# Fla. Stat. § 121.30: 121.30 Statements of purpose and intent and other provisions required for qualification under the Internal Revenue Code of the United States > Florida · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.30 ## Section - **Citation:** Fla. Stat. § 121.30 - **Heading:** 121.30 Statements of purpose and intent and other provisions required for qualification under the Internal Revenue Code of the United States - **Jurisdiction:** Florida - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Florida Code / Title X / Chapter 121 / Part I / Section 121.30 ## Text 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. ## Nearby sections - [Fla. Stat. § 121.011 121.011 Florida Retirement System.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.011.md) - [Fla. Stat. § 121.012 121.012 Inclusive provisions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.012.md) - [Fla. Stat. § 121.021 121.021 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.021.md) - [Fla. Stat. § 121.22 121.22 State Retirement Commission; creation; membership; compensation.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.22.md) - [Fla. Stat. § 121.23 121.23 Disability retirement and special risk membership applications; Retirement Commission; powers and duties; judicial review.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.23.md) - [Fla. Stat. § 121.24 121.24 Conduct of commission business; legal and other assistance; compensation.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.24.md) - [Fla. Stat. § 121.025 121.025 Administrator; powers and duties.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.025.md) - [Fla. Stat. § 121.30 121.30 Statements of purpose and intent and other provisions required for qualification under the Internal Revenue Code of the United States.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.30.md) - [Fla. Stat. § 121.031 121.031 Administration of system; appropriation; oaths; actuarial studies; public records.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.031.md) - [Fla. Stat. § 121.35 121.35 Optional retirement program for the State University System.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.35.md) - [Fla. Stat. § 121.40 121.40 Cooperative extension personnel at the Institute of Food and Agricultural Sciences; supplemental retirement benefits.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.40.md) - [Fla. Stat. § 121.045 121.045 Consolidation of liabilities and assets; existing systems.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.045.md) - [Fla. Stat. § 121.046 121.046 Merger of the Judicial Retirement System into the Florida Retirement System Act.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.046.md) - [Fla. Stat. § 121.047 121.047 Consolidation of liabilities and assets; Institute of Food and Agricultural Sciences Supplemental Retirement Program; restriction.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.047.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TX_C121_PI_S121.30. Check the current official text before relying on it. Not legal advice.