Bill > S0184

This bill mandates compulsory membership in the Florida Retirement System Investment Plan for employees in the Elected Officers' Class or the Senior Management Service Class who are initially enrolled on or after July 1, 2014, meaning they will automatically be part of this investment-focused retirement plan unless they qualify for specific exemptions, such as the ability to withdraw from the system entirely or participate in certain optional retirement programs. The bill also prohibits elected officials eligible for the Elected Officers' Class from enrolling in the Senior Management Service Class or its associated optional annuity program, effectively closing off these options for new participants in those roles. Furthermore, it clarifies that employees initially enrolled in the Florida Retirement System before July 1, 2014, can keep their existing pension or investment plan membership and retain the option to switch plans, while those newly enrolled after that date in the specified classes are strictly required to be in the investment plan and cannot use the plan-switching option.