Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 2024
       
       
       
       
       
       
                                Barcode 342150                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/26/2012           .                                
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       The Committee on Governmental Oversight and Accountability
       (Latvala) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 116 - 461
    4  and insert:
    5         Section 2. Paragraph (a) of subsection (3) and subsection
    6  (5) of section 121.053, Florida Statutes, are amended to read:
    7         121.053 Participation in the Elected Officers’ Class for
    8  retired members.—
    9         (3) On or after July 1, 2010:
   10         (a) A retiree of a state-administered retirement system who
   11  is elected or appointed for the first time to an elective office
   12  in a regularly established position with a covered employer may
   13  not reenroll in the Florida Retirement System, except as
   14  provided in s. 121.122.
   15         (5) A Any renewed member, as described in subsection (1) or
   16  in s. 121.122(3), (4), or (5) subsection (2), who is not
   17  receiving the maximum health insurance subsidy provided in s.
   18  112.363 is entitled to earn additional credit toward the maximum
   19  health insurance subsidy. Any additional subsidy due because of
   20  the such additional credit may be received only at the time of
   21  payment of the second career retirement benefit. The total
   22  health insurance subsidy received from initial and renewed
   23  membership may not exceed the maximum allowed in s. 112.363.
   24         Section 3. Paragraph (f) of subsection (1) and paragraphs
   25  (c) and (e) of subsection (6) of section 121.055, Florida
   26  Statutes, are amended to read:
   27         121.055 Senior Management Service Class.—There is hereby
   28  established a separate class of membership within the Florida
   29  Retirement System to be known as the “Senior Management Service
   30  Class,” which shall become effective February 1, 1987.
   31         (1)
   32         (f) Effective July 1, 1997:
   33         1. Except as provided in subparagraph 3., an elected state
   34  officer eligible for membership in the Elected Officers’ Class
   35  under s. 121.052(2)(a), (b), or (c) who elects membership in the
   36  Senior Management Service Class under s. 121.052(3)(c) may,
   37  within 6 months after assuming office or within 6 months after
   38  this act becomes a law for serving elected state officers, elect
   39  to participate in the Senior Management Service Optional Annuity
   40  Program, as provided in subsection (6), in lieu of membership in
   41  the Senior Management Service Class.
   42         2. Except as provided in subparagraph 3., an elected
   43  officer of a local agency employer eligible for membership in
   44  the Elected Officers’ Class under s. 121.052(2)(d) who elects
   45  membership in the Senior Management Service Class under s.
   46  121.052(3)(c) may, within 6 months after assuming office, or
   47  within 6 months after this act becomes a law for serving elected
   48  officers of a local agency employer, elect to withdraw from the
   49  Florida Retirement System, as provided in subparagraph (b)2., in
   50  lieu of membership in the Senior Management Service Class.
   51         3. A retiree of a state-administered retirement system who
   52  is a member of the pension plan and is initially reemployed on
   53  or after July 1, 2010, as an elected official eligible for the
   54  Elected Officers’ Class may not renew membership in the Senior
   55  Management Service Class or in the Senior Management Service
   56  Optional Annuity Program as provided in subsection (6), and may
   57  not withdraw from the Florida Retirement System as a renewed
   58  member as provided in subparagraph (b)2., as applicable, in lieu
   59  of membership in the Senior Management Service Class. Effective
   60  July 1, 2012, a retiree who is a member of the Senior Management
   61  Service Optional Annuity Program and returns to covered
   62  employment shall be a mandatory member of the investment plan as
   63  provided in s. 121.122.
