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Florida Administrative Code (Last Updated: April 18, 2024) |
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60. Department of Management Services |
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60S. Division of Retirement |
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60S-4. Benefits |
1(1) The maximum normal monthly retirement benefit for a member who retires with creditable service only under the Florida Retirement System shall be calculated by multiplying the years of service times the percentage value per year of service times the average final compensation, and dividing the product by 12, as follows:
52(a) For a member who has creditable service only as a Regular Class member:
66Normal Monthly Benefit =70A × B × AFC
7512
76Where:
77If initially enrolled in the FRS prior to July 1, 2011, 88A is –
911.60% at age 62
951.63% at age 63
991.65% at age 64
1031.68% at age 65
107or over, not to exceed 1.68% Or
1141.60% with 30 years of creditable service
1211.63% with 31 years of creditable service
1281.65% with 32 years of creditable service
1351.68% with 33 years of creditable service or more, not to exceed 1.68%
148If initially enrolled in the FRS on or after July 1, 2011, A is -
1631.60% at age 65
1671.63% at age 66
1711.65% at age 67
1751.68% at age 68
179or over, not to exceed 1.68% Or
1861.60% with 33 years of creditable service
1931.63% with 34 years of creditable service
2001.65% with 35 years of creditable service
2071.68% with 36 years of creditable service or more, not to exceed 1.68%
220B is – The sum of all complete years and fractions of a year of creditable Regular Class service under the Florida Retirement System.
244AFC (Average Final Compensation) is – 250If initially enrolled in the FRS prior to July 1, 2011, 261the average annual compensation of the 5 highest years of compensation of creditable service prior to retirement, termination or death. 281If initially enrolled in the FRS on or after July 1, 2011, the AFC is the average annual compensation of the 8 highest years of compensation of creditable service prior to retirement, termination or death.
316Average Final Compensation shall be figured in the following manner:
3261. Identify the total salary paid for each July 1 through June 30 fiscal year.
3412. Rank the fiscal years of salary in order from the highest annual salary to the lowest annual salary. In order to determine the annual salary for ranking purposes only, during a year for which a member receives less than a full year of creditable service, divide the actual salary received by the percentage of a year of creditable service earned for that year.
4053.406a. If initially enrolled in the FRS prior to July 1, 2011, 418total the actual salary received for the highest 5 years. If the highest 5 fiscal years do not constitute 5 complete years of creditable service, add the necessary percentage of the next highest fiscal years’ salaries to complete 5 years of creditable service.
461b. If initially enrolled in the FRS on or after July 1, 2011, total the actual salary received for the highest 8 years. If the highest 8 fiscal years do not constitute 8 complete years of creditable service, add the necessary percentage of the next highest fiscal years’ salaries to complete 8 years of creditable service.
5174. The average final compensation shall be the annual average of the total obtained in 3.
533(b) For a member who has creditable service only as a Special Risk Class member:
548Normal Monthly Benefit =
552(A553i 554× B556i 557) × AFC, 560as i varies from 1 to 6
56712
568Where Ai corresponds to Bi as follows:
575A5761 577is – 2% at any age.
583B5841 585is – The sum of all complete years and fractions of a year of creditable Special Risk Class service under the Florida Retirement System prior to October 1, 1974 and all creditable Special Risk Class service performed October 1, 1978 through December 31, 1988.
629A6302 631is – 3% at any age.
637B6382 639is – The sum of all complete years and fractions of a year of creditable Special Risk Class service under the Florida Retirement System October 1, 1974 through September 30, 1978 and all creditable Special Risk Class service performed on and after January 1, 1993; and for Special Risk Class members who retire on or after July 1, 2000, all creditable Special Risk Class service performed on and after October 1, 1974.
711A7123 713is – 2.2% at any age.
719B7203 721is – The sum of the complete year or fraction of the year of creditable Special Risk Class service under the Florida Retirement System January 1, 1989 through December 31, 1989.
752A7534 754is – 2.4% at any age.
760B7614 762is – The sum of the complete year or fraction of the year of creditable Special Risk Class service under the Florida Retirement System January 1, 1990 through December 31, 1990.
793A7945 795is – 2.6% at any age.
