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The Florida Senate

CS/CS/HB 7011: Florida Retirement System

GENERAL BILL by State Affairs Committee ; Appropriations Committee ; Government Operations Subcommittee ; Brodeur ; (CO-INTRODUCERS) Precourt

Florida Retirement System; Limits ability of members of optional retirement program to transfer to FRS; provides for compulsory membership in FRS Investment Plan for employees initially enrolled after specified date; provides for compulsory membership in investment plan for certain employees; prohibits certain membership in Senior Management Service Class or Senior Management Service Optional Annuity Program; provides that certain participants in optional retirement program for State University System have choice between optional retirement program & FRS Investment Plan; requires SBA to develop investment products to be offered in investment plan; requires SBA to provide self-directed brokerage account as investment option; requires state board to contract with provider to provide self-directed brokerage account investment option; provides self-directed brokerage account requirements; deletes obligation of system employers to communicate existence of both retirement plans; provides additional death benefit to specified members of the Special Risk Class; limits disability benefits to eligible members; adjusts required employer contribution rates for unfunded actuarial liability of FRS for select classes; provides that act fulfills important state interest; requires SBA & DMS to request determination letter from IRS.

Effective Date: 7/1/2013
Last Action: 5/3/2013 Senate - Died on Calendar
Bill Text: PDF

Bill History

Date Chamber Action
2/7/2013 House • Filed
2/20/2013 House • Referred to Appropriations Committee; State Affairs Committee -HJ 138
3/5/2013 House • Introduced -HJ 138
3/6/2013 House • On Committee agenda-- Appropriations Committee, 03/08/13, 10:00 am, Webster Hall
3/8/2013 House • CS by Appropriations Committee; YEAS 13 NAYS 9 -HJ 216
3/11/2013 House • Pending review of CS under Rule 7.19(c)
• Now in State Affairs Committee -HJ 214
• CS by Appropriations Committee read 1st time -HJ 211
3/12/2013 House • On Committee agenda-- State Affairs Committee, 03/14/13, 9:00 am, Morris Hall
3/14/2013 House • CS/CS by- State Affairs Committee; YEAS 12 NAYS 6 -HJ 258
3/15/2013 House • Pending review of CS -under Rule 7.19(c)
• CS/CS by State Affairs Committee read 1st time -HJ 256
3/18/2013 House • Placed on Calendar -HJ 271
3/19/2013 House • Placed on Special Order Calendar, 03/21/13
3/21/2013 House • Read 2nd time -HJ 292
• Placed on 3rd reading
3/22/2013 House • Read 3rd time -HJ 311
• CS passed; YEAS 74 NAYS 42 -HJ 313
4/2/2013 Senate • In Messages
4/3/2013 Senate • Received -SJ 291
• Referred to Governmental Oversight and Accountability; Community Affairs; Appropriations -SJ 291
4/30/2013 Senate • Withdrawn from Governmental Oversight and Accountability; Community Affairs; Appropriations -SJ 808
• Placed on Calendar, on 2nd reading -SJ 808
• Substituted for CS/CS/SB 1392 -SJ 808
• Read 2nd time -SJ 808
• Amendment(s) pending (750668) -SJ 809
• Temporarily postponed on 2nd reading; On Unfinished Business
5/3/2013 Senate • Died on Calendar