(1) The allocations established in subsection (3) shall be used to provide disability coverage for members in the investment plan and shall be transferred monthly by the Division of Retirement from the Florida Retirement System Contributions Clearing Trust Fund to the disability account of the Florida Retirement System Trust Fund.
(2) The allocations are stated as a percentage of each investment plan member’s gross compensation for the calendar month. A change in a contribution percentage is effective the first day of the month for which retirement contributions may be made on or after the beginning date of the change. Contribution percentages may be modified by general law.
(3) Effective July 1, 2002, allocations from the Florida Retirement System Contributions Clearing Trust Fund to provide disability coverage for members in the investment plan, and to offset the costs of administering said coverage, are as follows:
History.—s. 1, ch. 2002-177; s. 35, ch. 2011-68.
Structure Florida Statutes
Title X - Public Officers, Employees, and Records
Chapter 121 - Florida Retirement System
Part III - Florida Retirement System Contribution Rates (Ss. 121.70-121.78)
121.70 - Legislative purpose and intent.
121.71 - Uniform rates; process; calculations; levy.
121.72 - Allocations to investment plan member accounts; percentage amounts.
121.73 - Allocations for member disability coverage; percentage amounts.
121.735 - Allocations for member line-of-duty death benefits; percentage amounts.
121.74 - Administrative and educational expenses.
121.75 - Allocation for pension plan.
121.76 - Contributions for social security and for retiree health insurance subsidy.