   64         (6)
   65         (c) Participation.—
   66         1. An eligible employee who is employed on or before
   67  February 1, 1987, may elect to participate in the optional
   68  annuity program in lieu of participating in the Senior
   69  Management Service Class. Such election must be made in writing
   70  and filed with the department and the personnel officer of the
   71  employer on or before May 1, 1987. An eligible employee who is
   72  employed on or before February 1, 1987, and who fails to make an
   73  election to participate in the optional annuity program by May
   74  1, 1987, shall be deemed to have elected membership in the
   75  Senior Management Service Class.
   76         2. Except as provided in subparagraph 6., an employee who
   77  becomes eligible to participate in the optional annuity program
   78  by reason of initial employment commencing after February 1,
   79  1987, may, within 90 days after the date of commencing
   80  employment, elect to participate in the optional annuity
   81  program. Such election must be made in writing and filed with
   82  the personnel officer of the employer. An eligible employee who
   83  does not within 90 days after commencing employment elect to
   84  participate in the optional annuity program shall be deemed to
   85  have elected membership in the Senior Management Service Class.
   86         3. A person who is appointed to a position in the Senior
   87  Management Service Class and who is a member of an existing
   88  retirement system or the Special Risk or Special Risk
   89  Administrative Support Classes of the Florida Retirement System
   90  may elect to remain in such system or class in lieu of
   91  participating in the Senior Management Service Class or optional
   92  annuity program. Such election must be made in writing and filed
   93  with the department and the personnel officer of the employer
   94  within 90 days after such appointment. An eligible employee who
   95  fails to make an election to participate in the existing system,
   96  the Special Risk Class of the Florida Retirement System, the
   97  Special Risk Administrative Support Class of the Florida
   98  Retirement System, or the optional annuity program shall be
   99  deemed to have elected membership in the Senior Management
  100  Service Class.
  101         4. Except as provided in subparagraph 5., an employee’s
  102  election to participate in the optional annuity program is
  103  irrevocable if the employee continues to be employed in an
  104  eligible position and continues to meet the eligibility
  105  requirements set forth in this paragraph.
  106         5. Effective from July 1, 2002, through September 30, 2002,
  107  an active employee in a regularly established position who has
  108  elected to participate in the Senior Management Service Optional
  109  Annuity Program has one opportunity to choose to move from the
  110  Senior Management Service Optional Annuity Program to the
  111  Florida Retirement System Pension Plan.
  112         a. The election must be made in writing and must be filed
  113  with the department and the personnel officer of the employer
  114  before October 1, 2002, or, in the case of an active employee
  115  who is on a leave of absence on July 1, 2002, within 90 days
  116  after the conclusion of the leave of absence. This election is
  117  irrevocable.
  118         b. The employee shall receive service credit under the
  119  pension plan equal to his or her years of service under the
  120  Senior Management Service Optional Annuity Program. The cost for
  121  such credit is the amount representing the present value of that
  122  employee’s accumulated benefit obligation for the affected
  123  period of service.
  124         c. The employee must transfer the total accumulated
  125  employer contributions and earnings on deposit in his or her
  126  Senior Management Service Optional Annuity Program account. If
  127  the transferred amount is not sufficient to pay the amount due,
  128  the employee must pay a sum representing the remainder of the
  129  amount due. The employee may not retain any employer
  130  contributions or earnings from the Senior Management Service
  131  Optional Annuity Program account.
  132         6. A retiree of a state-administered retirement system who
  133  is initially reemployed on or after July 1, 2010, may not renew
  134  membership in the Senior Management Service Optional Annuity
  135  Program. Effective July 1, 2012, a retiree who is a member of
  136  the Senior Management Service Optional Annuity Program and
  137  returns to covered employment shall be a mandatory member of the
  138  investment plan as provided in s. 121.122.
