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Glossary |
H
Health Insurance Subsidy or HIS
A supplementary benefit that may be paid to you after you retire under the Florida Retirement System to help you cover the cost of health insurance premiums. The amount you receive is based on your length of service. Effective July 1, 2001, the subsidy is $5 per month for each year of creditable service, with a minimum subsidy payment of $30 per month (if your benefit is based
on just 6 years of creditable service) and a maximum subsidy payment
of $150 per month (if your benefit is based on 30 or more years of
creditable service).
Hybrid Option, Hybrid Plan
The option to participate in the Investment Plan for all future employer contributions, while keeping current accrued Pension Plan benefit frozen in that plan (must have 5 years of Pension Plan service to participate).
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