Retirement System.
3270	2.  Investment options or products offered by the group of
3271	approved providers may include mutual funds, group annuity
3272	contracts, individual retirement annuities, interests in trusts,
3273	collective trusts, separate accounts, and other such financial
3274	instruments, and may include products that give members
3275	participants the option of committing their contributions for an
3276	extended time period in an effort to obtain returns higher than
3277	those that could be obtained from investment products offering
3278	full liquidity.
3279	3.  The state board may shall not contract with a any
3280	provider that imposes a front-end, back-end, contingent, or
3281	deferred sales charge, or any other fee that limits or restricts
3282	the ability of members participants to select any investment
3283	product available in the investment plan optional program. This
3284	prohibition does not apply to fees or charges that are imposed
3285	on withdrawals from products that give members participants the
3286	option of committing their contributions for an extended time
3287	period in an effort to obtain returns higher than those that
3288	could be obtained from investment products offering full
3289	liquidity, if provided that the product in question, net of all
3290	fees and charges, produces material benefits relative to other
3291	comparable products in the investment plan program offering full
3292	liquidity.
3293	4.  Fees or charges for insurance features, such as
3294	mortality and expense-risk charges, must be reasonable relative
3295	to the benefits provided.
3296	(c)  In evaluating and selecting approved providers and
3297	products, the state board shall establish criteria for
3298	evaluating under which it shall consider the relative
3299	capabilities and qualifications of each proposed provider
3300	company and product. In developing such criteria, the board
3301	shall consider the following to the extent such factors may be
3302	applied in connection with investment products, services, or
3303	providers:
3304	1.  Experience in the United States providing retirement
3305	products and related financial services under defined
3306	contribution retirement programs plans.
3307	2.  Financial strength and stability as which shall be
3308	evidenced by the highest ratings assigned by nationally
3309	recognized rating services when comparing proposed providers
3310	that are so rated.
3311	3.  Intrastate and interstate portability of the product
3312	offered, including early withdrawal options.
3313	4.  Compliance with the Internal Revenue Code.
3314	5.  The cost-effectiveness of the product provided and the
3315	levels of service supporting the product relative to its
3316	benefits and its characteristics, including, without limitation,
3317	the level of risk borne by the provider.
3318	6.  The provider company's ability and willingness to
3319	coordinate its activities with Florida Retirement System
3320	employers, the department, and the state board, and to supply
3321	the to such employers, the department, and the board with the
3322	information and data they require.
3323	7.  The methods available to members participants to
3324	interact with the provider company; the means by which members
3325	participants may access account information, direct investment
3326	of contributions, make changes to their accounts, transfer
3327	moneys between available investment vehicles, and transfer
3328	moneys between provider companies; and any fees that apply to
3329	such activities.
3330	8.  The provider company's policies with respect to the
3331	transfer of individual account balances, contributions, and
3332	earnings thereon, both internally among investment products
3333	offered by the provider company and externally between approved
3334	providers, as well as any fees, charges, reductions, or
3335	penalties that may be applied.
3336	9.  An evaluation of specific investment products, taking
3337	into account each product's experience in meeting its investment
3338	return objectives net of all related fees, expenses, and
3339	charges, including, but not limited to, investment management
3340	fees, loads, distribution and marketing fees, custody fees,
3341	recordkeeping fees, education fees, annuity expenses, and
3342	consulting fees.
3343	10.  Organizational factors, including, but not limited to,
3344	financial solvency, organizational depth, and experience in
3345	providing institutional and retail investment services.
3346	(d)  By March 1, 2010, the state board shall identify and
3347	offer at least one terror-free investment product that allocates
3348	its funds among securities not subject to divestiture as
3349	provided in s. 215.473 if the investment product is deemed by
3350	the state board to be consistent with prudent investor
3351	standards. A No person may not bring a civil, criminal, or
3352	administrative action against an approved provider; the state
3353	board; or any employee, officer, director, or trustee of such
3354	provider based upon the divestiture of any security or the
3355	offering of a terror-free investment product as specified in
3356	this paragraph.
3357	(e)  As a condition of offering an any investment option or
3358	product in the investment plan optional retirement program, the
3359	approved provider must agree to make the investment product or
3360	service available under the most beneficial terms offered to any
3361	other customer, subject to approval by the Trustees of the state
3362	board of Administration.
3363	(f)  The state board shall regularly review the performance
3364	of each approved provider and product and related organizational
3365	factors to ensure continued compliance with established
3366	selection criteria and with board policy and procedures.
3367	Providers and products may be terminated subject to contract
3368	provisions. The state board shall adopt procedures to transfer
3369	account balances from terminated products or providers to other
3370	products or providers in the investment plan optional program.
3371	(g)1.  An approved provider shall comply with all
3372	applicable federal and state securities and insurance laws and
3373	regulations applicable to the provider, as well as with the
3374	applicable rules and guidelines of the National Association of
3375	Securities Dealers which govern the ethical marketing of
3376	investment products. In furtherance of this mandate, an approved
3377	provider must agree in its contract with the state board to
3378	establish and maintain a compliance education and monitoring
3379	system to supervise the activities of all personnel who directly
3380	communicate with individual members participants and recommend
3381	investment products, which system is consistent with rules of
3382	the National Association of Securities Dealers.
3383	2.  Approved provider personnel who directly communicate
3384	with individual members participants and who recommend
3385	investment products shall make an independent and unbiased
3386	determination as to whether an investment product is suitable
3387	for a particular member participant.
3388	3.  The state board shall develop procedures to receive and
3389	resolve member participant complaints against a provider or
3390	approved provider personnel, and, if when appropriate, refer
3391	such complaints to the appropriate agency.
3392	4.  Approved providers may not sell or in any way
3393	distribute any customer list or member participant
3394	identification information generated through their offering of
3395	products or services through the investment plan optional
3396	retirement program.
3397	(10)  EDUCATION COMPONENT.-
3398	(a)  The state board, in coordination with the department,
3399	shall provide for an education component for system members in a
3400	manner consistent with the provisions of this section. The
3401	education component must be available to eligible employees at
3402	least 90 days prior to the beginning date of the election period
3403	for the employees of the respective types of employers.
3404	(b)  The education component must provide system members
3405	with impartial and balanced information about plan choices. The
3406	education component must involve multimedia formats. Program
3407	comparisons must, to the greatest extent possible, be based upon
3408	the retirement income that different retirement programs may
3409	provide to the member participant. The state board shall monitor
3410	the performance of the contract to ensure that the program is
3411	conducted in accordance with the contract, applicable law, and
3412	the rules of the state board.
3413	(c)  The state board, in coordination with the department,
3414	shall provide for an initial and ongoing transfer education
3415	component to provide system members with information necessary
3416	to make informed plan choice decisions. The transfer education
3417	component must include, but is not limited to, information on:
3418	1.  The amount of money available to a member to transfer
3419	to the defined contribution program.
3420	2.  The features of and differences between the pension
3421	plan defined benefit program and the defined contribution
3422	program, both generally and specifically, as those differences
3423	may affect the member.
3424	3.  The expected benefit available if the member were to
3425	retire under each of the retirement programs, based on
3426	appropriate alternative sets of assumptions.
