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Bill > S0224


FL S0224

FL S0224
Special Risk Class Retirement Date


summary

Introduced
01/18/2023
In Committee
01/26/2023
Crossed Over
Passed
Dead
05/05/2023

Introduced Session

2023 Regular Session

Bill Summary

Revising the definition of "normal retirement date"; decreasing the age and years of service needed to reach the normal retirement date for certain members; authorizing certain members of the Special Risk Class to apply to participate in the Deferred Retirement Option Program within a specified time period; providing a declaration of important state interest, etc.

AI Summary

This bill revises the definition of "normal retirement date" for members of the Special Risk Class of the Florida Retirement System. It decreases the age and years of service needed to reach the normal retirement date for certain Special Risk Class members. The bill also authorizes certain Special Risk Class members to apply to participate in the Deferred Retirement Option Program (DROP) within a 12-month period following the effective date of the bill, even if they had previously missed the 12-month DROP election period. To fund the benefit changes, the bill increases the required employer contribution rates for the Special Risk Class and DROP.

Committee Categories

Budget and Finance, Health and Social Services

Sponsors (24)

Other Sponsors (1)

Governmental Oversight and Accountability (S)

Last Action

Died in Appropriations (on 05/05/2023)

bill text


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