801B8025 803is – The sum of the complete year or fraction of the year of creditable Special Risk Class service under the Florida Retirement System January 1, 1991 through December 31, 1991.
834A8356 836is – 2.8% at any age.
842B8436 844is – The sum of the complete year or fraction of the year of creditable Special Risk Class service under the Florida Retirement System January 1, 1992 through December 31, 1992.
875AFC (Average Final Compensation) is – Computed the same as in paragraph 88760S-4.004(1)(a), 888F.A.C.
889(c) For a member who has creditable service only as an Elected Officer member:
903Normal Monthly Benefit = 907(A × B) + (A9121 913× B9151916) × AFC
91912
920Where:
921A is – 3 1/3% for all service in the Elected Officers’ Class as a supreme court justice, district court of appeal judge, circuit court judge, or a county court judge, and all service as judge of a court of record, judge of a civil or criminal court of record, judge of any metropolitan court established pursuant to section 6, Article VIII of the State Constitution, judge of a small claims court, or justice of the peace, for which additional credit in the Elected Officers’ Class has been purchased by a member of that class who is or was a justice or judge.
1024B is – The sum of all complete years and fractions of a year of creditable service having the value of 31/3%.
1046A10471 1048is – 3% for all service in the Elected Officers’ Class other than that service represented by the alphabetic designation of A.
1070B10711 1072is – The sum of all complete years and fractions of a year of creditable service having the value of 3%.
1093AFC (Average Final Compensation) – is computed the same as in paragraph 110560S-4.004(1)(a), 1106F.A.C. If a member receives compensation as a member of the Elected Officers’ Class and at the same time receives compensation for employment in some other position covered by the Florida Retirement System, only the salary received as a member of the Elected Officers’ Class shall be used in the calculation of his or her average final compensation. If a member has received credit for upgraded previous Elected Officers’ Class service as provided in Rule 118160S-2.013, 1182F.A.C., and the upgraded service salary is greater than his or her actual salary, the upgraded service salary shall be used in the calculation of his or her average final compensation.
1213(d) For a member who has creditable service only as a senior management service member:
1228Normal Monthly Benefit =
1232A × B × AFC
123712
1238Where:
1239A is – 2.00% at any age.
1246B is – The sum of all complete years and fractions of a year of creditable service in the Senior Management Service Class on and after February 1, 1987.
1275AFC (Average Final Compensation) is – Computed the same as in paragraph 128760S-4.004(1)(a), 1288F.A.C.
1289(e) For a member who has creditable service in more than one membership class of the Florida Retirement System, the normal monthly retirement benefit shall be the sum of the normal monthly benefits the member is eligible to receive in each of the classes of membership in which the member has creditable service, as calculated in paragraphs 134660S-4.004(1)(a), 1347(b), (c) and (d), F.A.C.
1352(2) The normal monthly retirement benefit for a member who retires with creditable service under the Florida Retirement System and the State and County Officers and Employees’ Retirement System, the Judicial Retirement System, the Teachers’ Retirement System, or the Highway Patrol Pension System shall be the sum of the normal monthly benefit for his or her creditable service under the Florida Retirement System as calculated in accordance with subsection 142160S-4.004(1), 1422F.A.C., and the normal monthly benefit the member would have been eligible to receive for his or her creditable service under any of the other-named retirement systems, calculated as follows:
1452(a) A member with creditable service under the Florida Retirement System and Plan A of the State and County Officers and Employees’ Retirement System:
1476Normal Monthly Benefit =
1480(A × B × AFC) + (A14871 1488× B14901 1491× AFC)
149312
1494Where:
1495A and B are – The same as in subsection 150560S-4.004(1), 1506F.A.C.
1507A15081 1509is – 2%
1512B15131 1514is – The sum of all complete years and fractions of a year of creditable service under Plan A.
1533AFC is – The same average as calculated in paragraph 154360S-4.004(1)(a), 1544F.A.C.
1545(b) A member with creditable service under the Florida Retirement System and Plan B of the State and County Officers and Employees’ Retirement System:
1569Normal Monthly Benefit =
1573(A × B × AFC) + (A15802 1581× B15832 1584× AFC)
158612
1587Where:
1588A and B are – The same as in subsection 159860S-4.004(1), 1599F.A.C.
