Florida Retirement System (FRS Sample Clauses

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.
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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.
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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 calculating AFC for SLTD benefits shall be similarly changed. Retro- active recalculation of AFC, and SLTD benefits shall match the retro- active provisions adopted by FRS.
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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).
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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.
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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.
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Related to Florida Retirement System (FRS

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Group Health Benefit Plans, Carrier and Premiums 7.1.1 When enrolment and other requirements for group participation in various plans have been met, the Employer will sponsor such plans to the portion agreed upon and such sponsorship shall not exceed that which is authorized or accepted by the benefit agency.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

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