SB 428 Summary

• Closes enrollment in the pension plan for employees of municipalities, metropolitan planning organizations, and special districts that apply to participate in the Florida Retirement System on or after January 1, 2017
• Requires new employees of these entities applying on or after January 1, 2017 to enroll in the defined contribution program under s. 121.4501 instead of the pension plan
• Allows employees of governing bodies that participated or applied to participate before January 1, 2017 to continue or choose enrollment in the pension plan
• Applies retroactively to January 1, 2017