Fla. Admin. Code Ann. R. 60S-4.002 - Statements of Policy
(1) All benefits
and refunds of accumulated contributions provided for under this chapter shall
be payable only upon termination of employment as defined in Rule
60S-6.001, F.A.C, and proper
application to the Division as provided in Rule
60S-4.0035, F.A.C.
(2) Benefits provided for in this chapter,
except for a refund of contributions and lump-sum benefits payable upon the
death of a retired member, shall be payable in monthly installments. Benefits
will begin to accrue on the effective date of retirement and will be payable on
the last work day of each month.
(3) A member's initial benefit as defined in
Rule 60S-6.001, F.A.C., before
adjustments for option 2, 3, or 4, may not exceed the lesser of 100% of the
member's average final compensation or the prescribed federal limits in
accordance with Internal Revenue Code Section 415 and rulings pertaining
thereto. If a member participates in any other plan maintained by an employer,
benefits that accrue under the Florida Retirement System shall be considered
primary for any aggregate limitation applicable under Internal Revenue Code
Section 415.
(4) After a retirement
benefit payment has been cashed or deposited or after a DROP payment is
credited:
(a) No additional service, which
remained unclaimed at retirement, may be claimed or purchased;
(b) The selection of an option may not be
changed; and
(c) The type of
retirement, i.e. normal, early, or disability, may not be changed, except for
the following:
1. When a member recovers from
disability and subsequently applies for normal or early retirement as provided
in subsections 60S-4.007(8) and
(9), F.A.C.,
2. When a member begins receiving normal or
early service retirement benefits while appealing a denial of his or her
application for disability retirement and such disability application is
subsequently approved as provided in paragraph
60S-4.007(3)(g),
F.A.C.; or
3. When an elected
officer requests, prior to July 1, 1990, that his or her benefit be suspended
and recalculated as provided in paragraph
60S-4.012(6)(b),
F.A.C.
(5) Any
person who retires under the noncontributory retirement plan for state officers
and employees established by Section
112.05, F.S., shall forfeit all
rights and benefits under the Florida Retirement System, except for a refund of
his or her accumulated contributions.
(6) Any member who is convicted by a court of
competent jurisdiction of causing a shortage in a public account, when such
shortage is certified by the Auditor General of the State, or a certified
public accountant, may not retire or receive any benefits under the Florida
Retirement System so long as such shortage exists.
(7) A person who is retired under the Florida
Retirement System may not have his or her monthly retirement benefit reduced
for the purpose of preserving his or her eligibility for pensions or benefits
under some other state or federal program. A person may refuse application of
the minimum benefit or the Retiree Health Insurance Subsidy.
(8) Immediately upon reducing, suspending or
terminating a benefit or, if possible, prior to taking such action, the
Division may give notice in writing to each person known by the Division to be
substantially affected by the action. The notice shall:
(a) State the nature of the action and the
reason for it.
(b) State that a
person who does not agree with the action may request a hearing on the decision
by filing, within 21 days of receipt of the notice, a petition prepared in
accordance with Rule 28-106.201, F.A.C.
(c) State that a person who does not file a
petition within 21 days of receipt of the notice shall have waived his or her
right to request a hearing on the decision.
(d) Include a reference to this rule and a
copy of Rule 28-106.201,
F.A.C.
(9) To ensure the
removal of names of deceased payees from the benefit payroll, the Division
shall, at least once each year, conduct an audit of all payees to confirm that
the payees being paid are still living. The Division may require payees for
whom vital statistics are not available to demonstrate proof of life. Proof of
life may be demonstrated through a provider company under contract with, and
paid for by, the Department, or by submission of a completed Form SAPS (Rev.
12/23), http://www.flrules.org/Gateway/reference.asp?No=Ref-16173,
Florida Retirement System Statement Attesting to Payee Status, which is
incorporated herein by reference. When the reported death of a payee cannot be
verified from vital statistics records the Division may require verification
through a provider company under contract with, and paid for by, the
Department, or by submission of a completed Form SAPS. Form SAPS may also be
obtained by calling the Division Toll Free at (844)377-1888, if calling from
outside the Tallahassee calling area or locally at (850)907-6500. Individuals
with a hearing or speech impairment may call the Division via T.D.D. at the
Florida Relay System by dialing 711 or (800)955-8771. The Division shall
suspend the benefits payable to any retiree or beneficiary not confirmed to be
living.
(10) It is the
responsibility of a payee to notify the Division of any change in his or her
address. The Division may suspend benefit payments to a payee if correspondence
sent to the payee's mailing address is returned due to an incorrect address.
Benefit payments will be resumed upon notification to the Division of the
payee's new address.
(11) A
document signed by a member or payee with an "X" must include the signatures
and addresses of two persons who have witnessed the signing, or the document
must be notarized.
(12) A member or
payee may designate an attorney in fact agent to handle his or her affairs by
properly executing a power of attorney in accordance with Chapter 709, F.S. To
establish a power of attorney with the Division, a copy of the original power
of attorney must be submitted with the member's or payee's signature properly
witnessed, and must designate the authorized attorney in fact agent to act on
his or her behalf. The document must clearly state the specified acts to be
performed on behalf of the member or payee. The division also requires the
agent to submit a properly executed affidavit in accordance with Section
709.2119, F.S. Upon receipt of
the properly executed power of attorney and affidavit, the Division will
determine if the power of attorney document clearly specifies the acts required
for payment of pension benefits. The Division will notify the payee and the
agent of its determination. A power of attorney may be revoked by either
written notification from the member or payee, death of the member or payee, or
acts deemed to be inconsistent with authority. Once a power of attorney has
been filed with the Division, the Division must be notified if the power of
attorney is ever revoked.
(13) Upon
receipt of proper documentation, and upon approval by the Division, retirement
benefits may be paid to the court appointed or natural guardian of a
payee.
(14) Any state warrant
issued by the Chief Financial Officer for the payment of retirement benefits
from the Florida Retirement System Trust Fund, or any other pension trust fund
administered by the Division, that is not presented for payment within 1 year
after the last day of the month in which it was originally issued, shall be
cancelled by the Chief Financial Officer and the amount of the warrant credited
to the Florida Retirement System Trust Fund or other pension trust fund
administered by the Division, as appropriate. The Division may issue a
replacement warrant when it deems appropriate.
Notes
Rulemaking Authority 121.031(1), 121.052(14), 121.091, 121.091(14), 121.30(9), 121.1001(4) FS. Law Implemented 121.021, 121.031, 121.051, 121.052 121.053, 121.055, 121.091, 121.23, 121.133, 121.30 FS.
New 1-1-72, Amended 10-20-72, Repromulgated 12-20-74, Amended 12-31-74, 1-16-77, 7-1-79, 12-22-80, 8-26-81, 2-6-84, 11-6-84, 4-17-85, Formerly 22-2.02, Amended 2-4-86, 3-11-87, 9-5-90, Formerly 22B-2.002, Amended 2-24-99, 8-13-03, 4-5-12, 3-25-13, 2-5-15, 12-21-23.
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