Section 121.40 - Cooperative extension personnel at the Institute of Food and Agricultural Sciences; supplemental retirement benefits(1) SHORT TITLE.-This section shall be known and may be cited as the "Institute of Food and Agricultural Sciences Supplemental Retirement Act."(2) PURPOSE.-The purpose of this act is to provide a supplement to the monthly retirement benefits being paid under the federal Civil Service Retirement System to, or with respect to, certain retired employees of the Institute of Food and Agricultural Sciences at the University of Florida, whose positions were ineligible for coverage under a state-supported retirement system.(3) DEFINITIONS.-The definitions provided in s. 121.021 shall not apply to this program except when specifically cited. For the purposes of this section, the following words or phrases have the respective meanings set forth: (a) "Institute" means the Institute of Food and Agricultural Sciences of the University of Florida.(b) "Department" means the Department of Management Services.(c) "Participant" means any employee of the institute who is eligible to receive a supplemental benefit under this program as provided in subsection (4).(d) "Trust fund" means the Florida Retirement System Trust Fund.(e) "Creditable service" means any service subsequent to December 1, 1970, with the institute as a cooperative extension employee holding both state and federal appointments, that is credited for retirement purposes by the institute toward a federal Civil Service Retirement System annuity.(4) ELIGIBILITY FOR SUPPLEMENT.-To be eligible for a benefit under this program pursuant to the provisions of this section, a person must meet all of the following eligibility criteria:(a) The person must have held both state and federal appointments while employed at the institute, and have completed 10 years of creditable service with the institute, subsequent to December 1, 1970.(b) The person must be participating in the federal Civil Service Retirement System based on service at the institute.(c) The person must have retired from the institute on or after January 1, 1985, and must have been eligible for benefits under the federal Civil Service Retirement System commencing immediately upon the termination of service with the institute.(d) The person must have attained the age of 62.(e) The person must not be entitled to any benefit from a state-supported retirement system or from social security based upon service as a cooperative extension employee of the institute. Participation in the Institute of Food and Agricultural Sciences Supplemental Retirement Program shall not constitute membership in the Florida Retirement System.(f) The person must have been employed with the institute prior to, and on, July 1, 1983.(5) SUPPLEMENT AMOUNT.-The supplemental payment shall provide a benefit to the retiree equal to the amount by which the retirement annuity, without a survivor benefit, earned by the employee under the federal Civil Service Retirement System with respect to service as a cooperative extension employee of the institute after December 1, 1970, is inferior to:(a) An amount equal to the option one retirement benefit that the employee would have been entitled to receive at his or her normal retirement age under the Florida Retirement System, attributable only to creditable service after December 1, 1970, as a cooperative extension employee of the institute, excluding any past or prior service credit, had such employee been a member of the Florida Retirement System; plus(b) An amount equal to the primary insurance amount that the individual employee would have been entitled to receive under social security at age 62 had he or she been covered for such employment, such amount to be computed in accordance with the Social Security Act only with respect to employment as a cooperative extension employee of the institute after December 1, 1970.(6) PAYMENT OF SUPPLEMENT.-Any participant who retires on or after January 1, 1985, from the federal Civil Service Retirement System as a cooperative extension employee of the institute at the University of Florida and who satisfies all of the eligibility criteria specified in subsection (4) shall be entitled to receive a supplemental benefit under this program computed in accordance with subsection (5), to begin July 1, 1985, or the month of retirement, or the month in which the participant becomes age 62, whichever is later. Upon application to the administrator, the participant shall receive a monthly supplemental benefit which shall commence on the last day of the month of retirement and shall be payable on the last day of the month thereafter during his or her lifetime. A participant may have federal income tax and health insurance premiums deducted from his or her monthly supplemental benefit in the same manner as provided in s. 121.091(14)(a) and (b) for monthly retirement benefits under the Florida Retirement System.(7) OPTIONAL FORMS OF SUPPLEMENTAL RETIREMENT BENEFITS.