Transcription of SUMMARY PLAN DESCRIPTION - MyFRS
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SUMMARY PLAN DESCRIPTION - MyFRS
florida Retirement SystemSUMMARY PLANFRS Investment PlanDESCRIPTIONJuly 2018 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.
The Florida Legislature enacted the Investment Plan during the 2000 legislative session. Its formal name, as set out in Part II of Chapter 121, Florida Statutes, is the “Florida Retirement System Investment
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