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Florida Administrative Code (Last Updated: November 11, 2024) |
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60. Department of Management Services |
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60U. Division of Retirement - Optional Retirement Program |
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60U-1. Optional Retirement Program Participation |
1The acronyms, titles, words, and phrases in this chapter shall be construed according to their plain meaning, in light of the context and subject matter, unless expressly defined otherwise in this rule, this chapter, or in Chapter 121, F.S. Titles, words, and phrases so expressly defined may be initially capitalized for convenient reference and for notice purposes only.
59(1) FRS – Florida Retirement System.
65(2)66Mandatory Participant 68‒ One who must become a Participant due to appointment to positions listed in Section 83121.051(1)(a)2., F.S.
85(3) Participant – A successful enrollee in the SUSORP.
94(4) Provider Company – A business designated by the division from which a Participant may cho110ose to purchase investment products under the SUSORP.
118(5) SUSORP – State University System Optional Retirement Program.
127(6) SUSORP Election Window – The period beginning the date a person becomes an Employee of the State University System who as a result is eligible or required to be a Participant, and the earlier of:
163(a) 90 days thereafter;
167(b) The person becoming a Participant; or
174(c) The person becoming ineligible to be a Participant.
183Rulemaking Authority 185121.031, 186121.35 FS. 188Law Implemented 190121.35 FS. 192Hi193story‒New 2-23-16.