-Prior to the receipt of the first monthly supplemental retirement payment under this program, a participant shall elect to receive the supplemental retirement benefits to which he or she is entitled under subsection (6) in accordance with s. 121.091(6).(8) DEATH BENEFITS.- (a) If the employment of a participant of this program is terminated by reason of his or her death subsequent to the completion of 10 years of creditable service with the institute but prior to his or her actual retirement, such 10-year period having commenced on or after December 1, 1970, it shall be assumed that the participant had met all of the eligibility requirements under this section and had retired from the federal Civil Service Retirement System and under this section as of the date of death, having elected, in accordance with subsection (7), the optional form of supplemental payment most favorable to his or her beneficiary, as determined by the administrator. The monthly supplemental benefit provided in this paragraph shall be paid to the participant's beneficiary (spouse or other financial dependent) upon such beneficiary's attaining the age of 62 and shall be paid thereafter for the beneficiary's lifetime.(b) If a participant of this program dies subsequent to his or her actual retirement under the federal Civil Service Retirement System but prior to attaining age 62, and such participant was otherwise eligible for supplemental benefits under this section, it shall be assumed that the participant had met all of the eligibility requirements under this section and had retired as of the date of death, having elected, in accordance with subsection (7), the optional form of supplemental payment most favorable to his or her beneficiary, as determined by the administrator. The monthly supplemental benefit provided in this paragraph shall be paid to the participant's beneficiary (spouse or other financial dependent) upon such beneficiary's attaining the age of 62 and shall be paid thereafter for the beneficiary's lifetime.(9) DESIGNATION OF BENEFICIARIES.-Each participant of this program may designate beneficiaries in accordance with s. 121.091(8).(10) COST-OF-LIVING ADJUSTMENT OF SUPPLEMENTAL BENEFITS.-On each July 1, the supplemental benefit of each retired participant of this program and each annuitant thereof shall be adjusted as provided in s. 121.101.(11) EMPLOYMENT AFTER RETIREMENT: LIMITATION.-Any person who is receiving a supplemental retirement benefit under this program may be reemployed by any private or public employer after retirement and receive supplemental retirement benefits pursuant to this section and compensation from his or her employer, without any limitations. However, if a retired participant who is receiving a supplemental retirement benefit under this section is reemployed at the institute in a position as a cooperative extension employee of the institute, he or she shall forfeit all rights to supplemental retirement benefits in accordance with the eligibility provisions of paragraph (4)(e).(12) CONTRIBUTIONS.- (a) For the purpose of funding the supplemental benefits provided by this section, the institute is authorized and required to pay, commencing July 1, 1985, the necessary monthly contributions from its appropriated budget. These amounts shall be paid into the Florida Retirement System Trust Fund.(b) The monthly contributions required to be paid pursuant to paragraph (a) on the gross monthly salaries, from all sources with respect to such employment, paid to those employees of the institute who hold both state and federal appointments and who participate in the federal Civil Service Retirement System shall be as follows: Dates of Contribution Rate Changes | Percentage Due |
July 1, 1985, through December 31, 1988 | 6.68% |
January 1, 1989, through December 31, 1993 | 6.35% |
January 1, 1994, through December 31, 1994 | 6.69% |
January 1, 1995, through June 30, 1996 | 6.82% |
July 1, 1996, through June 30, 1998 | 5.64% |
July 1, 1998, through June 30, 2001 | 7.17% |
July 1, 2001, through June 30, 2003 | 6.96% |
July 1, 2003, through June 30, 2005 | 13.83% |
July 1, 2005, through June 30, 2007 | 20.23% |
Effective July 1, 2007 | 18.75% |
(13) ADMINISTRATION OF PROGRAM.- (a) The department shall make such rules as are necessary for the effective and efficient administration of this program. The secretary of the department shall be the administrator of the program. The funds to pay the expenses for such administration shall be appropriated from the interest earned on investments made for the Florida Retirement System Trust Fund.(b) The department may require oaths, by affidavit or otherwise, and acknowledgments from persons in connection with the administration of its duties and responsibilities under this section.s. 1, ch. 84-358; s. 6, ch. 85-246; s. 16, ch. 88-382; s. 19, ch. 90-274; s.11, ch. 92-122; s.61, ch. 92-279; s.55, ch. 92-326; s.10, ch. 93-193; s.9, ch. 94-259; s.1432, ch. 95-147; s.19, ch. 95-154; s.8, ch. 96-423; s.15, ch. 98-138; s.13, ch. 98-413; s.56, ch. 99-2; s.52, ch. 99-255; s.15, ch. 99-392; s.4, ch. 2001-262; s.6, ch. 2003-260; s.2, ch. 2005-93; s.3, ch. 2007-100.