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The Florida Senate

CS/CS/HB 525: State Retirement

GENERAL BILL by Appropriations Committee ; Government Operations Subcommittee ; Workman ; (CO-INTRODUCERS) Artiles ; Caldwell ; Corcoran ; Steube

State Retirement; Revises definitions of terms "normal retirement date" & "vested" or "vesting"; clarifies provisions related to prohibition of hardship loans or payments; clarifies that retiree who is reemployed in regularly established position after certain date may not be enrolled as renewed member; authorizes certain distributions to member who is terminated from employment for 1 calendar month if member has reached normal retirement date; provides rulemaking authority to DMS; provides that benefit for purposes of optional retirement program for SUS includes certain distribution; clarifies when voluntary contributions may be paid out; requires new employees to, by default, be enrolled in investment plan; authorizes new employees to elect to participate in pension plan or investment plan within specified time; revises provisions related to disability retirement benefit calculation, early retirement benefit calculation, benefit commencement age & years of service, & disability retirement benefit calculation to conform to changes made by act; provides rulemaking authority to boards of trustees for colleges; provides for contribution rate adjustments to fund benefit changes provided in act; directs Division of Statutory Revision to adjust contribution rates set forth in s. 121.71, F.S.; provides declaration of important state interest.

Effective Date: 7/1/2012
Last Action: 3/9/2012 House - Died in State Affairs Committee, companion bill(s) passed, see CS/HB 7079 (Ch. 2012-222)
Bill Text: PDF

Bill History

Date Chamber Action
10/31/2011 House • Filed
11/4/2011 House • Referred to Government Operations Subcommittee; Appropriations Committee; State Affairs Committee -HJ 54
1/10/2012 House • Introduced -HJ 54
1/27/2012 House • On Committee agenda-- Government Operations Subcommittee, 01/31/12, 9:00 am, Morris Hall
1/31/2012 House • CS by Government Operations Subcommittee; YEAS 7 NAYS 6 -HJ 467
2/3/2012 House • Pending review of CS under Rule 7.19(c)
• CS by Government Operations Subcommittee read 1st time -HJ 463
2/6/2012 House • Now in Appropriations Committee -HJ 525
2/13/2012 House • On Committee agenda-- Appropriations Committee, 02/15/12, 8:00 am, Webster Hall
2/15/2012 House • CS/CS by Appropriations Committee; YEAS 12 NAYS 8 -HJ 683
2/17/2012 House • Pending review of CS under Rule 7.19(c)
2/20/2012 House • Now in State Affairs Committee -HJ 682
• CS/CS by Appropriations Committee read 1st time -HJ 674
2/23/2012 House • On Committee agenda-- State Affairs Committee, 02/24/12, 8:00 am, Reed Hall --Temporarily deferred
3/9/2012 House • Died in State Affairs Committee, companion bill(s) passed, see CS/HB 7079 (Ch. 2012-222)