Florida Administrative Code › 60 - DEPARTMENT OF MANAGEMENT SERVICES › 60S - Division of Retirement › Chapter 60S-3 - CONTRIBUTIONS › Section 60S-3.007 - Retirement Contributions for Leave of Absence Credit

Current through Reg. 50, No. 138; July 16, 2024
The required contributions for any member who is eligible to
				  claim creditable service for leaves of absence in accordance with Rule
				   60S-2.006, F.A.C., shall be
				  determined as follows:
(1) Retirement
				contributions for leaves of absence credit are 8 percent for leaves of absence
				prior to January 1, 1975, 9 percent for leaves of absence from January 1, 1975
				until June 30, 1980, and for leaves of absence after July 1, 1980 all leaves
				must be purchased at the combined rate of employee and employer contributions
				required for the class of membership under which the leave was granted.
				However, service credit purchased prior to July 1, 1980 for leave of absence in
				a class of membership other than the Regular Class of membership may be
				purchased by paying the appropriate additional contributions. The member shall
				receive creditable service for such leave in the membership class from which it
				was granted. The appropriate percentage is then multiplied by the number of
				months of the leave of absence multiplied by the rate of the member's monthly
				compensation in effect immediately prior to the commencement of the leave of
				absence, plus interest from the fiscal year of the leave of absence as provided
				in Rule  60S-3.0035, F.A.C.
(2) The required contributions to claim full
				retirement credit as allowed in subsection
				 60S-2.006(3),
				F.A.C., for a leave of absence during which the member received partial salary
				(which was paid from a salary fund and on which retirement contributions were
				paid) shall be determined as follows:
Contributions shall be charged for any portion of the leave
				  of absence on which retirement contributions have not already been paid. The
				  rate of contributions shall be 8 percent for leaves of absence prior to January
				  1, 1975, 9 percent for leaves of absence from January 1, 1975 until June 30,
				  1980 and for leaves of absence after July 1, 1980 all leaves must be purchased
				  at the combined rate of employee and employer contributions required for the
				  class of membership under which the leave was granted. However, service credit
				  purchased prior to July 1, 1980 for a leave of absence in a class of membership
				  other than the Regular Class membership, may be purchased by paying the
				  appropriate additional contributions. The member shall receive creditable
				  service for such leave in the membership class from which it was granted. The
				  appropriate percentage is then multiplied by the number of months of the leave
				  of absence, multiplied by the rate of monthly compensation in effect
				  immediately prior to the commencement of the leave of absence. The amount of
				  contributions already paid shall be subtracted from the total amount due and
				  interest on the remaining amount due shall be charged from the fiscal year of
				  the leave of absence as provided in Rule
				   60S-3.0035,
				  F.A.C.
(3) If the rate of
				contributions changes during a member's leave, the member must purchase the
				remainder of the leave at the new contribution rate.
Rulemaking Authority
					 121.031 FS. Law Implemented
					 121.121(4)
					 FS.
New 1-1-72, Amended 10-20-72, 12-31-74, 7-1-79, 8-26-81,
					 Formerly 22B-3.07, Amended 2-7-89, Formerly 22B-3.007, Amended
					 4-5-12.