  139         (e) Benefits.—
  140         1. Benefits under the Senior Management Service Optional
  141  Annuity Program are payable only to members of the program, or
  142  their beneficiaries as designated by the member in the contract
  143  with the provider company, and must be paid by the designated
  144  company in accordance with the terms of the annuity contract
  145  applicable to the member. A member must be terminated from all
  146  employment relationships with Florida Retirement System
  147  employers for 3 calendar months to begin receiving the employer
  148  funded and employee-funded benefit. The member must meet the
  149  definition of termination in s. 121.021(39) beginning the month
  150  after receiving a benefit, including a distribution. Benefits
  151  funded by employer and employee contributions are payable under
  152  the terms of the contract to the member, his or her beneficiary,
  153  or his or her estate, in addition to:
  154         a. A lump-sum payment to the beneficiary upon the death of
  155  the member;
  156         b. A cash-out of a de minimis account upon the request of a
  157  former member who has been terminated for a minimum of 6
  158  calendar months from the employment that entitled him or her to
  159  optional annuity program participation. Such cash-out must be a
  160  complete liquidation of the account balance with that company
  161  and is subject to the Internal Revenue Code;
  162         c. A mandatory distribution of a de minimis account of a
  163  former member who has been terminated for a minimum of 6
  164  calendar months from the employment that entitled him or her to
  165  optional annuity program participation as authorized by the
  166  department; or
  167         d. A lump-sum direct rollover distribution whereby all
  168  accrued benefits, plus interest and investment earnings, are
  169  paid from the member’s account directly to the custodian of an
  170  eligible retirement plan, as defined in s. 402(c)(8)(B) of the
  171  Internal Revenue Code, on behalf of the member.
  172         2. Under the Senior Management Service Optional Annuity
  173  Program, benefits, including employee contributions, are not
  174  payable for employee hardships, unforeseeable emergencies,
  175  loans, medical expenses, educational expenses, purchase of a
  176  principal residence, payments necessary to prevent eviction or
  177  foreclosure on an employee’s principal residence, or any other
  178  reason except for a requested distribution for retirement, a
  179  mandatory de minimis distribution authorized by the
  180  administrator, or a minimum distribution required pursuant to
  181  the Internal Revenue Code before termination from all employment
  182  relationships with participating employers for 3 calendar
  183  months.
  184         3. The benefits payable to a any person under the Senior
  185  Management Service Optional Annuity Program, and any
  186  contribution accumulated under such program, are not subject to
  187  assignment, execution, or attachment or to any legal process
  188  whatsoever.
  189         4. Except as provided in subparagraph 5., a member who
  190  terminates employment and receives a distribution, including a
  191  rollover or trustee-to-trustee transfer, funded by employer and
  192  required employee contributions is a retiree of deemed to be
  193  retired from a state-administered retirement system. Such
  194  retiree, who is initially reemployed in a regularly established
  195  position on or after July 1, 2010, may not be enrolled as a
  196  renewed member if the member is subsequently employed with an
  197  employer that participates in the Florida Retirement System.
  198         5. A member who receives optional annuity program benefits
  199  funded by employer and employee contributions as a mandatory
  200  distribution of a de minimis account authorized by the
  201  department is not considered a retiree.
  202  
  203  As used in this paragraph, a “de minimis account” means an
  204  account with a provider company containing employer and employee
  205  contributions and accumulated earnings of up to not more than
  206  $5,000 made under this chapter.
  207         Section 4. Subsection (7) of section 121.071, Florida
  208  Statutes, is amended to read:
  209         121.071 Contributions.—Contributions to the system shall be
  210  made as follows:
  211         (7) Before termination of employment, Benefits, including
  212  employee contributions, are not payable under the pension plan
  213  for employee hardships, unforeseeable emergencies, loans,
  214  medical expenses, educational expenses, purchase of a principal
  215  residence, payments necessary to prevent eviction or foreclosure
  216  on an employee’s principal residence, or any other reason except
  217  for payment of retirement benefits, a refund of employee
  218  contributions, or a minimum distribution required pursuant to
  219  the Internal Revenue Code before termination from all employment
  220  relationships with participating employers.
  221         Section 5. Paragraph (a) of subsection (13) of section
  222  121.091, Florida Statutes, is amended to read:
  223         121.091 Benefits payable under the system.—Benefits may not
  224  be paid under this section unless the member has terminated
  225  employment as provided in s. 121.021(39)(a) or begun
  226  participation in the Deferred Retirement Option Program as
  227  provided in subsection (13), and a proper application has been
  228  filed in the manner prescribed by the department. The department
  229  may cancel an application for retirement benefits when the
  230  member or beneficiary fails to timely provide the information
  231  and documents required by this chapter and the department’s
  232  rules. The department shall adopt rules establishing procedures
  233  for application for retirement benefits and for the cancellation
  234  of such application when the required information or documents
  235  are not received.