1600A16012 1602is – 1.50%
1605B16062 1607is – The sum of all complete years and fractions of a year of creditable service under Plan B and by Metro Dade County employees employed on or after July 1, 1969.
1639AFC is – The same average as calculated in paragraph 164960S-4.004(1)(a), 1650F.A.C.
1651(c) A member with creditable service under the Florida Retirement System and the Judicial Retirement System:
1667Normal Monthly Benefit =
1671(A × B × AFC) + (A16783 1679× B16813 1682× AFC)
168412
1685(A16864 1687× B16894 1690× AFC) + (A16945 1695× B16975 1698× AFC)
170012
1701Where:
1702A and B are – The same as in subsection 171260S-4.004(1), 1713F.A.C.
1714A3 is – 3.33%
1718B3 is – The sum of all complete years and fractions of a year of creditable service as a justice or judge, except service as a supreme court justice, if the justice was in office on July 1, 1957.
1757A4 is – 5%
1761B4 is – The sum of all complete years and fractions of a year of creditable service as a supreme court justice if in office on July 1, 1957.
1790A5 is – 2%
1794B5 is – The sum of all complete years and fractions of a year of creditable service not as a justice or judge, and which the member was eligible to claim prior to transferring to the Florida Retirement System.
1833AFC is – The same average as calculated in subsection 184360S-4.004(1), 1844F.A.C.
1845(d) A member with creditable service under the Florida Retirement System and Plan E of the Teachers’ Retirement System:
1864Normal Monthly Benefit =
1868(A × B × AFC) + (A18756 1876× B18786 1879× AFC)
188112
1882Where:
1883A and B are – The same as in subsection 189360S-4.004(1), 1894F.A.C.
1895A18966 1897is – 2%
1900B19016 1902is – The sum of all complete years and fractions of a year of creditable service under Plan E of the Teachers’ Retirement System:
1926AFC is – The same average as calculated in subsection 193660S-4.004(1), 1937F.A.C.
1938(e) A member with creditable service under the Florida Retirement System and the Highway Patrol Pension System:
1955Normal Monthly Benefit =
1959(A × B × AFC) + (A19667 1967× B19697 1970× AFC)
197212
1973(A19748 1975× B19778 1978× AFC)
198012
1981Where:
1982A19837 1984is – 2.50% for creditable service under the Highway Patrol Pension System not to exceed 20 years of credit, if the member was employed on or before June 30, 1953.
2014B20157 2016is – The sum of all complete years and fractions of a year of creditable service under the Highway Patrol Pension System not to exceed 20 years, if the member was employed on or before June 30, 1953.
2054A20558 2056is – 2%
2059B20608 2061is – The sum of all complete years and fractions of a year of creditable service under the Highway Patrol Pension System not valued at 2.50%.
2087AFC is – The same average as calculated in subsection 209760S-4.004(1), 2098F.A.C.
2099(f) The normal monthly benefit for a member with creditable service under the Florida Retirement System and more than one of the other retirement systems named in subsection 212760S-4.004(2), 2128F.A.C., shall be the sum of the normal monthly benefit for the member’s service under the Florida Retirement System as calculated in accordance with subsection 215360S-4.004(1), 2154F.A.C., and the normal monthly benefit for the member’s creditable service under each of the other retirement systems as calculated in accordance with subsection 217860S-4.004(2), 2179F.A.C.
2180(g) The normal retirement benefit for a member of the State and County Officers’ and Employees” Retirement System shall be calculated in accordance with the provisions of Chapter 122, F.S., and the normal retirement benefit for a member of the Teachers’ Retirement System shall be calculated in accordance with the provisions of Chapter 238, F.S.
2235Rulemaking Authority 2237121.031 FS. 2239Law Implemented 2241121.021, 2242121.052, 2243121.055, 2244121.091(1) FS. 2246History–New 1-1-72, Amended 10-20-72, 12-31-74, 7-1-79, 2-6-84, 4-17-85, Formerly 22B-4.04, Amended 1-12-87, 2-7-89, 9-5-90, 5-15-91, Formerly 22B-4.004, Amended 8-13-03, 4-5-12, 3-25-13.