3427	4.  The rate of return from investments in the defined
3428	contribution program and the period of time over which such rate
3429	of return must be achieved to equal or exceed the expected
3430	monthly benefit payable to the member under the pension plan
3431	defined benefit program.
3432	5.  The historical rates of return for the investment
3433	alternatives available in the defined contribution programs.
3434	6.  The benefits and historical rates of return on
3435	investments available in a typical deferred compensation plan or
3436	a typical plan under s. 403(b) of the Internal Revenue Code for
3437	which the employee may be eligible.
3438	7.  The program choices available to employees of the State
3439	University System and the comparative benefits of each available
3440	program, if applicable.
3441	8.  Payout options available in each of the retirement
3442	programs.
3443	(d)  An ongoing education and communication component must
3444	provide eligible employees system members with information
3445	necessary to make informed decisions about choices within their
3446	retirement system program of membership and in preparation for
3447	retirement. The component must include, but is not limited to,
3448	information concerning:
3449	1.  Rights and conditions of membership.
3450	2.  Benefit features within the program, options, and
3451	effects of certain decisions.
3452	3.  Coordination of contributions and benefits with a
3453	deferred compensation plan under s. 457 or a plan under s.
3454	403(b) of the Internal Revenue Code.
3455	4.  Significant program changes.
3456	5.  Contribution rates and program funding status.
3457	6.  Planning for retirement.
3458	(e)  Descriptive materials must be prepared under the
3459	assumption that the employee is an unsophisticated investor, and
3460	all materials used in the education component must be approved
3461	by the state board prior to dissemination.
3462	(f)  The state board and the department shall also
3463	establish a communication component to provide program
3464	information to participating employers and the employers'
3465	personnel and payroll officers and to explain their respective
3466	responsibilities in conjunction with the retirement programs.
3467	(g)  Funding for education of new employees may reflect
3468	administrative costs to the investment plan optional program and
3469	the pension plan defined benefit program.
3470	(h)  Pursuant to subsection paragraph (8)(a), all Florida
3471	Retirement System employers have an obligation to regularly
3472	communicate the existence of the two Florida Retirement System
3473	plans and the plan choice in the natural course of administering
3474	their personnel functions, using the educational materials
3475	supplied by the state board and the Department of Management
3476	Services.
3477	(11)  MEMBER PARTICIPANT INFORMATION REQUIREMENTS.-The
3478	state board shall ensure that each member participant is
3479	provided a quarterly statement that accounts for the
3480	contributions made on behalf of the member such participant; the
3481	interest and investment earnings thereon; and any fees,
3482	penalties, or other deductions that apply thereto. At a minimum,
3483	such statements must:
3484	(a)  Indicate the member's participant's investment
3485	options.
3486	(b)  State the market value of the account at the close of
3487	the current quarter and previous quarter.
3488	(c)  Show account gains and losses for the period and
3489	changes in account accumulation unit values for the quarter
3490	period.
3491	(d)  Itemize account contributions for the quarter.
3492	(e)  Indicate any account changes due to adjustment of
3493	contribution levels, reallocation of contributions, balance
3494	transfers, or withdrawals.
3495	(f)  Set forth any fees, charges, penalties, and deductions
3496	that apply to the account.
3497	(g)  Indicate the amount of the account in which the member
3498	participant is fully vested and the amount of the account in
3499	which the member participant is not vested.
3500	(h)  Indicate each investment product's performance
3501	relative to an appropriate market benchmark.
3502
3503	The third-party administrator shall provide quarterly and annual
3504	summary reports to the state board and any other reports
3505	requested by the department or the state board. In any
3506	solicitation or offer of coverage under the investment plan an
3507	optional retirement program, a provider company shall be
3508	governed by the contract readability provisions of s. 627.4145,
3509	notwithstanding s. 627.4145(6)(c). In addition, all descriptive
3510	materials must be prepared under the assumption that the member
3511	participant is an unsophisticated investor. Provider companies
3512	must maintain an internal system of quality assurance, have
3513	proven functional systems that are date-calculation compliant,
3514	and be subject to a due-diligence inquiry that proves their
3515	capacity and fitness to undertake service responsibilities.
3516	(12)  ADVISORY COUNCIL TO PROVIDE ADVICE AND ASSISTANCE.-
3517	The Investment Advisory Council, created pursuant to s. 215.444,
3518	shall assist the state board in implementing and administering
3519	the investment plan Public Employee Optional Retirement Program.
3520	The Investment Advisory council, created pursuant to s. 215.444,
3521	shall review the state board's initial recommendations regarding
3522	the criteria to be used in selecting and evaluating approved
3523	providers and investment products. The council may provide
3524	comments on the recommendations to the state board within 45
3525	days after receiving the initial recommendations. The state
3526	board shall make the final determination as to whether any
3527	investment provider or product, any contractor, or any and all
3528	contract provisions are shall be approved for the investment
3529	plan program.
3530	(13)  FEDERAL REQUIREMENTS.-
3531	(a)  Provisions of This section shall be construed, and the
3532	investment plan Public Employee Optional Retirement Program
3533	shall be administered, so as to comply with the Internal Revenue
3534	Code, 26 U.S.C., and specifically with plan qualification
3535	requirements imposed on governmental plans under s. 401(a) of
3536	the Internal Revenue Code. The state board may shall have the
3537	power and authority to adopt rules reasonably necessary to
3538	establish or maintain the qualified status of the investment
3539	plan Optional Retirement Program under the Internal Revenue Code
3540	and to implement and administer the investment plan Optional
3541	Retirement Program in compliance with the Internal Revenue Code
3542	and as designated under this part; provided however, that the
3543	board shall not have the authority to adopt any rule which makes
3544	a substantive change to the investment plan Optional Retirement
3545	Program as designed by this part.
3546	(b)  Any section or provision of this chapter which is
3547	susceptible to more than one construction shall must be
3548	interpreted in favor of the construction most likely to satisfy
3549	requirements imposed by s. 401(a) of the Internal Revenue Code.
3550	(c)  Contributions payable under this section for any
3551	limitation year may not exceed the maximum amount allowable for
3552	qualified defined contribution pension plans under applicable
3553	provisions of the Internal Revenue Code. If an employee who is
3554	enrolled has elected to participate in the investment plan
3555	Public Employee Optional Retirement Program participates in any
3556	other plan that is maintained by the participating employer,
3557	benefits that accrue under the investment plan Public Employee
3558	Optional Retirement Program shall be considered primary for any
3559	aggregate limitation applicable under s. 415 of the Internal
3560	Revenue Code.
3561	(14)  INVESTMENT POLICY STATEMENT.-
3562	(a)  Investment products and approved providers selected
3563	for the investment plan must Public Employee Optional Retirement
3564	Program shall conform with the Florida Retirement System
3565	Investment Plan Public Employee Optional Retirement Program
3566	Investment Policy Statement, herein referred to as the
3567	"statement," as developed and approved by the trustees of the
3568	state board of Administration. The statement must include, among
3569	other items, the investment objectives of the investment plan
3570	Public Employee Optional Retirement Program, manager selection
3571	and monitoring guidelines, and performance measurement criteria.
3572	As required from time to time, the executive director of the
3573	state board may present recommended changes in the statement to
3574	the board for approval.
