Florida Administrative Code
60 - DEPARTMENT OF MANAGEMENT SERVICES
60V - Senior Management Service Optional Annuity Program
Chapter 60V-1 - PARTICIPATION
Section 60V-1.005 - Election to Participate

(1) Any employee whose initial employment in an eligible state Senior Management Service Class position is before February 1, 1987 and who elects to participate in the Optional Annuity Program shall make such election on Form SMS-1, adopted in Rule 60V-1.007, F.A.C., and file it with the employer's personnel office to be forwarded to the Division on or before May 1, 1987. The effective date of participation for such employee shall be February 1, 1987 or the first day of any month during the election period of February 1, 1987 through May 1, 1987, if so specified by the employee. If such employee transfers to the Optional Annuity Program from an existing system as defined in subsection 121.021(2), F.S., the Special Risk Class or the Special Risk Administrative Support Class, that employee shall make such election on Form SMS-1.

(2) Any employee whose initial date of employment in an eligible state Senior Management Service Class position is on or after February 1, 1987, and who elects to participate in the Optional Annuity Program shall, within 90 days of becoming eligible:

(3) Any eligible employee who fails to make an election provided by subsection 60V-1.005(1) or (2) or paragraph 60S-1.0057(2)(a), F.A.C., shall be a compulsory member of the Senior Management Service Class of the Florida Retirement System as provided by subsection 60S-1.0057(1), F.A.C.

(4) An employee's election to participate in the Optional Annuity Program is irrevocable as long as such employee continues to be employed in an eligible position and continues to meet the eligibility requirements set forth in Rule 60V-1.004, F.A.C.

(5) If a participant terminates employment for less than 1 calendar month and is reemployed in an eligible position, such participant shall continue to be a participant in the Optional Annuity Program.