  236         (13) DEFERRED RETIREMENT OPTION PROGRAM.—In general, and
  237  subject to this section, the Deferred Retirement Option Program,
  238  hereinafter referred to as DROP, is a program under which an
  239  eligible member of the Florida Retirement System may elect to
  240  participate, deferring receipt of retirement benefits while
  241  continuing employment with his or her Florida Retirement System
  242  employer. The deferred monthly benefits shall accrue in the
  243  Florida Retirement System on behalf of the member, plus interest
  244  compounded monthly, for the specified period of the DROP
  245  participation, as provided in paragraph (c). Upon termination of
  246  employment, the member shall receive the total DROP benefits and
  247  begin to receive the previously determined normal retirement
  248  benefits. Participation in the DROP does not guarantee
  249  employment for the specified period of DROP. Participation in
  250  DROP by an eligible member beyond the initial 60-month period as
  251  authorized in this subsection shall be on an annual contractual
  252  basis for all participants.
  253         (a) Eligibility of member to participate in DROP.—All
  254  active Florida Retirement System members in a regularly
  255  established position, and all active members of the Teachers’
  256  Retirement System established in chapter 238 or the State and
  257  County Officers’ and Employees’ Retirement System established in
  258  chapter 122, which are consolidated within the Florida
  259  Retirement System under s. 121.011, may participate are eligible
  260  to elect participation in DROP if:
  261         1. The member is not a renewed member under s. 121.122 or a
  262  member of the State Community College System Optional Retirement
  263  Program under s. 121.051, the Senior Management Service Optional
  264  Annuity Program under s. 121.055, or the optional retirement
  265  program for the State University System under s. 121.35.
  266         2. Except as provided in subparagraph 6., for members
  267  initially enrolled before July 1, 2011, election to participate
  268  must be is made within 12 months immediately following the date
  269  on which the member first reaches normal retirement date;, or,
  270  for a member who reaches normal retirement date based on service
  271  before he or she reaches age 62, or age 55 for Special Risk
  272  Class members, election to participate may be deferred to the 12
  273  months immediately following the date the member attains age 57,
  274  or age 52 for Special Risk Class members. Except as provided in
  275  subparagraph 6., for members initially enrolled on or after July
  276  1, 2011, election to participate must be made within the 12
  277  months immediately following the date on which the member first
  278  reaches normal retirement date; or, for a member who reaches
  279  normal retirement date based on service before he or she reaches
  280  age 65, or age 60 for Special Risk Class members, election to
  281  participate may be deferred to the 12 months immediately
  282  following the date the member attains age 60, or age 55 for
  283  Special Risk Class members. A member who delays DROP
  284  participation during the 12-month period immediately following
  285  his or her maximum DROP deferral date, except as provided in
  286  subparagraph 6., loses a month of DROP participation for each
  287  month delayed. A member who fails to make an election within the
  288  12-month limitation period forfeits all rights to participate in
  289  DROP. The member shall advise his or her employer and the
  290  division in writing of the date DROP begins. The beginning date
  291  may be subsequent to the 12-month election period but must be
  292  within the original 60-month participation period provided in
  293  subparagraph (b)1. When establishing eligibility to participate
  294  in DROP, the member may elect to include or exclude any optional
  295  service credit purchased by the member from the total service
  296  used to establish the normal retirement date. A member who has
  297  dual normal retirement dates may is eligible to elect to
  298  participate in DROP after attaining normal retirement date in
  299  either class.
  300         3. The employer of a member electing to participate in
  301  DROP, or employers if dually employed, shall acknowledge in
  302  writing to the division the date the member’s participation in
  303  DROP begins and the date the member’s employment and DROP
  304  participation terminates.
  305         4. Simultaneous employment of a member by additional
  306  Florida Retirement System employers subsequent to the
  307  commencement of a member’s participation in DROP is permissible
  308  if such employers acknowledge in writing a DROP termination date
  309  no later than the member’s existing termination date or the
  310  maximum participation period provided in subparagraph (b)1.
