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. 121.30

121.30 Statements of purpose and intent and other provisions required for qualification under the Internal Revenue Code of the United States.—Any other provisions in this chapter to the contrary notwithstanding, it is specifically provided that:

(1) The purpose of this chapter is to provide pension benefits for the exclusive benefit of the member employees or their beneficiaries.

(2) No part of the principal or income of the trust fund created hereunder shall be used or diverted for purposes other than for the exclusive benefit of the member employees or their beneficiaries and for the payment of administrative cost.

(3) Forfeitures, if any, shall not be applied to increase the benefits any member employee would otherwise receive under this chapter.

(4) Upon termination or partial termination, upon discontinuance of contributions, abandonment, or merger, or upon consolidation or amendment of this chapter, the rights of all affected employees to benefits accrued as of the date of any of the foregoing events, or the amounts credited to the account of any member employee, shall be and continue thereafter to be nonforfeitable except as otherwise provided by law.

(5) No benefit payable hereunder for any limitation year shall exceed the maximum amount, including cost-of-living adjustments, allowable by law for qualified pension plans under applicable provisions of the Internal Revenue Code of the United States. In the event of any participation of a Florida Retirement System member in any other plan that is maintained by the participating employer, benefits that accrue under the Florida Retirement System shall be considered primary for any aggregate limitation applicable under s. 415 of the Internal Revenue Code.

(6)(a) When computing benefits accrued or contributions to be made on behalf of any person who first becomes a member or participant on or after July 1, 1996, compensation taken into account for any plan year shall not include any amounts in excess of the s. 401(a)(17), Internal Revenue Code limitation (as amended by the Omnibus Budget Reconciliation Act of 1993), which limitation of $150,000 effective July 1996, shall be adjusted as required by federal law for qualified government plans and shall be further adjusted for changes in the cost of living in the manner provided by s. 401(a)(17)(B) of the Internal Revenue Code.

(b) When computing benefits accrued or contributions to be made on behalf of any person who first became a member or participant prior to July 1, 1996, compensation for all plan years beginning on or after July 1, 1990, shall not include any amounts in excess of the compensation limitation (originally $200,000) established by s. 401(a)(17) of the Internal Revenue Code prior to the Omnibus Budget Reconciliation Act of 1993, which limitation shall be adjusted for changes in the cost of living since 1989, in the manner provided by s. 401(a)(17) of the Internal Revenue Code of 1991. This limitation, which has been part of the Florida Retirement System since plan years beginning on or after July 1, 1990, shall be adjusted as required by federal law for qualified government plans.

(7) Any provision of this chapter relating to an optional annuity or retirement program must be construed and administered in such manner that such program will qualify as a qualified pension plan under applicable provisions of the Internal Revenue Code of the United States.

(8) The provisions of this section are declaratory of the legislative intent upon the original enactment of this chapter and are hereby deemed to have been in effect from such date.

(9) The department may adopt any rule necessary to accomplish the purpose of the section which is not inconsistent with this chapter.

History.—s. 1, ch. 78-108; s. 3, ch. 89-126; s. 11, ch. 96-368; s. 16, ch. 97-180; s. 11, ch. 98-413; s. 50, ch. 99-255.

F.S. 121.30 on Google Scholar

F.S. 121.30 on Casetext

Amendments to 121.30

Arrestable Offenses / Crimes under Fla. Stat. 121.30

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 121.30.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In COFFMAN Jr., 271 B.R. 492 (Bankr. N.D. Tex. 2002)

. . . the extent of the ear’s value of $5,450.00, with interest at 9% per annum, resulting in payments of $121.30 . . .

In WILLIAMS, L. L. J. M., 253 B.R. 220 (Bankr. W.D. Tenn. 2000)

. . . The ongoing payments on the PLUS loan would be $121.30 per month. Mr. Hunter testified that Mrs. . . .

L. McCOY, Sr. v. R. O. WHITE, L. McCOY, Sr. v. CORRECTIONAL MEDICAL SYSTEMS L. McCOY, Sr. v. N. SMITH, L. McCOY, Sr. v. R. O. WHITE, L. McCOY, Sr. v. Lt. R. E. JOHNSON, L. McCOY, Sr. v. GOINS. L. McCOY, Sr. v. B. SMITH, L. McCOY, Sr. v. CORRECTIONAL MEDICAL SYSTEMS, 145 F.R.D. 393 (D. Md. 1992)

. . . represented to this court—in case number L-90-3014—that he had no money in a savings account, he in fact had $121.30 . . .

GRIFFIN, v. L. COLER, v. R. BLOCK,, 667 F. Supp. 1233 (C.D. Ill. 1986)

. . . that the policy of the Illinois Department of Public Aid which is articulated in 89 Ill.Admin.Code § 121.30 . . . The Illinois administrative code provision dealing with unearned income, ch. 89, § 121.30, was amended . . .

M. LANDY, v. FEDERAL AVIATION ADMINISTRATION, E. v. M. LANDY J. D. N, 635 F.2d 143 (2d Cir. 1980)

. . . certain instruments required by the Federal Aviation Regulations were not in operable condition (Section 121.30 . . .

Co. v., 84 Cust. Ct. 1 (Cust. Ct. 1980)

. . . The merchandise was classified as calf or kip leather under item 121.30, Tariff Schedules of the United . . . read as follows : Leather, in the rough, partly finished, or finished: ******* Other: Calf and kip: 121.30 . . .

v., 71 Cust. Ct. 187 (Cust. Ct. 1973)

. . . from Italy and entered at the port of Chicago in 1970 — was classified by the government under item 121.30 . . . schedules read as follows: Leather in the rough, partly finished, or finished: ******* Other: Calf and kip: 121.30 . . . the commercial meaning of the term “calf leather” and, consequently, falls outside the scope of item 121.30 . . . the exact size or weight at which calf becomes known in the trade as “kip” is immaterial since item 121.30 . . . record, it is held that the imported merchandise is not “calf upper leather” within the meaning of item 121.30 . . .

DEAUVILLE OPERATING CORP. a v. TOWN AND BEACH PLUMBING CO. a, 123 So. 2d 353 (Fla. Dist. Ct. App. 1960)

. . . the rate of six (6%) per cent per annum, in the amount of $4,-475.50, totaling in all the sum of $47,-121.30 . . .

BIRMINGHAM FINANCE CO. v. CHISOLM, 284 F. 840 (5th Cir. 1922)

. . . his sole asset wages due to him by the Southern Railway Company for personal services amounting to $121.30 . . .

In SILVER, 208 F. 797 (N.D. Ohio 1912)

. . . evening, the petitioners, Calhoun & Thomas, deposited with the banking company in cash the sum of $121.30 . . .