3575	(b)  Prior to presenting the statement, or any recommended
3576	changes thereto, to the state board, the executive director of
3577	the board shall present such statement or changes to the
3578	Investment Advisory Council for review. The council shall
3579	present the results of its review to the board prior to the
3580	board's final approval of the statement or changes in the
3581	statement.
3582	(15)  STATEMENT OF FIDUCIARY STANDARDS AND
3583	RESPONSIBILITIES.-
3584	(a)  Investment of optional defined contribution retirement
3585	plan assets shall be made for the sole interest and exclusive
3586	purpose of providing benefits to members plan participants and
3587	beneficiaries and defraying reasonable expenses of administering
3588	the plan. The program's assets shall are to be invested, on
3589	behalf of the program members participants, with the care,
3590	skill, and diligence that a prudent person acting in a like
3591	manner would undertake. The performance of the investment duties
3592	set forth in this paragraph shall comply with the fiduciary
3593	standards set forth in the Employee Retirement Income Security
3594	Act of 1974 at 29 U.S.C. s. 1104(a)(1)(A)-(C). In case of
3595	conflict with other provisions of law authorizing investments,
3596	the investment and fiduciary standards set forth in this
3597	subsection shall prevail.
3598	(b)  If a member participant or beneficiary of the
3599	investment plan Public Employee Optional Retirement Program
3600	exercises control over the assets in his or her account, as
3601	determined by reference to regulations of the United States
3602	Department of Labor under s. 404(c) of the Employee Retirement
3603	Income Security Act of 1974 and all applicable laws governing
3604	the operation of the program, a no program fiduciary is not
3605	shall be liable for any loss to a member's participant's or
3606	beneficiary's account which results from the member's such
3607	participant's or beneficiary's exercise of control.
3608	(c)  Subparagraph (8)(b)2.4. and paragraph (15)(b)
3609	incorporate the federal law concept of participant control,
3610	established by regulations of the United States Department of
3611	Labor under s. 404(c) of the Employee Retirement Income Security
3612	Act of 1974 (ERISA). The purpose of this paragraph is to assist
3613	employers and the state board of Administration in maintaining
3614	compliance with s. 404(c), while avoiding unnecessary costs and
3615	eroding member participant benefits under the investment plan
3616	Public Employee Optional Retirement Program. Pursuant to 29
3617	C.F.R. s. 2550.404c-1(b)(2)(i)(B)(1)(viii), the state board of
3618	Administration or its designated agents shall deliver to members
3619	participants of the investment plan Public Employee Optional
3620	Retirement Program a copy of the prospectus most recently
3621	provided to the plan, and, pursuant to 29 C.F.R. s. 2550.404c-
3622	1(b)(2)(i)(B)(2)(ii), shall provide such members participants an
3623	opportunity to obtain this information, except that:
3624	1.  The requirement to deliver a prospectus shall be deemed
3625	to be satisfied by delivery of a fund profile or summary profile
3626	that contains the information that would be included in a
3627	summary prospectus as described by Rule 498 under the Securities
3628	Act of 1933, 17 C.F.R. s. 230.498. If When the transaction fees,
3629	expense information or other information provided by a mutual
3630	fund in the prospectus does not reflect terms negotiated by the
3631	state board of Administration or its designated agents, the
3632	aforementioned requirement is deemed to be satisfied by delivery
3633	of a separate document described by Rule 498 substituting
3634	accurate information; and
3635	2.  Delivery shall be deemed to have been effected if
3636	delivery is through electronic means and the following standards
3637	are satisfied:
3638	a.  Electronically-delivered documents are prepared and
3639	provided consistent with style, format, and content requirements
3640	applicable to printed documents;
3641	b.  Each member participant is provided timely and adequate
3642	notice of the documents that are to be delivered, and their
3643	significance thereof, and of the member's participant's right to
3644	obtain a paper copy of such documents free of charge;
3645	c.(I)  Members Participants have adequate access to the
3646	electronic documents, at locations such as their worksites or
3647	public facilities, and have the ability to convert the documents
3648	to paper free of charge by the state board of Administration,
3649	and the board or its designated agents take appropriate and
3650	reasonable measures to ensure that the system for furnishing
3651	electronic documents results in actual receipt., or
3652	(II)  Members Participants have provided consent to receive
3653	information in electronic format, which consent may be revoked;
3654	and
3655	d.  The state board of Administration, or its designated
3656	agent, actually provides paper copies of the documents free of
3657	charge, upon request.
3658	(16)  DISABILITY BENEFITS.-For any member participant of
3659	the investment plan optional retirement program who becomes
3660	totally and permanently disabled, benefits must shall be paid in
3661	accordance with the provisions of s. 121.591.
3662	(17)  SOCIAL SECURITY COVERAGE.-Social security coverage
3663	shall be provided for all officers and employees who become
3664	members participants of the investment plan optional program.
3665	Any modification of the present agreement with the Social
3666	Security Administration, or referendum required under the Social
3667	Security Act, for the purpose of providing social security
3668	coverage for any member shall be requested by the state agency
3669	in compliance with the applicable provisions of the Social
3670	Security Act governing such coverage. However, retroactive
3671	social security coverage for service prior to December 1, 1970,
3672	with the employer may shall not be provided for any member who
3673	was not covered under the agreement as of November 30, 1970.
3674	(18)  RETIREE HEALTH INSURANCE SUBSIDY.-All officers and
3675	employees who are members participants of the investment plan
3676	are optional program shall be eligible to receive the retiree
3677	health insurance subsidy, subject to the provisions of s.
3678	112.363.
3679	(19)  MEMBER PARTICIPANT RECORDS.-Personal identifying
3680	information of a member participant in the investment plan
3681	Public Employee Optional Retirement Program contained in Florida
3682	Retirement System records held by the state board of
3683	Administration or the department of Management Services is
3684	exempt from s. 119.07(1) and s. 24(a), Art. I of the State
3685	Constitution.
3686	(20)  DESIGNATION OF BENEFICIARIES.-
3687	(a)  Each member participant may, by electronic means or on
3688	a form provided for that purpose, signed and filed with the
3689	third-party administrator, designate a choice of one or more
3690	persons, named sequentially or jointly, as his or her
3691	beneficiary for receiving who shall receive the benefits, if
3692	any, which may be payable pursuant to this chapter in the event
3693	of the member's participant's death. If no beneficiary is named
3694	in this manner, or if no beneficiary designated by the member
3695	participant survives the member participant, the beneficiary
3696	shall be the spouse of the deceased, if living. If the member's
3697	participant's spouse is not alive at the time of the
3698	beneficiary's his or her death, the beneficiary shall be the
3699	living children of the member participant. If no children
3700	survive, the beneficiary shall be the member's participant's
3701	father or mother, if living; otherwise, the beneficiary shall be
3702	the member's participant's estate. The beneficiary most recently
3703	designated by a member participant on a form or letter filed
3704	with the third-party administrator shall be the beneficiary
3705	entitled to any benefits payable at the time of the member's
3706	participant's death. However Notwithstanding any other provision
3707	in this subsection to the contrary, for a member participant who
3708	dies prior to his or her effective date of retirement, the
3709	spouse at the time of death shall be the member's participant's
3710	beneficiary unless the member such participant designates a
3711	different beneficiary as provided in this subsection subsequent
3712	to the member's participant's most recent marriage.
