The 2023 Florida Statutes (including Special Session C)

Title X
PUBLIC OFFICERS, EMPLOYEES, AND RECORDS

Chapter 121
FLORIDA RETIREMENT SYSTEM

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F.S. 121.1001

121.1001 Florida Retirement System Preservation of Benefits Plan.—Effective July 1, 1999, the Florida Retirement System Preservation of Benefits Plan is established as a qualified governmental excess benefit arrangement pursuant to s. 415(m) of the Internal Revenue Code. The Preservation of Benefits Plan is created as a separate portion of the Florida Retirement System, for the purpose of providing benefits to a payee (retiree or beneficiary) of the Florida Retirement System whose benefits would otherwise be limited by s. 415(b) of the Internal Revenue Code.

(1) ELIGIBILITY TO PARTICIPATE IN THE PRESERVATION OF BENEFITS PLAN.—A payee of the Florida Retirement System shall participate in the Preservation of Benefits Plan if his or her earned benefit under the Florida Retirement System Pension Plan exceeds the benefit maximum established under s. 415(b) of the Internal Revenue Code. Participation in the Preservation of Benefits Plan shall continue for as long as the payee’s earned benefit under the pension plan is reduced by the application of the maximum benefit limit under s. 415(b) of the Internal Revenue Code.

(2) BENEFITS PAYABLE UNDER THE PRESERVATION OF BENEFITS PLAN.—

(a) On and after July 1, 1999, the division shall pay to each eligible payee of the Florida Retirement System who retires before, on, or after that date, a supplemental retirement benefit equal to the difference between the amount of the payee’s monthly retirement benefit which would have been payable under the Florida Retirement System Pension Plan if not for a reduction due to the application of s. 415(b) of the Internal Revenue Code and the reduced monthly retirement benefit as paid to the payee. The Preservation of Benefits Plan benefit shall be computed and payable under the same terms and conditions and to the same person as would have applied under the pension plan were it not for the federal limitation.

(b) The benefits under the Preservation of Benefits Plan shall not be subject to execution, garnishment, attachment, or any other process of any court with respect to a payee under the Preservation of Benefits Plan except for qualified domestic relations orders by a court of competent jurisdiction, income deduction orders as provided in s. 61.1301, and federal income tax levies.

(3) CONTRIBUTIONS.—

(a) The Preservation of Benefits Plan shall be unfunded within the meaning of the federal tax laws. No payee contributions or deferrals, direct or indirect, by election or otherwise shall be made or allowed under the Preservation of Benefits Plan. Benefits due under the Preservation of Benefits Plan as determined by the Division of Retirement shall be paid timely from the Preservation of Benefits Plan Trust Fund, if created by law.

(b) Florida Retirement System monthly retirement contributions paid to the Division of Retirement by the payee’s past covered employer shall be reduced by the employer as directed by the Division of Retirement by an amount necessary to meet the requirements for payment of restored benefits under the Preservation of Benefits Plan.

(4) ADMINISTRATION.—The Division of Retirement shall compile and maintain all records necessary or appropriate for the administration of the Preservation of Benefits Plan, including, but not limited to, the making of requisite calculations and disbursements under the Preservation of Benefits Plan.

History.—s. 2, ch. 99-389; s. 16, ch. 2011-68; s. 37, ch. 2012-116.

F.S. 121.1001 on Google Scholar

F.S. 121.1001 on Casetext

Amendments to 121.1001

Arrestable Offenses / Crimes under Fla. Stat. 121.1001

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 121.1001.

Annotations, Discussions, Cases:

Cases from cite.case.law:

STRAUGHAN ENVIRONMENTAL, INC. v. UNITED STATES, LLC,, 135 Fed. Cl. 360 (Fed. Cl. 2017)

. . . . § 121.1001, the CO requested a formal size determination of IMSS, specifically referencing IMSS mentor-protégé . . .

PRECISE SYSTEMS, INC. v. UNITED STATES, LLC, LLC,, 120 Fed. Cl. 586 (Fed. Cl. 2015)

. . . . §§ 125.25(a), 121.1001 — . 1103 (2013) (small business size eligibility protest procedures). . . . .

TAYLOR CONSULTANTS, INC. v. UNITED STATES,, 90 Fed. Cl. 531 (Fed. Cl. 2009)

. . . . §§ 121.1001-121.1110. . . . . § 121.1001(a)(1). . . .

INTERNATIONAL MANAGEMENT SERVICES, INC. v. UNITED STATES, LLC,, 80 Fed. Cl. 1 (Fed. Cl. 2007)

. . . . § 121.1001(a)(l)(iv).” Id. U 29. . . .

IRONCLAD EEI, A v. UNITED STATES, MGC R. L., 78 Fed. Cl. 351 (Fed. Cl. 2007)

. . . . § 121.1001(a)(2) (2007); see also 13 C.F.R. § 124.517(b) (2007). . . .

PRIDE INTERNATIONAL, LLC, v. UNITED STATES,, 64 Fed. Cl. 754 (Fed. Cl. 2005)

. . . . § 121.1001(a)(1)(iv), which provides that “[a] concern found to be other than small in connection with . . . See 13 C.F.R. § 121.1001(a)(1)(iv). . . .

MARK DUNNING INDUSTRIES, INC. v. UNITED STATES Si-, 60 Fed. Cl. 687 (Fed. Cl. 2004)

. . . . §§ 121.1001— 121.1010. . . .

MARK DUNNING INDUSTRIES, INC. v. UNITED STATES Si-, 58 Fed. Cl. 216 (Fed. Cl. 2003)

. . . . §§ 121.1001 — 121.1010 with 13 C.F.R. §§ 126.400 — 126.405, and the interpretations of their provisions . . . Compare 13 C.F.R. §§ 126.800 — 126.805 with 13 C.F.R. §§ 121.1001 — 121.1010 and 13 C.F.R. §§ 126.400 . . .

JWK INTERNATIONAL CORPORATION, v. UNITED STATES, LTM,, 49 Fed. Cl. 371 (Fed. Cl. 2001)

. . . . § 121.1001(a)(1); FAR 19.302. . . .

HAWPE CONSTRUCTION, INC. v. UNITED STATES,, 46 Fed. Cl. 571 (Fed. Cl. 2000)

. . . . § 121.1001 (1999). . . .

DSE, INC. d b a v. UNITED STATES, 169 F.3d 21 (D.C. Cir. 1999)

. . . . § 121.1001(a)(1)(i). . . .