Florida Florida Statutes

§ 121.1122 — Purchase of retirement credit for in-state public service and in-state service in accredited nonpublic schools and colleges, including charter schools and charter technical career centers

FS § 121.1122Ch. 121

Statute text

Effective January 1, 1998, a member of the Florida Retirement System may purchase creditable service for periods of certain public or nonpublic employment performed in this state, as provided in this section.(1) PURCHASE OF RETIREMENT CREDIT AUTHORIZED.—Subject to the provisions of subsections (2) and (3), a member of the Florida Retirement System may purchase up to 5 years of retirement credit for:(a) Periods of public employment in this state; or

(b)Periods of employment in charter schools or charter technical career centers or in any nonpublic school or college in this state that is accredited by the Southern Association of Colleges and Schools. Credit for 1 year of such service may be purchased for each year of creditable service a member completes under the Florida Retirement System.

(2)LIMITATIONS AND CONDITIONS.—(a) A member is not eligible to receive credit for in-state service under this section until he or she has completed the years of creditable service required for vesting under the Florida Retirement System, excluding service purchased under this section and out-of-state service claimed and purchased under s. 121.1115.

(b)A member may not purchase and receive credit for more than 5 years of creditable service aggregated under this section and s. 121.1115.

(c)Service credit claimed under this section shall be credited only as service in the Regular Class and is subject to s. 112.65.

(d)Service credit may not be purchased under this seserve" class="Text Intro Justify">Employer and employee contributions, interest, earnings, or any other funds may not be paid into a renewed member's optional retirement program account for any employment in a regularly established position with a covered employer on or after July 1, 2010, through June 30, 2017, by the renewed member or the employer on behalf of the renewed member.

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Legislative history

s. 12, ch. 70-112; s. 10, ch. 74-302; s. 2, ch. 80-128; s. 8, ch. 83-76; s. 14, ch. 88-382; s. 776, ch. 95-147; s. 13, ch. 97-180; s. 11, ch. 98-138; s. 9, ch. 98-413; s. 12, ch. 2000-169; s. 8, ch. 2000-347; s. 21, ch. 2008-4; s. 20, ch. 2011-68; s. 2, ch. 2018-126.