  311         5. A member may change employers while participating in
  312  DROP, subject to the following:
  313         a. The A change of employment takes place without a break
  314  in service so that the member receives salary for each month of
  315  continuous DROP participation. If a member receives no salary
  316  during a month, DROP participation ceases unless the employer
  317  verifies a continuation of the employment relationship for such
  318  member pursuant to s. 121.021(39)(b).
  319         b. The member and new employer notify the division of the
  320  identity of the new employer on forms required by the division.
  321         c. The new employer acknowledges, in writing, the member’s
  322  DROP termination date, which may be extended but not beyond the
  323  maximum participation period provided in subparagraph (b)1.,
  324  acknowledges liability for any additional retirement
  325  contributions and interest required if the member fails to
  326  timely terminate employment, and is subject to the adjustment
  327  required in sub-subparagraph (c)5.d.
  328         6. Effective July 1, 2001, for instructional personnel as
  329  defined in s. 1012.01(2), election to participate in DROP may be
  330  made at any time following the date on which the member first
  331  reaches normal retirement date. The member shall advise his or
  332  her employer and the division in writing of the date on which
  333  DROP begins. When establishing eligibility of the member to
  334  participate in DROP for the 60-month participation period
  335  provided in subparagraph (b)1., the member may elect to include
  336  or exclude any optional service credit purchased by the member
  337  from the total service used to establish the normal retirement
  338  date. A member who has dual normal retirement dates is eligible
  339  to elect to participate in either class.
  340         Section 6. Subsection (2) of section 121.122, Florida
  341  Statutes, is amended, and subsections (3), (4), and (5) are
  342  added to that section, to read:
  343         121.122 Renewed membership in system.—
  344         (2) A retiree of a state-administered retirement system who
  345  is a member of the pension plan and is initially reemployed on
  346  or after July 1, 2010, is not eligible for renewed membership in
  347  the pension plan.
  348         (3) A retiree who is a member of the investment plan, the
  349  State University System Optional Retirement Program, the State
  350  Community College Optional Retirement Program, or the Senior
  351  Management Service Optional Annuity Program and is employed on
  352  or after July 1, 2010, until June 30, 2012, is not eligible for
  353  renewed membership. A retiree who is a member of such retirement
  354  plan and is employed on or after July 1, 2012, is a renewed
  355  member of the investment plan in the Regular Class, regardless
  356  of the position held, unless employed in a position eligible for
  357  participation in the State University Optional Retirement
  358  Program or the State Community College Optional Retirement
  359  Program as provided in subsections (4) and (5). The retiree must
  360  satisfy the vesting requirements and other provisions in this
  361  chapter.
  362         (a) Creditable service, including credit toward the retiree
  363  health insurance subsidy provided in s. 112.363, does not accrue
  364  for a retiree’s employment in a regularly established position
  365  with a covered employer during the period from July 1, 2010,
  366  until June 30, 2012.
  367         (b) The renewed member, or the employer on behalf of the
  368  member, may not pay employer and employee contributions,
  369  interest, earnings, or any other funds into a renewed member’s
  370  investment plan account for any employment in a regularly
  371  established position with a covered employer during the period
  372  from July 1, 2010, until June 30, 2012.
  373         (c) Upon the renewed membership of a retiree, the employer
  374  of such member and the member shall pay the applicable employer
  375  and employee contributions as required by ss. 112.363, 121.71,
  376  121.74, and 121.76. The contributions are payable only for
  377  employment in a regularly established position with a covered
  378  employer on or after July 1, 2012.
  379         (d) The member may not purchase any past service in the
  380  investment plan, including employment in a regularly established
  381  position with a covered employer during the period from July 1,
  382  2010, until June 30, 2012.
  383         (e) The member must meet the vesting requirements of the
  384  investment plan as provided in s. 121.4501(6) to be eligible to
  385  receive a retirement benefit.
  386         (f) The member is not entitled to disability benefits as
  387  provided in s. 121.091(4) or s. 121.591(2).
  388         (g) The member is subject to the employment after
  389  retirement limitations as provided in s. 121.091(9), as
  390  applicable.
