Retirement Plans (Policy 2.215)

Authority:Chapter 121 F.S.
Date Adopted:11/15
Date of Review:04/17
Date of Revision:06/17
Related Procedure:-----

Policy

  1. Eligible College employees, who have not previously received a retirement distribution from the Florida Retirement System (FRS) or from the Community College Optional Retirement Program (CCORP) shall be enrolled in a retirement plan based on their position classification and their full-time or part-time status. Plan options are shown below. 
    Position ClassificationFull-time
    Regular
    Full-time
    Temporary
    < 6 months
    Part-time
    < 2080 hours cumulative
    Part-time
    > 2080 hours cumulative
     Plan Options
    Career Service and ProfessionalX  XFRS Investment Plan
    FRS Pension Plan
     XX None
    Administrative
    Pay Grade A1 
    X   FRS Investment Plan
    FRS Pension Plan
    CCORP
     XX None
    Administrative
    Pay Grades A2+
    X   Senior Management
    Service Class Plan
     XX None
    FacultyXX  FRS Investment Plan
    FRS Pension Plan
    CCORP
    Adjunct Faculty  XXAlternative to Social Security Plan
  2. Retirement benefits shall be paid in accordance with provisions of the retirement plan selected by the employee.
  3. As provided in F. S. 121.055, qualified positions may be designated for inclusion in the Senior Management Service Class (SMSC) of the Florida Retirement System. Per Florida Statute 121.055, the President or designee may recommend the inclusion of positions in the Senior Management Service Class. The College designates positions classified as A2 and greater, as Senior Management Service Class.
  4. The President shall cause procedures to be developed to implement this policy.

 

Note:  Any other College rule(s) which reference(s) the rule noticed herein shall be interpreted and enforced consistent with the new / revised rule upon its final adoption (unless otherwise indicated in the referencing rule(s)).

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