Florida Administrative Code › 60 - DEPARTMENT OF MANAGEMENT SERVICES › 60S - Division of Retirement › Chapter 60S-7 - ACTUARIAL FACTORS › Section 60S-7.0041 - Actuarial Factors for Calculating Benefits Provided by Options 2, 3, and 4

Current through Reg. 50, No. 138; July 16, 2024
(1) In the event that
				actuarial factors are required for certain ages for which there are no
				actuarial factors provided in this rule, the Administrator shall make available
				the appropriate factors.
(2) The
				actuarial factors used to determine the benefits which are payable to a member
				who retired with an effective date of July 1, 1983, or before and who elects to
				receive benefits provided by Option 2 in paragraph
				 60S-4.010(1)(b),
				F.A.C., are incorporated by reference and may be obtained by contacting the
				Division of Retirement, P.O. Box 9000, Tallahassee, Florida 32315-9000; or by
				e-mail at retirement@dms.myflorida.com; or by telephone toll-free at
				(844)377-1888 or locally at (850)907-6500. The appropriate factor is determined
				by the sex and age of the member at his date of retirement.
(3) The actuarial factors used to determine
				the benefits that are payable to a member who retires with an effective date of
				August 1, 1983, through December 1, 2015, and who elects to receive benefits as
				provided by Option 2 in paragraph
				 60S-4.010(1)(b),
				F.A.C., Option 3 in paragraph
				 60S-4.010(1)(c),
				F.A.C., or Option 4 in paragraph
				 60S-4.010(1)(d),
				F.A.C., effective January 2017, available at
https://www.flrules.org/Gateway/reference.asp?No=Ref-07876
,
				are incorporated by reference and may be obtained by contacting the Division of
				Retirement by mail at P.O. Box 9000, Tallahassee, Florida 32399-9000; or in
				person at 1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399-1560;
				or by email at retirement@dms.myflorida.com; or by telephone toll-free at
				(844)377-1888 or locally at (850)907-6500. For the purpose of selecting the
				appropriate actuarial factor, the age of the member and the joint annuitant
				shall be determined as described in subsection (5).
(4) The actuarial factors used to determine
				the benefits that are payable to a member in a membership class other than the
				Special Risk Class who retires with an effective date of January 1, 2016, or
				later, and who elects to receive benefits as provided by Option 2 in paragraph
				 60S-4.010(1)(b),
				F.A.C., Option 3 in paragraph
				 60S-4.010(1)(c),
				F.A.C., or Option 4 in paragraph
				 60S-4.010(1)(d),
				F.A.C., effective January 2017, available at
https://www.flrules.org/Gateway/reference.asp?No=Ref-07877
,
				are incorporated by reference and may be obtained by contacting the Division of
				Retirement by mail at P.O. Box 9000, Tallahassee, Florida 32315-9000; or in
				person at 1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399-1560;
				or by e-mail at retirement@dms.myflorida.com; or by telephone toll-free at
				(844)377-1888 or locally at (850)907-6500. For the purpose of selecting the
				appropriate actuarial factor, the age of the member and the joint annuitant
				shall be determined as described in subsection (5).
(5) If the effective date of retirement
				occurs fewer than 7 months after the birth month, the actuarial factor selected
				shall be the factor for the age as of the last birthday. If the effective date
				of retirement occurs 7 or more months after the birth month, the actuarial
				factor selected shall be the factor for the age as of the next
				birthday.
Rulemaking Authority
					 121.031 FS. Law Implemented
					 121.091(6)
					 FS.
New 10-18-83, Formerly 22B-7.041, 22B-7.0041, Amended
					 3-2-17.