HB 333 - Reemployment After Retirement Summary

• Authorizes Florida Retirement System (FRS) members retired before July 1, 2010 to be reemployed by state-administered retirement system employers and receive both salary and retirement benefits, subject to a 12-month limitation period where they cannot receive both simultaneously.

• Establishes specific reemployment rules for district school boards, Florida College System institutions, State University System, Florida School for the Deaf and the Blind, developmental research schools, and charter schools, allowing reemployment as adjunct/substitute instructors after 1 calendar month of retirement with hour limitations (780 hours in first 12 months for some positions).

• Allows retirees whose retirement became effective on or after July 1, 2010 to be reemployed by FRS employers with both salary and benefits after meeting the definition of termination, subject to a 6-month limitation period where they cannot receive both simultaneously.

• Requires employers to pay retirement contributions equal to the unfunded actuarial liability portion of employer contributions when hiring retirees, and establishes joint and several liability for employers and retirees who violate reemployment limitations.

• Applies similar reemployment restrictions to Florida Retirement System Investment Plan retirees, requiring 6 calendar months of separation before reemployment with FRS employers; becomes effective July 1, 2015.