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 [phone], if calling from outside the Tallahassee calling area or locally at [phone]. Individuals with a hearing or speech impairment may call the Division via T.D.D. at the Florida Relay System by dialing 711 or [phone]. 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.

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. History–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.