Bill > H5007

This bill makes several changes to the Florida Retirement System (FRS): - It requires compulsory membership in the investment plan for employees initially enrolled on or after July 1, 2018 in the Elected Officers' Class, except for those who withdraw from the system. Membership in the pension plan for these employees is prohibited except in limited circumstances. - It prohibits certain Elected Officers' Class members from joining the Senior Management Service Class. - It authorizes renewed membership in the retirement system for certain retirees who are reemployed in a position eligible for the Elected Officers' Class, and for certain retirees of the Senior Management Service Optional Annuity Program. - It requires certain retirees reemployed on or after July 1, 2017 to be renewed members in the investment plan. - It revises the criteria for eligibility of death benefits to surviving children of a Special Risk Class member killed in the line of duty. - It prohibits participation in the pension plan, and provides that certain retirees eligible for the State University System Optional Retirement Program or State Community College System Optional Retirement Program are renewed members of those programs. - It authorizes payment of death benefits to surviving spouses or children of investment plan members. - It adjusts employer contribution rates to address unfunded actuarial liabilities.

Budget and Finance

Government Accountability Committee (House)

http://www.flsenate.gov/Session/Bill/2017/5007