  391         (h) The member must meet the termination from employment
  392  provisions as provided in s. 121.021(39).
  393         (i) A member who is a retired member of the investment plan
  394  and is not receiving the maximum health insurance subsidy
  395  provided in s. 112.363 is entitled to earn additional credit
  396  toward the subsidy. The credit may be earned only for employment
  397  in a regularly established position with a covered employer on
  398  or after July 1, 2012. Any additional subsidy due to the member
  399  because of additional credit may be received only at the time of
  400  paying the second career retirement benefit. The total health
  401  insurance subsidy received by a retiree receiving benefits from
  402  initial and renewed membership may not exceed the maximum
  403  allowed under s. 112.363.
  404         (4) A retiree who is a member of the investment plan, the
  405  State University System Optional Retirement Program, the State
  406  Community College Optional Retirement Program, or Senior
  407  Management Service Optional Annuity Program and is employed on
  408  or after July 1, 2012, in a regularly established position
  409  eligible for participation in the State University Optional
  410  Retirement Program shall become a renewed member of the optional
  411  retirement program. The renewed member must satisfy the vesting
  412  requirements and the other provisions provided in this chapter.
  413  The renewed member remains enrolled in the optional retirement
  414  program while employed in a position eligible for the optional
  415  retirement program. If employment in a different covered
  416  position results in the retiree becoming enrolled in the
  417  investment plan, the retiree is no longer eligible to
  418  participate in the optional retirement program unless employed
  419  in a mandatory position under s. 121.35.
  420         (a) The member is subject to the reemployment after
  421  retirement limitations provided in s. 121.091(9), as applicable.
  422         (b) The member must meet the termination from employment
  423  provisions as provided in s. 121.021(39).
  424         (c) Upon renewed membership of a retiree, the employer of
  425  the member and the member must pay the applicable employer and
  426  employee contributions as required by s. 121.35.
  427         (d) The member, or the employer on behalf of the member,
  428  may not purchase any past service in the optional retirement
  429  program or employment from July 1, 2010, until June 30, 2012,
  430  when renewed membership was not available.
  431         (5) A retiree who is a member of the investment plan, the
  432  State University System Optional Retirement Program, the State
  433  Community College Optional Retirement Program, or Senior
  434  Management Service Optional Annuity Program and is employed in a
  435  regularly established position eligible for participation in the
  436  State Community College Optional Retirement Program as provided
  437  in s. 121.051(2)(c)4. and who enrolled on or after July 1, 2012,
  438  shall become a renewed member of the optional retirement
  439  program. The renewed member must satisfy the eligibility
  440  requirements and other provisions provided in this chapter and
  441  s. 1012.875 for the optional retirement program. The renewed
  442  member remains enrolled in the optional retirement program while
  443  filling a position eligible for the optional retirement program.
  444  If employment in a different covered position results in the
  445  retiree becoming enrolled in the investment plan, the retiree is
  446  no longer eligible to participate in the optional retirement
  447  program.
  448         (a) The member is subject to the reemployment after
  449  retirement limitations provided in s. 121.091(9), as applicable.
  450         (b) The member must meet the termination from employment
  451  provisions as provided in s. 121.021(39).
  452         (c) Upon renewed membership of a retiree, the employer of
  453  such member and the member must pay the applicable employer and
  454  employee contributions as required by s. 121.35.
  455         (d) The member, or the employer on behalf of the member,
  456  may not purchase any past service in the optional retirement
  457  program or employment from July 1, 2010, until June 30, 2012,
  458  when renewed membership was not available.
