Transcription of SUMMARY PLAN DESCRIPTION
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SUMMARY PLAN DESCRIPTION
Florida Retirement SystemSUMMARY PLANFRS investment PlanDESCRIPTIONJuly 2021 TABLE OF CONTENTS DISCLAIMER .. 4 INTRODUCTION .. 5 investment 6 Defined .. 6 Plan Information .. 6 Amendments or Termination of the Plan .. 8 Public Records Exemption .. 8 Rights to a Benefit .. 9 Situations Affecting Your investment Plan Benefits .. 11 investment PLAN HYBRID 13 MEMBERSHIP .. 14 Classes of Membership .. 14 investment Plan Eligibility Requirements .. 15 Optional Retirement Programs .. 15 Dual Membership Not Allowed .. 16 Social Security Coverage .. 16 Portability .. 16 Employment Status Types .. 17 ENROLLING IN THE investment PLAN .. 18 Determining Pension Plan Present Value .. 19 Cancelling a Retirement Plan Election .. 20 CONTRIBUTIONS .. 21 BENEFICIARY DESIGNATION .. 23 YEARS OF CREDITABLE SERVICE .. 24 VESTING .. 25 NORMAL RETIREMENT .. 27 investment FUNDS .. 28 Changing investment Funds .. 29 Excessive Fund Trading Guidelines .. 30 ACCOUNT FEES .. 33 ROLLOVERS TO THE investment PLAN.
of Florida, representing the Governor, the Chief Financial Officer, and the Attorney General as the Trustees of the SBA. The address for the Executive Director and Chief Investment Officer is: Executive Director & Chief Investment Officer, State Board of Administration of Florida, 1801 Hermitage Blvd., Suite 100, Tallahassee, Florida 32308.
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