Florida Retirement System (FRS. The definition of normal retirement as defined by FRS applies to employees in both the Pension Plan and the Investment Plan. The definition and requirements will apply for retirement insurance discount eligibility determination.
Florida Retirement System (FRS. Bargaining Unit members are required to meet the definition of “normal retirement date” as defined by FRS (FS 121.021(29)) as it applies to employees in both the Pension Plan and the Investment Plan. The definition and requirements will apply for retirement insurance discount eligibility determination.
Florida Retirement System (FRS. The statewide retirement system providing retirement, disability and survivor benefit programs for covered employees of participating employers. The FRS is a 401(a), Internal Revenue Code, with two primary plans, a defined benefit program (FRS Pension Plan) and a defined contribution program (FRS Investment Plan).
Florida Retirement System (FRS. As a condition of receipt of supplemental benefits under this Article, all applicants must apply for FRS Disability benefits. FRS "Retirement Option I" benefit amounts shall be used to calculate SLTD benefits, if the employee elects to receive Option I benefits. FRS "Retirement Option 2" benefit amounts shall be used to calculate SLTD benefits, if the employee elects to receive any option other than Option 1 benefits. For employees who elect the FRS Investment Plan, the monthly benefit that would have been received from "Retirement Option 1" under the FRS Defined Benefit Plan shall be used to determine the SLTD benefit. Employees shall be required to apply for FRS Regular benefits if they are denied FRS Disability benefits and if they are eligible to receive FRS Regular benefits without early retirement penalty. No employee shall be required to apply for FRS Regular benefits until such time as
Florida Retirement System (FRS. As a condition of receipt of supplemental benefits under this Article, all applicants must apply for FRS Disability benefits. FRS "Retirement Option I" benefit amounts shall be used to calculate SLTD benefits, if the employee elects to receive Option I benefits. FRS "Retirement Option 2" benefit amounts shall be used to calculate SLTD benefits, if the employee elects to receive any option other than Option 1 benefits. For employees who elect the FRS Investment Plan, the monthly benefit that would have been received from "Retirement Option 1" under the FRS Defined Benefit Plan shall be used to determine the SLTD benefit. Employees shall be required to apply for FRS Regular benefits if they are denied FRS Disability benefits and if they are eligible to receive FRS Regular benefits without early retirement penalty. No employee shall be required to apply for FRS Regular benefits until such time as they may receive these benefits without early retirement penalty. At such time as an employee qualifies for "non-penalized" FRS regular benefits, and chooses not to apply for "non-penalized" benefits, the SLTD payment shall be recalculated using the Option 1 FRS benefit amount. If the calculation method for determining Average Final Compensation (AFC) is changed by FRS, the method used for
Florida Retirement System (FRS. It is the intent of the parties that all payments under this Article shall be pensionable under the Florida Retirement System (FRS) in accordance with FRS rules and regulations.
Florida Retirement System (FRS. The parties agree to meet no later than May 1, 2023 to commence discussions in good faith regarding timing and preparations for holding a referendum vote pursuant to Fla. Stat. S. 121.051(2)(b) and Florida Administrative Code Rule 60S-1.007. The parties agree that a referendum vote will be held no later than September 1, 2023, unless administrative processes or scheduling with the Federal and State agencies delay this process.
