Section 60S-3.014 - Retirement Contributions for Service Credit for a Period of Suspension Without Pay or Rescinded Dismissal(1) The required contributions for claiming creditable service in accordance with subsection 60S-2.016(1), F.A.C., for a period during which the member is suspended without compensation shall be equal to the total contribution rate required of both the member and the member's employer at the time of suspension, as specified in Rule 60S-3.003, F.A.C., multiplied by the monthly salary in effect for the member at the time of the suspension, multiplied by the number of months and fractions of months during which the member was suspended, plus 4 percent interest thereon compounded annually each June 30 from the date of suspension through June 30, 1975 and 6.5 percent interest thereafter compounded annually each June 30 beginning July 1, 1975 through date of payment.(2) The required contributions for claiming creditable service in accordance with paragraph 60S-2.016(2)(a), F.A.C., for a period during which the member is dismissed and the dismissal is subsequently determined to be incorrect and is negated, the employee is made whole, and employment is reinstated, shall be equal to the total required employer contributions for the period for which the employee is made whole, plus interest at 6.5 percent compounded annually until full payment is made, to be paid by the employer. The employee shall pay the total employee contributions, plus interest, if applicable.(3) The required contributions for claiming creditable service in accordance with paragraph 60S-2.016(2)(b), F.A.C., for a period during which the member is dismissed and the dismissal action is subsequently changed to a suspension, shall be as provided in subsection (1).Fla. Admin. Code Ann. R. 60S-3.014
Specific Authority 121.031 FS. Law Implemented 121.011(3)(e) FS.
New 1-16-77, Formerly 22B-3.14, 22B-3.014, Amended 2-24-99.New 1-16-77, Formerly 22B-3.14, 22B-3.014, Amended 2-24-99.