Employees have vested rights after 10 years and may retire at 62 with full benefits or earlier with reduced benefits. Annual benefits figured on average of best five years of earnings multiplied by percentage factor based on age or years of state service. Thirty years gives full benefits at retirement, regardless of age. Deductions taken 24 times a year. From date of hire May be purchased via payroll deduction.
Deduction varies depending on bond denomination selected.
From date of hire Pays all reasonable and necessary medical care if UF employees or volunteers are injured or develop an occupational disease as a direct result of performing assigned job duties. Provides payment to employees for part of the wages they might lose if the injury or illness disables them for more than 7 calendar days.