3713	(b)  If a member participant designates a primary
3714	beneficiary other than the member's participant's spouse, the
3715	member's participant's spouse must sign the beneficiary
3716	designation form to acknowledge the designation. This
3717	requirement does not apply to the designation of one or more
3718	contingent beneficiaries to receive benefits remaining upon the
3719	death of the primary beneficiary or beneficiaries.
3720	(c)  Notwithstanding the member's participant's designation
3721	of benefits to be paid through a trust to a beneficiary that is
3722	a natural person, and notwithstanding the provisions of the
3723	trust, benefits must shall be paid directly to the beneficiary
3724	if the person is no longer a minor or an incapacitated person as
3725	defined in s. 744.102.
3726	(21)  PARTICIPATION BY TERMINATED DEFERRED RETIREMENT
3727	OPTION PROGRAM MEMBERS PARTICIPANTS.-Notwithstanding any other
3728	provision of law to the contrary, members participants in the
3729	Deferred Retirement Option Program offered under part I may,
3730	after conclusion of their participation in the program, elect to
3731	roll over or authorize a direct trustee-to-trustee transfer to
3732	an account under the investment plan Public Employee Optional
3733	Retirement Program of their Deferred Retirement Option Program
3734	proceeds distributed as provided under s. 121.091(13)(c)5. The
3735	transaction must constitute an "eligible rollover distribution"
3736	within the meaning of s. 402(c)(4) of the Internal Revenue Code.
3737	(a)  The investment plan Public Employee Optional
3738	Retirement Program may accept such amounts for deposit into
3739	member participant accounts as provided in paragraph (5)(e)(c).
3740	(b)  The affected member participant shall direct the
3741	investment of his or her investment account; however, unless he
3742	or she becomes a renewed member of the Florida Retirement System
3743	under s. 121.122 and elects to participate in the investment
3744	plan Public Employee Optional Retirement Program, no employer
3745	contributions may not be made to the member's participant's
3746	account as provided under paragraph (5)(a).
3747	(c)  The state board or the department is not responsible
3748	for locating those persons who may be eligible to participate in
3749	the investment plan Public Employee Optional Retirement Program
3750	under this subsection.
3751	(22)  CREDIT FOR MILITARY SERVICE.-Creditable service of
3752	any member of the investment plan includes Public Employee
3753	Optional Retirement Program shall include military service in
3754	the Armed Forces of the United States as provided in the
3755	conditions outlined in s. 121.111(1).
3756	Section 18.  Section 121.4502, Florida Statutes, is amended
3757	to read:
3758	121.4502  Florida Retirement System Investment Plan Public
3759	Employee Optional Retirement Program Trust Fund.-
3760	(1)  The Florida Retirement System Investment Plan Public
3761	Employee Optional Retirement Program Trust Fund is created to
3762	hold the assets of the Florida Retirement System Investment Plan
3763	Public Employee Optional Retirement Program in trust for the
3764	exclusive benefit of such program's members participants and
3765	beneficiaries, and for the payment of reasonable administrative
3766	expenses of the program, in accordance with s. 401 of the
3767	Internal Revenue Code, and shall be administered by the state
3768	board of Administration as trustee. Funds shall be credited to
3769	the trust fund as provided in this part, to be used for the
3770	purposes of this part. The trust fund is exempt from the service
3771	charges imposed by s. 215.20.
3772	(2)  The Florida Retirement System Investment Plan Public
3773	Employee Optional Retirement Program Trust Fund is a retirement
3774	trust fund of the Florida Retirement System that accounts for
3775	retirement plan assets held by the state in a trustee capacity
3776	as a fiduciary for individual participants in the Florida
3777	Retirement System Investment Plan Public Employee Optional
3778	Retirement Program and, pursuant to s. 19(f), Art. III of the
3779	State Constitution, is not subject to termination.
3780	(3)  A forfeiture account shall be created within the
3781	Florida Retirement System Investment Plan Public Employee
3782	Optional Retirement Program Trust Fund to hold the assets
3783	derived from the forfeiture of benefits by participants.
3784	Pursuant to a private letter ruling from the Internal Revenue
3785	Service, the forfeiture account may be used only for paying
3786	expenses of the Florida Retirement System Investment Plan Public
3787	Employee Optional Retirement Program and reducing future
3788	employer contributions to the program. Consistent with Rulings
3789	80-155 and 74-340 of the Internal Revenue Service, unallocated
3790	reserves within the forfeiture account must be used as quickly
3791	and as prudently as possible considering the state board's
3792	fiduciary duty. Expected withdrawals from the account must
3793	endeavor to reduce the account to zero each fiscal year.
3794	Section 19.  Subsections (1) and (3) of section 121.4503,
3795	Florida Statutes, are amended to read:
3796	121.4503  Florida Retirement System Contributions Clearing
3797	Trust Fund.-
3798	(1)  The Florida Retirement System Contributions Clearing
3799	Trust Fund is created as a clearing fund for disbursing employee
3800	and employer contributions to the component plans of the Florida
3801	Retirement System and shall be administered by the Department of
3802	Management Services. Funds shall be credited to the trust fund
3803	as provided in this chapter and shall be held in trust for the
3804	contributing members and employers until such time as the assets
3805	are transferred by the department to the Florida Retirement
3806	System Trust Fund, the Florida Retirement System Investment Plan
3807	Public Employee Optional Retirement Program Trust Fund, or other
3808	trust funds as authorized by law, to be used for the purposes of
3809	this chapter. The trust fund is exempt from the service charges
3810	imposed by s. 215.20.
3811	(3)  The Department of Management Services may adopt rules
3812	governing the receipt and disbursement of amounts received by
3813	the Florida Retirement System Contributions Clearing Trust Fund
3814	from employees and employers contributing to the component plans
3815	of the Florida Retirement System.
3816	Section 20.  Section 121.571, Florida Statutes, is amended
3817	to read:
3818	121.571  Contributions.-Contributions to the investment
3819	plan Public Employee Optional Retirement Program shall be made
3820	as follows:
3821	(1)  CONTRIBUTORY NONCONTRIBUTORY PLAN.-Each member and
3822	employer shall submit accomplish the contributions as required
3823	by s. 121.71 by a procedure in which no employee's gross salary
3824	shall be reduced.
3825	(2)  CONTRIBUTION RATES GENERALLY.-Contributions to fund
3826	the retirement and disability benefits provided under this part
3827	must shall be based on the uniform contribution rates
3828	established by s. 121.71 and on the membership class or subclass
3829	of the member participant. Such contributions must shall be
3830	allocated as provided in ss. 121.72 and 121.73.
3831	(3)  CONTRIBUTIONS FOR SOCIAL SECURITY COVERAGE AND FOR
3832	RETIREE HEALTH INSURANCE SUBSIDY.-Contributions required under
3833	s. 121.71 are this section shall be in addition to employer and
3834	member contributions required for social security and the
3835	Retiree Health Insurance Subsidy Trust Fund as required under
3836	provided in ss. 112.363, 121.052, 121.055, and 121.071, as
3837	appropriate.
