Senate Bill 0094c1
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 94
By the Committee on Fiscal Policy and Senator Brown-Waite
309-1671-00
1 A bill to be entitled
2 An act relating to the Florida Retirement
3 System; amending s. 121.091, F.S.; increasing
4 the disability retirement benefit for members
5 of the special risk class; providing for
6 contribution-rate increases to fund this act;
7 directing the Division of Statutory Revision to
8 adjust contribution rates set forth in s.
9 121.071, F.S.; declaring that this act fulfills
10 an important state interest; providing an
11 effective date.
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13 Be It Enacted by the Legislature of the State of Florida:
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15 Section 1. Paragraph (f) of subsection (4) of section
16 121.091, Florida Statutes, is amended to read:
17 121.091 Benefits payable under the system.--Benefits
18 may not be paid under this section unless the member has
19 terminated employment as provided in s. 121.021(39)(a) or
20 begun participation in the Deferred Retirement Option Program
21 as provided in subsection (13), and a proper application has
22 been filed in the manner prescribed by the department. The
23 department may cancel an application for retirement benefits
24 when the member or beneficiary fails to timely provide the
25 information and documents required by this chapter and the
26 department's rules. The department shall adopt rules
27 establishing procedures for application for retirement
28 benefits and for the cancellation of such application when the
29 required information or documents are not received.
30 (4) DISABILITY RETIREMENT BENEFIT.--
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1
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 94
309-1671-00
1 (f) Computation of disability retirement benefit.--The
2 amount of each monthly payment shall be computed in the same
3 manner as for a normal retirement benefit, in accordance with
4 subsection (1), but shall be based on disability option
5 actuarial equivalency tables and the average monthly
6 compensation and creditable service of the member as of the
7 disability retirement date, subject to the following
8 conditions:
9 1. If the member's disability occurred in the line of
10 duty, the monthly Option 1 benefit shall not be less than:
11 a. Forty-two 42 percent of average monthly
12 compensation as of the disability retirement date; or
13 b. Sixty-five percent of the average monthly
14 compensation as of the disability retirement date for a member
15 of the special risk class who retires on or after July 1,
16 2000; or
17 2. If the member's disability occurred other than in
18 the line of duty, the monthly Option 1 benefit shall not be
19 less than 25 percent of average monthly compensation as of the
20 disability retirement date.
21 Section 2. Effective July 1, 2000, in order to fund
22 the benefits provided under section 1 of this act:
23 (1) The contribution rates that apply to the Special
24 Risk Class of the Florida Retirement System shall be increased
25 by 0.13 percentage points; and
26 (2) The contribution rates that apply to the Special
27 Risk Administrative Support Class of the Florida Retirement
28 System shall be increased by 0.21 percentage points.
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30 These increases shall be in addition to all other changes to
31 such contribution rates which may be enacted into law to take
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 CS for SB 94
309-1671-00
1 effect on that date. The Division of Statutory Revision is
2 directed to adjust accordingly the contribution rates set
3 forth in section 121.071, Florida Statutes.
4 Section 3. The Legislature finds that a proper and
5 legitimate state purpose is served when employees and retirees
6 of the state and of its political subdivisions, and the
7 dependents, survivors, and beneficiaries of such employees and
8 retirees, are extended the basic protections afforded by
9 governmental retirement systems that provide fair and adequate
10 benefits that are managed, administered, and funded in an
11 actuarially sound manner, as required by Section 14, Article X
12 of the State Constitution and part VII of chapter 112, Florida
13 Statutes. Therefore, the Legislature determines and declares
14 that this act fulfills an important state interest.
15 Section 4. This act shall take effect July 1, 2000.
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17 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
18 sb0094
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20 Clarifies that the improved disability benefits are for those
members of the special risk class that retire on or after July
21 1, 2000.
22 Provides an effective date of July 1, 2000.
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