HB 1249 Summary

• Authorizes renewed membership in the Florida Retirement System for retirees reemployed on or after July 1, 2016, in regularly established positions, with creditable service and contributions beginning July 1, 2016.

• Prohibits creditable service accrual and contributions during the period July 1, 2010 through June 30, 2016 for reemployed retirees, and makes reemployed retirees ineligible for disability benefits during renewed membership.

• Requires reemployed retirees to satisfy vesting requirements before receiving retirement benefits and prohibits purchase of past service credit for the 2010-2016 employment period.

• Permits renewed members not receiving maximum health insurance subsidies to earn additional subsidy credit through renewed employment, with total subsidies capped at statutory maximums.

• Increases required Florida Retirement System employer contribution rates effective July 1, 2016 for all membership classes to fund the changes established by the act.