3838	Section 21.  Section 121.591, Florida Statutes, is amended
3839	to read:
3840	121.591  Payment of benefits payable under the Public
3841	Employee Optional Retirement Program of the Florida Retirement
3842	System.-Benefits may not be paid under the Florida Retirement
3843	System Investment Plan this section unless the member has
3844	terminated employment as provided in s. 121.021(39)(a) or is
3845	deceased and a proper application has been filed as in the
3846	manner prescribed by the state board or the department. Benefits
3847	are not payable under the investment plan before termination of
3848	employment as provided in s. 121.021(39)(a) for employee
3849	hardships, unforeseeable emergencies, loans, medical expenses,
3850	educational expenses, purchase of a principal residence,
3851	payments necessary to prevent eviction or foreclosure on an
3852	employee's principal residence, or any other reason prior to
3853	termination from all employment relationships with participating
3854	employers. The state board or department, as appropriate, may
3855	cancel an application for retirement benefits if when the member
3856	or beneficiary fails to timely provide the information and
3857	documents required by this chapter and the rules of the state
3858	board and department. In accordance with their respective
3859	responsibilities as provided herein, the state board of
3860	Administration and the department of Management Services shall
3861	adopt rules establishing procedures for application for
3862	retirement benefits and for the cancellation of such application
3863	if when the required information or documents are not received.
3864	The state board of Administration and the department of
3865	Management Services, as appropriate, are authorized to cash out
3866	a de minimis account of a member participant who has been
3867	terminated from Florida Retirement System covered employment for
3868	a minimum of 6 calendar months. A de minimis account is an
3869	account containing member and employer contributions and
3870	accumulated earnings of not more than $5,000 made under the
3871	provisions of this chapter. Such cash-out must either be a
3872	complete lump-sum liquidation of the account balance, subject to
3873	the provisions of the Internal Revenue Code, or a lump-sum
3874	direct rollover distribution paid directly to the custodian of
3875	an eligible retirement plan, as defined by the Internal Revenue
3876	Code, on behalf of the member participant. Any nonvested
3877	accumulations and associated service credit, including amounts
3878	transferred to the suspense account of the Florida Retirement
3879	System Investment Plan Trust Fund authorized under s.
3880	121.4501(6), shall be forfeited upon payment of any vested
3881	benefit to a member or beneficiary, except for de minimis
3882	distributions or minimum required distributions as provided
3883	under this section. If any financial instrument issued for the
3884	payment of retirement benefits under this section is not
3885	presented for payment within 180 days after the last day of the
3886	month in which it was originally issued, the third-party
3887	administrator or other duly authorized agent of the state board
3888	of Administration shall cancel the instrument and credit the
3889	amount of the instrument to the suspense account of the Florida
3890	Retirement System Investment Plan Public Employee Optional
3891	Retirement Program Trust Fund authorized under s. 121.4501(6).
3892	Any such amounts transferred to the suspense account are payable
3893	upon a proper application, not to include earnings thereon, as
3894	provided in this section, within 10 years after the last day of
3895	the month in which the instrument was originally issued, after
3896	which time such amounts and any earnings attributable to
3897	employer contributions thereon shall be forfeited. Any such
3898	forfeited amounts are assets of the Florida Retirement System
3899	Investment Plan Public Employee Optional Retirement Program
3900	Trust Fund and are not subject to the provisions of chapter 717.
3901	(1)  NORMAL BENEFITS.-Under the investment plan Public
3902	Employee Optional Retirement Program:
3903	(a)  Benefits in the form of vested accumulations as
3904	described in s. 121.4501(6) are payable under this subsection in
3905	accordance with the following terms and conditions:
3906	1.  To the extent vested, Benefits are payable only to a
3907	member, an alternate payee of a qualified domestic relations
3908	order, or a beneficiary participant.
3909	2.  Benefits shall be paid by the third-party administrator
3910	or designated approved providers in accordance with the law, the
3911	contracts, and any applicable board rule or policy.
3912	3.  To receive benefits, The member participant must be
3913	terminated from all employment with all Florida Retirement
3914	System employers, as provided in s. 121.021(39).
3915	4.  Benefit payments may not be made until the member
3916	participant has been terminated for 3 calendar months, except
3917	that the state board may authorize by rule for the distribution
3918	of up to 10 percent of the member's participant's account after
3919	being terminated for 1 calendar month if the member participant
3920	has reached the normal retirement date as defined in s. 121.021
3921	of the defined benefit plan.
3922	5.  If a member or former member of the Florida Retirement
3923	System receives an invalid distribution from the Public Employee
3924	Optional Retirement Program Trust Fund, such person must either
3925	repay the full amount invalid distribution to the trust fund
3926	within 90 days after receipt of final notification by the state
3927	board or the third-party administrator that the distribution was
3928	invalid, or, in lieu of repayment, the member must terminate
3929	employment from all participating employers. If such person
3930	fails to repay the full invalid distribution within 90 days
3931	after receipt of final notification, the person may be deemed
3932	retired from the investment plan optional retirement program by
3933	the state board, as provided pursuant to s. 121.4501(2)(k), and
3934	is subject to s. 121.122. If such person is deemed retired by
3935	the state board, any joint and several liability set out in s.
3936	121.091(9)(d)2. is becomes null and void, and the state board,
3937	the department, or the employing agency is not liable for gains
3938	on payroll contributions that have not been deposited to the
3939	person's account in the investment plan retirement program,
3940	pending resolution of the invalid distribution. The member or
3941	former member who has been deemed retired or who has been
3942	determined by the state board to have taken an invalid
3943	distribution may appeal the agency decision through the
3944	complaint process as provided under s. 121.4501(9)(g)3. As used
3945	in this subparagraph, the term "invalid distribution" means any
3946	distribution from an account in the investment plan optional
3947	retirement program which is taken in violation of this section,
3948	s. 121.091(9), or s. 121.4501.
3949	(b)  If a member participant elects to receive his or her
3950	benefits upon termination of employment as defined in s.
3951	121.021, the member participant must submit a written
3952	application or an application by electronic means to the third-
3953	party administrator indicating his or her preferred distribution
3954	date and selecting an authorized method of distribution as
3955	provided in paragraph (c). The member participant may defer
3956	receipt of benefits until he or she chooses to make such
3957	application, subject to federal requirements.
3958	(c)  Upon receipt by the third-party administrator of a
3959	properly executed application for distribution of benefits, the
3960	total accumulated benefit is shall be payable to the member pro
3961	rata across all Florida Retirement System benefit sources
3962	participant, as:
3963	1.  A lump-sum or partial distribution to the member
3964	participant;
3965	2.  A lump-sum direct rollover distribution whereby all
3966	accrued benefits, plus interest and investment earnings, are
3967	paid from the member's participant's account directly to the
3968	custodian of an eligible retirement plan, as defined in s.
3969	402(c)(8)(B) of the Internal Revenue Code, on behalf of the
3970	member participant; or
3971	3.  Periodic distributions, as authorized by the state
3972	board.
3973	(d)  The distribution payment method selected by the member
3974	or beneficiary, and the retirement of the member or beneficiary,
3975	shall be final and irrevocable at the time a benefit
3976	distribution payment is cashed, deposited, or transferred to
3977	another financial institution. Any additional service that
3978	remains unclaimed at retirement may not be claimed or purchased,
3979	and the type of retirement may not be changed, except that if a
3980	member recovers from a disability, the member may subsequently
3981	request benefits under subsection (2).
3982	(e)  A member may not receive a distribution of employee
3983	contributions if a pending qualified domestic relations order is
3984	filed against the member's investment plan account.