  459         Section 7. Paragraphs (a), (b), (g), and (h) of subsection
  460  (5) of section 121.35, Florida Statutes, are amended to read:
  461         121.35 Optional retirement program for the State University
  462  System.—
  463         (5) BENEFITS.—
  464         (a) Benefits are payable under the optional retirement
  465  program only to vested members participating in the program, or
  466  their beneficiaries as designated by the member in the contract
  467  with a provider company, and such benefits shall be paid only by
  468  the designated company in accordance with s. 403(b) of the
  469  Internal Revenue Code and the terms of the annuity or investment
  470  contract or contracts applicable to the member. Benefits accrue
  471  in individual accounts that are member-directed, portable, and
  472  funded by employer and employee contributions and the earnings
  473  thereon. The member must be terminated for 3 calendar months
  474  from all employment relationships with all Florida Retirement
  475  System employers to begin receiving the benefit. Benefits funded
  476  by employer and employee contributions are payable in accordance
  477  with the following terms and conditions:
  478         1. Benefits shall be paid only to a participating member,
  479  to his or her beneficiaries, or to his or her estate, as
  480  designated by the member.
  481         2. Benefits shall be paid by the provider company or
  482  companies in accordance with the law, the provisions of the
  483  contract, and any applicable department rule or policy.
  484         3. In the event of a member’s death, moneys accumulated by,
  485  or on behalf of, the member, less withholding taxes remitted to
  486  the Internal Revenue Service, if any, shall be distributed to
  487  the member’s designated beneficiary or beneficiaries, or to the
  488  member’s estate, as if the member retired on the date of death,
  489  as provided in paragraph (d). No other death benefits are
  490  available to survivors of members under the optional retirement
  491  program except for such benefits, or coverage for such benefits,
  492  as are separately afforded by the employer, at the employer’s
  493  discretion.
  494         (b) Benefits, including employee contributions, are not
  495  payable for employee hardships, unforeseeable emergencies,
  496  loans, medical expenses, educational expenses, purchase of a
  497  principal residence, payments necessary to prevent eviction or
  498  foreclosure on an employee’s principal residence, or any other
  499  reason except for a requested distribution for retirement, a
  500  mandatory de minimis distribution authorized by the
  501  administrator, or a minimum distribution required pursuant to
  502  the Internal Revenue Code before termination from all employment
  503  relationships with participating employers for 3 calendar
  504  months.
  505         (g) Benefits funded by the participating member’s voluntary
  506  personal contributions may be paid out after termination of
  507  employment from all participating employers for 3 calendar
  508  months at any time and in any form within the limits provided in
  509  the contract between the member and the provider company. The
  510  member shall notify the provider company regarding the date and
  511  provisions under which he or she wants to receive the employee
  512  funded portion of the plan.
  513         (h) For purposes of this section, the term:
  514         1. “Benefit” means a distribution requested by the member
  515  or surviving beneficiary funded in part or in whole by the
  516  employer or required employee contributions, plus earnings, and
  517  includes the rollover of a distribution to another qualified
  518  plan.
  519         2. “Retiree” means a former participating member of the
  520  optional retirement program who has terminated employment and
  521  has taken a distribution as provided in this subsection, except
  522  for a mandatory distribution of a de minimis account authorized
  523  by the department.
  524         Section 8. Paragraph (e) of subsection (2) and paragraph
  525  (f) of subsection (4) of section 121.4501, Florida Statutes, are
  526  amended to read:
  527         121.4501 Florida Retirement System Investment Plan.—
  528         (2) DEFINITIONS.—As used in this part, the term:
  529         (e) “Eligible employee” means an officer or employee, as
  530  defined in s. 121.021, who:
  531         1. Is a member of, or is eligible for membership in, the
  532  Florida Retirement System, including any renewed member of the
  533  Florida Retirement System initially enrolled before July 1,
  534  2010; or
  535         2. Participates in, or is eligible to participate in, the
  536  Senior Management Service Optional Annuity Program as
  537  established under s. 121.055(6), the State Community College
  538  System Optional Retirement Program as established under s.
  539  121.051(2)(c), or the State University System Optional
  540  Retirement Program established under s. 121.35; or.
  541         3. Is a retired member of the investment plan, the State
  542  University System Optional Retirement Program, the State
  543  Community College Optional Retirement Program, or Senior
  544  Management Service Optional Annuity Program and is employed and
  545  enrolled on and after July 1, 2012, as provided in s. 121.122.
