SB 400 — Reemployment of Retirees in the Florida Retirement System

A retiree employed in violation of this subsection and an employer that employs or appoints such person are jointly and severally liable for reimbursement of any benefits paid to the retirement trust fund from which the benefits were paid.

The employer must have a written statement from the retiree that he or she is not retired from a state-administered retirement system.

(f) A retired law enforcement officer may be reemployed as Page 3 of 6 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2024 CS for SB 400 585-02592-24 2024400c1 a school resource officer by an employer that participates in the Florida Retirement System and receive compensation from that employer and retirement benefits after meeting the definition of termination in s.

Paragraphs(1) (a)In andorder (b)to offund subsectionthe (2)benefit ofchanges sectionprovided 122.16,by this act, the required employer contribution rates for the members of the Florida Statutes,Retirement areSystem amendedestablished toin read:s.

122.16121.71(4), EmploymentFlorida afterStatutes, retirement.—are (2)(a)increased Anyas personfollows: retired under this chapter, except under the disability retirement provisions of ss.

122.09(a) andBy 122.34,0.02 maypercentage bepoint reemployed by any private or public employer in a position that qualifies for the SpecialRegular RiskClass. Class after retirement and receive retirement benefits and compensation from his or her employer without limitation, except that a no person may not receive both a salary from reemployment with any agency participating in the Florida Retirement System and retirement benefits under this chapter for a period of 6 12 months immediately subsequent to the date of retirement.

Page(b) 2By of0.05 3percentage CODING:point for the Special Risk Class.

(c) By 0.02 percentage point for the Special Risk Administrative Support Class.

(d) By 0.02 percentage point for the Elected Officers’ Class—Legislators, Governor, Lt.

Governor, Cabinet Officers, State Attorneys, Public Defenders.

(e) By 0.06 percentage point for the Elected Officers’ Class—Justices, Judges.

(f) By 0.03 percentage point for the Elected Officers’ Class—County Elected Officers.

(g) By 0.02 percentage point for the Senior Management Service Class.

(h) By 0.03 percentage point for the DROP.

(2) In order to fund the benefit changes provided by this act, the required employer contribution rates for the unfunded actuarial liability of the Florida Retirement System established Page 4 of 6 CODING:

Florida Senate - 2024 CS for SB 400 23-00372A-24585-02592-24 2024400__2024400c1 (b) Any person to whom the limitation in paragraphs. (a) applies who violates such reemployment limitation and is reemployed with any agency participating in the Florida Retirement System before prior to completion of the 6-month 12- month limitation period shall give timely notice of this fact in writing to his or her employer and to the department;

and121.71(5), hisFlorida orStatutes, herare retirementincreased benefitsas mustfollows: shall be suspended for the balance of the 6-month 12-month limitation period.

Any(a) personBy employed0.03 inpercentage violationpoint of this subsection and any employing agency which knowingly employs or appoints such person without notifying the department to suspend retirement benefits shall be jointly and severally liable for reimbursement to the retirementRegular trustClass. fund of any benefits paid during the reemployment limitation period.

To(b) avoidBy liability,0.07 suchpercentage employingpoint agencyfor shall have a written statement from the retireeSpecial thatRisk heClass. or she is not retired from a state-administered retirement system.

Any(c) retirementBy benefits0.07 receivedpercentage bypoint suchfor person while he or she is reemployed during this reemployment limitation period must shall be repaid to the retirementSpecial trustRisk fund,Administrative andSupport hisClass. or her retirement benefits must shall remain suspended until such repayment has been made.

Any(d) benefitsBy suspended0.06 beyondpercentage thepoint reemploymentfor limitation period shall apply toward the repaymentElected ofOfficers’ benefitsClass—Legislators, receivedGovernor, inLt. violation of the reemployment limitation.

Governor, Cabinet Officers, State Attorneys, Public Defenders.

(e) By 0.10 percentage point for the Elected Officers’ Class—Justices, Judges.

(f) By 0.07 percentage point for the Elected Officers’ Class—County Elected Officers.

(g) By 0.05 percentage point for the Senior Management Service Class.

(h) By 0.00 percentage point for DROP.

(3) The adjustments provided in subsections (1) and (2) are in addition to any other changes to such contribution rates which may be enacted into law to take effect on July 1, 2024.

The Division of Law Revision is directed to adjust accordingly the contribution rates provided in s.

121.71, Florida Statutes.

The Legislature finds that a proper and legitimate state purpose is served when employees, officers, and retirees of the state and its political subdivisions, and the dependents, survivors, and beneficiaries of such employees, officers, and retirees, are extended the basic protections afforded by governmental retirement systems.

These persons must be provided benefits that are fair and adequate and that are managed, administered, and funded in an actuarially sound manner as required by s.

14, Article X of the State Constitution and Page 5 of 6 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2024 CS for SB 400 585-02592-24 2024400c1 part VII of chapter 112, Florida Statutes.

Therefore, the Legislature determines and declares that this act fulfills an important state interest.

Section 4.

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