3985	(2)  DISABILITY RETIREMENT BENEFITS.-Benefits provided
3986	under this subsection are payable in lieu of the benefits that
3987	which would otherwise be payable under the provisions of
3988	subsection (1). Such benefits must shall be funded entirely from
3989	employer contributions made under s. 121.571, transferred
3990	employee contributions and participant funds accumulated
3991	pursuant to paragraph (a), and interest and earnings thereon.
3992	Pursuant thereto:
3993	(a)  Transfer of funds.-To qualify to receive monthly
3994	disability benefits under this subsection:
3995	1.  All moneys accumulated in the member's participant's
3996	Public Employee Optional Retirement Program accounts, including
3997	vested and nonvested accumulations as described in s.
3998	121.4501(6), must shall be transferred from such individual
3999	accounts to the division of Retirement for deposit in the
4000	disability account of the Florida Retirement System Trust Fund.
4001	Such moneys must shall be separately accounted for separately.
4002	Earnings must shall be credited on an annual basis for amounts
4003	held in the disability accounts of the Florida Retirement System
4004	Trust Fund based on actual earnings of the Florida Retirement
4005	System trust fund.
4006	2.  If the member participant has retained retirement
4007	credit he or she had earned under the pension plan defined
4008	benefit program of the Florida Retirement System as provided in
4009	s. 121.4501(3)(b), a sum representing the actuarial present
4010	value of such credit within the Florida Retirement System Trust
4011	Fund shall be reassigned by the division of Retirement from the
4012	pension plan defined benefit program to the disability program
4013	as implemented under this subsection and shall be deposited in
4014	the disability account of the Florida Retirement System trust
4015	fund. Such moneys must shall be separately accounted for
4016	separately.
4017	(b)  Disability retirement; entitlement.-
4018	1.  A member participant of the investment plan Public
4019	Employee Optional Retirement Program who becomes totally and
4020	permanently disabled, as defined in paragraph (d) s.
4021	121.091(4)(b), after completing 8 years of creditable service,
4022	or a member participant who becomes totally and permanently
4023	disabled in the line of duty regardless of his or her length of
4024	service, is shall be entitled to a monthly disability benefit as
4025	provided herein.
4026	2.  In order for service to apply toward the 8 years of
4027	creditable service required to vest for regular disability
4028	benefits, or toward the creditable service used in calculating a
4029	service-based benefit as provided for under paragraph (g), the
4030	service must be creditable service as described below:
4031	a.  The member's participant's period of service under the
4032	investment plan shall Public Employee Optional Retirement
4033	Program will be considered creditable service, except as
4034	provided in subparagraph d.
4035	b.  If the member participant has elected to retain credit
4036	for his or her service under the pension plan defined benefit
4037	program of the Florida Retirement System as provided under s.
4038	121.4501(3)(b), all such service shall will be considered
4039	creditable service.
4040	c.  If the member elects participant has elected to
4041	transfer to his or her member participant accounts a sum
4042	representing the present value of his or her retirement credit
4043	under the pension plan defined benefit program as provided under
4044	s. 121.4501(3)(c), the period of service under the pension plan
4045	defined benefit program represented in the present value amounts
4046	transferred shall will be considered creditable service for
4047	purposes of vesting for disability benefits, except as provided
4048	in subparagraph d.
4049	d.  Whenever a member participant has terminated employment
4050	and has taken distribution of his or her funds as provided in
4051	subsection (1), all creditable service represented by such
4052	distributed funds is forfeited for purposes of this subsection.
4053	(c)  Disability retirement effective date.-The effective
4054	retirement date for a member participant who applies and is
4055	approved for disability retirement shall be established as
4056	provided under s. 121.091(4)(a)2. and 3.
4057	(d)  Total and permanent disability.-A member participant
4058	shall be considered totally and permanently disabled if, in the
4059	opinion of the division, he or she is prevented, by reason of a
4060	medically determinable physical or mental impairment, from
4061	rendering useful and efficient service as an officer or
4062	employee.
4063	(e)  Proof of disability.-The division, Before approving
4064	payment of any disability retirement benefit, the division shall
4065	require proof that the member participant is totally and
4066	permanently disabled in the same manner as provided for members
4067	of the defined benefit program of the Florida Retirement System
4068	under s. 121.091(4)(c).
4069	(f)  Disability retirement benefit.-Upon the disability
4070	retirement of a member participant under this subsection, the
4071	member participant shall receive a monthly benefit that begins
4072	accruing shall begin to accrue on the first day of the month of
4073	disability retirement, as approved by the division, and is shall
4074	be payable on the last day of that month and each month
4075	thereafter during his or her lifetime and continued disability.
4076	All disability benefits must payable to such member shall be
4077	paid out of the disability account of the Florida Retirement
4078	System Trust Fund established under this subsection.
4079	(g)  Computation of disability retirement benefit.-The
4080	amount of each monthly payment must shall be calculated in the
4081	same manner as provided for members of the defined benefit
4082	program of the Florida Retirement System under s. 121.091(4)(f).
4083	For such purpose, Creditable service under both the pension plan
4084	defined benefit program and the investment plan Public Employee
4085	Optional Retirement Program of the Florida Retirement System
4086	shall be applicable as provided under paragraph (b).
4087	(h)  Reapplication.-A member participant whose initial
4088	application for disability retirement is has been denied may
4089	reapply for disability benefits in the same manner, and under
4090	the same conditions, as provided for members of the defined
4091	benefit program of the Florida Retirement System under s.
4092	121.091(4)(g).
4093	(i)  Membership.-Upon approval of a member's an application
4094	for disability benefits under this subsection, the member
4095	applicant shall be transferred to the pension plan defined
4096	benefit program of the Florida Retirement System, effective upon
4097	his or her disability retirement effective date.
4098	(j)  Option to cancel.-A member Any participant whose
4099	application for disability benefits is approved may cancel the
4100	his or her application if for disability benefits, provided that
4101	the cancellation request is received by the division before a
4102	disability retirement warrant has been deposited, cashed, or
4103	received by direct deposit. Upon such cancellation:
4104	1.  The member's participant's transfer to the pension plan
4105	defined benefit program under paragraph (i) shall be nullified;
4106	2.  The member participant shall be retroactively
4107	reinstated in the investment plan Public Employee Optional
4108	Retirement Program without hiatus;
4109	3.  All funds transferred to the Florida Retirement System
4110	Trust Fund under paragraph (a) must shall be returned to the
4111	member participant accounts from which the such funds were
4112	drawn; and
4113	4.  The member participant may elect to receive the benefit
4114	payable under the provisions of subsection (1) in lieu of
4115	disability benefits as provided under this subsection.
4116	(k)  Recovery from disability.-
4117	1.  The division may require periodic reexaminations at the
4118	expense of the disability program account of the Florida
4119	Retirement System Trust Fund. Except as otherwise provided in
4120	subparagraph 2., the requirements, procedures, and restrictions
4121	relating to the conduct and review of such reexaminations,
4122	discontinuation or termination of benefits, reentry into
4123	employment, disability retirement after reentry into covered
4124	employment, and all other matters relating to recovery from
4125	disability shall be the same as provided are set forth under s.
4126	121.091(4)(h).
