SECTION 121.72. Allocations to investment plan member accounts; percentage amounts.

Latest version.

1(1) 2The allocations established in subsection (4) shall fund retirement benefits under the investment plan and shall be transferred monthly by the Division of Retirement from the Florida Retirement System Contributions Clearing Trust Fund to the third-party administrator for deposit in each participating employee’s individual account based on the membership class of the participant.

55(2) 56The 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.

112(3) 113Employer and employee contributions to member accounts shall be accounted for separately. Interest and investment earnings on contributions shall accrue on a tax-deferred basis until proceeds are distributed.

141(4) 142Effective July 1, 2002 through June 30, 2012, allocations from the Florida Retirement System Contributions Clearing Trust Fund to investment plan member accounts are as follows:

168Membership Class	170Percentage of Gross Compensation

174Regular Class	1769.00%
177Special Risk Class	18020.00%
181Special Risk Administrative Support Class	18611.35%
187Elected Officers’ Class190- 191Legislators, Governor, 193Lt. Governor, Cabinet Officers, 197State Attorneys, Public Defenders	20113.40%
202Elected Officers’ Class205- 206Justices, Judges	20818.90%
209Elected Officers’ Class212- 213County Elected Officers	21616.20%
217Senior Management Service Class	22110.95%

222(5) 223Effective July 1, 2012, allocations from the Florida Retirement System Contributions Clearing Trust Fund to investment plan member accounts are as follows:

245Membership Class	247Percentage of Gross Compensation

251Regular Class	2536.30%
254Special Risk Class	25714.00%
258Special Risk Administrative Support Class	2637.95%
264Elected Officers’ Class267- 268Legislators, Governor, 270Lt. Governor, Cabinet Officers, 274State Attorneys, Public Defenders	2789.38%
279Elected Officers’ Class282- 283Justices, Judges	28513.23%
286Elected Officers’ Class289- 290County Elected Officers	29311.34%
294Senior Management Service Class	2987.67%

History.-s. 1, ch. 2002-177; s. 34, ch. 2011-68; s. 5, ch. 2012-146.

Bills Cite this Section:

None

Cited by Court Cases:

None

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');