  546  
  547  The term does not include any member participating in the
  548  Deferred Retirement Option Program established under s.
  549  121.091(13), a retiree of a state-administered retirement system
  550  initially reemployed on or after July 1, 2010, except as
  551  provided in s. 121.122, or a mandatory participant of the State
  552  University System Optional Retirement Program established under
  553  s. 121.35.
  554         (4) PARTICIPATION; ENROLLMENT.—
  555         (f) A member of the investment plan who takes a
  556  distribution of any contributions from his or her investment
  557  plan account is considered a retiree. A retiree who is initially
  558  reemployed on or after July 1, 2010, until June 30, 2012, is not
  559  eligible for renewed membership except as provided in s.
  560  121.122. A retiree who is a member of the investment plan and is
  561  employed on or after July 1, 2012, in a regularly established
  562  position shall be a renewed member in the regular class of the
  563  investment plan as provided in s. 121.122.
  564  
  565  ================= T I T L E  A M E N D M E N T ================
  566         And the title is amended as follows:
  567         Delete lines 4 - 34
  568  and insert:
  569         s. 121.053, F.S.; providing an exception from the
  570         prohibition for reenrollment in the Florida Retirement
  571         System for a retiree who is elected or appointed for
  572         the first time; conforming provisions; amending s.
  573         121.055, F.S.; providing that certain retirees who
  574         return to covered employment are mandatory members of
  575         investment plans; specifying that a retiree who is
  576         reemployed in a regularly established position on or
  577         after a certain date may not be enrolled as a renewed
  578         member; amending s. 121.071, F.S.; providing
  579         exceptions from the prohibition against paying
  580         benefits for certain purposes under the pension plan;
  581         amending s. 121.091, F.S.; specifying the age of
  582         eligibility to participate in DROP for members
  583         enrolled after a certain date; amending s. 121.122,
  584         F.S.; specifying that a retiree who is reemployed in a
  585         regularly established position after a certain date
  586         may not be enrolled as a renewed member in the pension
  587         plan; providing that a retiree who is a member of the
  588         investment plan, the State University System Optional
  589         Retirement Program, the State Community College
  590         Optional Retirement Program, or the Senior Management
  591         Service Optional Annuity Program and is reemployed
  592         between certain dates is not eligible for renewed
  593         membership in a retirement plan; providing that a
  594         retiree who is a member of the investment plan, the
  595         State University System Optional Retirement Program,
  596         the State Community College Optional Retirement
  597         Program, or the Senior Management Service Optional
  598         Annuity Program and is reemployed after a certain date
  599         is eligible for renewed membership in a retirement
  600         plan, unless employed in a position eligible for
  601         participation in the State University Optional
  602         Retirement Program or the State Community College
  603         Retirement Program; providing conditions for
  604         eligibility and contributions; providing that a
  605         retiree who is a member of certain investment plans
  606         and is employed after a certain date in a regularly
  607         established position eligible for participation in the
  608         State University Optional Retirement Program shall
  609         become a renewed member of the optional retirement
  610         program; providing conditions for eligibility and
  611         contributions; providing that a retiree who is a
  612         member of certain investment plans and is employed
  613         after a certain date in a regularly established
  614         position eligible for participation in the State
  615         Community College Optional Retirement Program shall
  616         become a renewed member of the optional retirement
  617         program; providing conditions for eligibility and
  618         contributions; amending s. 121.35, F.S.; providing
  619         exceptions from the prohibition against paying
  620         benefits for certain purposes under the optional
  621         retirement program for the State University System;
  622         clarifying when voluntary contributions may be paid
  623         out; defining the term “benefit” for the purposes of
  624         the optional retirement program; amending s. 121.4501,
  625         F.S.; redefining the term “eligible employee” to
  626         include a retired member of an investment plan, the
  627         State University System Optional Retirement Program,
  628         the State Community College Optional Retirement
  629         Program, or Senior Management Service Optional Annuity
  630         Program who is reemployed and initially enrolled after
  631         a certain date; providing an exception to the
  632         prohibition for renewed membership to a retiree who is
  633         reemployed; amending s. 121.591, F.S.; providing