4127	2.  Upon recovery from disability, the any recipient of
4128	disability retirement benefits under this subsection shall be a
4129	compulsory member of the investment plan Public Employee
4130	Optional Retirement Program of the Florida Retirement System.
4131	The net difference between the recipient's original account
4132	balance transferred to the Florida Retirement System Trust Fund,
4133	including earnings, under paragraph (a) and total disability
4134	benefits paid to such recipient, if any, shall be determined as
4135	provided in sub-subparagraph a.
4136	a.  An amount equal to the total benefits paid shall be
4137	subtracted from that portion of the transferred account balance
4138	consisting of vested accumulations as described under s.
4139	121.4501(6), if any, and an amount equal to the remainder of
4140	benefit amounts paid, if any, shall then be subtracted from any
4141	remaining portion consisting of nonvested accumulations as
4142	described under s. 121.4501(6).
4143	b.  Amounts subtracted under sub-subparagraph a. must shall
4144	be retained within the disability account of the Florida
4145	Retirement System Trust Fund. Any remaining account balance
4146	shall be transferred to the third-party administrator for
4147	disposition as provided under sub-subparagraph c. or sub-
4148	subparagraph d., as appropriate.
4149	c.  If the recipient returns to covered employment,
4150	transferred amounts must shall be deposited in individual
4151	accounts under the investment plan Public Employee Optional
4152	Retirement Program, as directed by the member participant.
4153	Vested and nonvested amounts shall be separately accounted for
4154	as provided in s. 121.4501(6).
4155	d.  If the recipient fails to return to covered employment
4156	upon recovery from disability:
4157	(I)  Any remaining vested amount must shall be deposited in
4158	individual accounts under the investment plan Public Employee
4159	Optional Retirement Program, as directed by the member
4160	participant, and is shall be payable as provided in subsection
4161	(1).
4162	(II)  Any remaining nonvested amount must shall be held in
4163	a suspense account and is shall be forfeitable after 5 years as
4164	provided in s. 121.4501(6).
4165	3.  If present value was reassigned from the pension plan
4166	defined benefit program to the disability program of the Florida
4167	Retirement System as provided under subparagraph (a)2., the full
4168	present value amount must shall be returned to the defined
4169	benefit account within the Florida Retirement System Trust Fund
4170	and the member's affected individual's associated retirement
4171	credit under the pension plan must defined benefit program shall
4172	be reinstated in full. Any benefit based upon such credit must
4173	shall be calculated as provided in s. 121.091(4)(h)1.
4174	(l)  Nonadmissible causes of disability.-A member is
4175	participant shall not be entitled to receive a disability
4176	retirement benefit if the disability results from any injury or
4177	disease sustained or inflicted as described in s. 121.091(4)(i).
4178	(m)  Disability retirement of justice or judge by order of
4179	Supreme Court.-
4180	1.  If a member participant is a justice of the Supreme
4181	Court, judge of a district court of appeal, circuit judge, or
4182	judge of a county court who has served for 6 years or more as an
4183	elected constitutional judicial officer, including service as a
4184	judicial officer in any court abolished pursuant to Art. V of
4185	the State Constitution, and who is retired for disability by
4186	order of the Supreme Court upon recommendation of the Judicial
4187	Qualifications Commission pursuant to s. 12, the provisions of
4188	Art. V of the State Constitution, the member's participant's
4189	Option 1 monthly disability benefit amount as provided in s.
4190	121.091(6)(a)1. shall be two-thirds of his or her monthly
4191	compensation as of the member's participant's disability
4192	retirement date. The member Such a participant may alternatively
4193	elect to receive an actuarially adjusted disability retirement
4194	benefit under any other option as provided in s. 121.091(6)(a),
4195	or to receive the normal benefit payable under the Public
4196	Employee Optional Retirement Program as set forth in subsection
4197	(1).
4198	2.  If any justice or judge who is a member participant of
4199	the investment plan Public Employee Optional Retirement Program
4200	of the Florida Retirement System is retired for disability by
4201	order of the Supreme Court upon recommendation of the Judicial
4202	Qualifications Commission pursuant to s. 12, the provisions of
4203	Art. V of the State Constitution and elects to receive a monthly
4204	disability benefit under the provisions of this paragraph:
4205	a.  Any present value amount that was transferred to his or
4206	her investment plan program account and all employee and
4207	employer contributions made to such account on his or her
4208	behalf, plus interest and earnings thereon, must shall be
4209	transferred to and deposited in the disability account of the
4210	Florida Retirement System Trust Fund; and
4211	b.  The monthly disability benefits payable under this
4212	paragraph for any affected justice or judge retired from the
4213	Florida Retirement System pursuant to Art. V of the State
4214	Constitution shall be paid from the disability account of the
4215	Florida Retirement System Trust Fund.
4216	(n)  Death of retiree or beneficiary.-Upon the death of a
4217	disabled retiree or beneficiary of the retiree thereof who is
4218	receiving monthly disability benefits under this subsection, the
4219	monthly benefits shall be paid through the last day of the month
4220	of death and shall terminate, or be adjusted, if applicable, as
4221	of that date in accordance with the optional form of benefit
4222	selected at the time of retirement. The department of Management
4223	Services may adopt rules necessary to administer this paragraph.
4224	(3)  DEATH BENEFITS.-Under the investment plan Public
4225	Employee Optional Retirement Program:
4226	(a)  Survivor benefits are shall be payable in accordance
4227	with the following terms and conditions:
4228	1.  To the extent vested, benefits are shall be payable
4229	only to a member's participant's beneficiary or beneficiaries as
4230	designated by the member participant as provided in s.
4231	121.4501(20).
4232	2.  Benefits shall be paid by the third-party administrator
4233	or designated approved providers in accordance with the law, the
4234	contracts, and any applicable state board rule or policy.
4235	3.  To receive benefits under this subsection, the member
4236	participant must be deceased.
4237	(b)  In the event of a member's participant's death, all
4238	vested accumulations as described in s. 121.4501(6), less
4239	withholding taxes remitted to the Internal Revenue Service,
4240	shall be distributed, as provided in paragraph (c) or as
4241	described in s. 121.4501(20), as if the member participant
4242	retired on the date of death. No other death benefits are shall
4243	be available for survivors of members participants under the
4244	Public Employee Optional Retirement Program, except for such
4245	benefits, or coverage for such benefits, as are otherwise
4246	provided by law or are separately provided afforded by the
4247	employer, at the employer's discretion.
4248	(c)  Upon receipt by the third-party administrator of a
4249	properly executed application for distribution of benefits, the
4250	total accumulated benefit is shall be payable by the third-party
4251	administrator to the member's participant's surviving
4252	beneficiary or beneficiaries, as:
4253	1.  A lump-sum distribution payable to the beneficiary or
4254	beneficiaries, or to the deceased member's participant's estate;
4255	2.  An eligible rollover distribution, if permitted, on
4256	behalf of the surviving spouse of a deceased member participant,
4257	whereby all accrued benefits, plus interest and investment
4258	earnings, are paid from the deceased member's participant's
4259	account directly to the custodian of an eligible retirement
4260	plan, as described in s. 402(c)(8)(B) of the Internal Revenue
4261	Code, on behalf of the surviving spouse; or
4262	3.  A partial lump-sum payment whereby a portion of the
4263	accrued benefit is paid to the deceased member's participant's
4264	surviving spouse or other designated beneficiaries, less
4265	withholding taxes remitted to the Internal Revenue Service, and
4266	the remaining amount is transferred directly to the custodian of
4267	an eligible retirement plan, if permitted, as described in s.
4268	402(c)(8)(B) of the Internal Revenue Code, on behalf of the
4269	surviving spouse. The proportions must be specified by the
4270	member participant or the surviving beneficiary.
4271
4272	This paragraph does not abrogate other applicable provisions of
4273	state or federal law providing for payment of death benefits.
4274	(4)  LIMITATION ON LEGAL PROCESS.-The benefits payable to
4275	any person under the investment plan Public Employee Optional
4276	Retirement Program, and any contributions accumulated under the
4277	investment plan such program, are not subject to assignment,
4278	execution, attachment, or any legal process, except for
4279	qualified domestic relations orders by a court of competent
4280	jurisdiction, income deduction orders as provided in s. 61.1301,
4281	and federal income tax levies.
4282	Section 22.  Section 121.5911, Florida Statutes, is amended
4283	to read:
4284	121.5911  Disability retirement program; qualified status;
4285	rulemaking authority.-It is the intent of the Legislature that
4286	the disability retirement program for members participants of
4287	the investment plan Public Employee Optional Retirement Program
4288	as created in this act must meet all applicable requirements of
4289	federal law for a qualified plan. The department of Management
4290	Services shall seek a private letter ruling from the Internal
4291	Revenue Service on the disability retirement program for
4292	participants of the Public Employee Optional Retirement Program.
4293	Consistent with the private letter ruling, the department of
4294	Management Services shall adopt any necessary rules necessary
4295	required to maintain the qualified status of the disability
4296	retirement program and the Florida Retirement System pension
4297	defined benefit plan.
4298	Section 23.  Section 121.70, Florida Statutes, is amended
4299	to read:
4300	121.70  Legislative purpose and intent.-
4301	(1)  This part provides for a uniform system for funding
4302	benefits provided under the Florida Retirement System Pension
4303	Plan defined benefit program established under part I of this
4304	chapter (referred to in this part as the pension plan defined
4305	benefit program) and under the Florida Retirement System
4306	Investment Plan Public Employee Optional Retirement Program
4307	established under part II of this chapter (referred to in this
4308	part as the investment plan optional retirement program). The
4309	Legislature recognizes and declares that the Florida Retirement
4310	System is a single retirement system, consisting of two
4311	retirement plans and other nonintegrated programs. Employees and
4312	employers participating in the Florida Retirement System
4313	collectively shall be responsible for making contributions to
4314	support the benefits provided afforded under both plans. The
4315	employees and As provided in this part, employers participating
4316	in the Florida Retirement System shall make contributions based
4317	upon uniform contribution rates determined as a percentage of
4318	the employee's gross monthly compensation total payroll for the
4319	employee's each class or subclass of Florida Retirement System
4320	membership, irrespective of the which retirement plan in which
4321	the individual employee is enrolled employees may elect. This
4322	shall be known as a uniform or blended contribution rate system.
4323	(2)  In establishing a uniform contribution rate system, it
4324	is the intent of the Legislature to:
4325	(a)  Provide greater stability and certainty in financial
4326	planning and budgeting for Florida Retirement System employers
4327	by eliminating the fiscal instability that would be caused by
4328	dual rates coupled with employee-selected plan participation;
4329	(b)  Provide greater fiscal equity and uniformity for
4330	system employers by effectively distributing the financial
4331	burden and benefit of short-term system deficits and surpluses,
4332	respectively, in proportion to total system payroll; and
4333	(c)  Allow employees to make their retirement plan
4334	selection decisions free of circumstances that may cause
4335	employers to favor one plan choice over another.
4336	Section 24.  Section 121.71, Florida Statutes, is amended
4337	to read:
4338	121.71  Uniform rates; process; calculations; levy.-
4339	(1)  In conducting the system actuarial study required
4340	under s. 121.031, the actuary shall follow all requirements
4341	specified thereunder to determine, by Florida Retirement System
4342	employee membership class, the dollar contribution amounts
4343	necessary for the next forthcoming fiscal year for the pension
4344	plan defined benefit program. In addition, the actuary shall
4345	determine, by Florida Retirement System membership class, based
4346	on an estimate for the next forthcoming fiscal year of the gross
4347	compensation of employees participating in the investment plan
4348	optional retirement program, the dollar contribution amounts
4349	necessary to make the allocations required under ss. 121.72 and
4350	121.73. For each employee membership class and subclass, the
4351	actuarial study must shall establish a uniform rate necessary to
4352	fund the benefit obligations under both Florida Retirement
4353	System retirement plans by dividing the sum of total dollars
4354	required by the estimated gross compensation of members in both
4355	plans.
4356	(2)  Based on the uniform rates set forth in subsections
4357	subsection (3), (4), and (5), employees and employers shall make
4358	monthly contributions to the Division of Retirement as required
4359	in s. 121.061(1), which shall initially deposit the funds into
4360	the Florida Retirement System Contributions Clearing Trust Fund.
4361	A change in a contribution rate is effective the first day of
4362	the month for which a full month's employee and employer
4363	contribution may be made on or after the beginning date of the
4364	change. Beginning July 1, 2011, each employee shall contribute
4365	the contributions required in subsection (3). The employer shall
4366	deduct the contribution from the employee's monthly salary, and
4367	the contribution shall be submitted to the Division of
4368	Retirement. These contributions shall be reported as employer-
4369	paid employee contributions, and shall be credited to the
4370	account of the employee. The contributions shall be deducted
4371	from the employee's salary before the computation of applicable
4372	federal taxes and shall be treated as employer contributions
4373	under 26 U.S.C. s. 414(h)(2). The employee specifies that the
4374	contributions, although designated as employee contributions,
4375	are being paid by the employer in lieu of contributions by the
4376	employee. The employee shall not have the option of choosing to
4377	receive the contributed amounts directly instead of having them
4378	paid by the employer to the plan. Such contributions are
4379	mandatory and each employee shall be considered to consent to
4380	payroll deductions. Payment of an employee's salary or wages,
4381	less the contribution, is a full and complete discharge and
4382	satisfaction of all claims and demands for the service rendered
4383	by employees during the period covered by the payment, except
4384	their claims to the benefits to which they may be entitled under
4385	the provisions of this chapter.
4386	(3)  Required employee retirement contribution rates for
4387	each membership class of the Florida Retirement System for both
4388	retirement plans are as follows:
	Membership Class Percentage of Gross Compensation,Effective July 1, 2011
4389
	Regular Class 3.00%
4390
	Special Risk Class 3.00%
4391
	Special Risk Administrative Support Class 3.00%
4392
	Elected Officers' Class 3.00%
4393
	Senior Management Class 3.00%
4394
	DROP 0.00%
4395
4396	(4)(3)  Required employer retirement contribution rates for
4397	each membership class and subclass of the Florida Retirement
4398	System for both retirement plans are as follows:
4399
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
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	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
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	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2011 2009
	Membership Class Percentage ofGrossCompensation,EffectiveJuly 1, 2012 2010
4400
4401
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 9.63%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 9.63%
	Regular Class 6.16% 8.69%
	Regular Class 6.16% 8.69%
	Regular Class
4402

CODING: Words stricken are deletions; words underlined are additions.