FL S1246

Allows retirees of the investment plan, State University System Optional Retirement Program, Senior Management Service Optional Annuity Program, and State Community College System Optional Retirement Program to renew membership and be reemployed effective July 1, 2017, with renewed members enrolling in the investment plan unless in an eligible university or community college position.

Prohibits creditable service accrual and contributions to renewed members' accounts for employment from July 1, 2010 through June 30, 2017, but allows contributions beginning July 1, 2017; renewed members cannot receive disability benefits or elect pension plan membership.

Expands line-of-duty death benefits for investment plan members killed in the line of duty on or after July 1, 2002 to include surviving spouse and children benefits previously limited to Special Risk Class members, with payments extending to age 25 for full-time student children.

Modifies investment plan enrollment procedures for new employees hired on or after January 1, 2018 to default enroll in the pension plan with a five-month election window to choose between pension or investment plan; employees who fail to elect within the period default to investment plan.

Effective date: July 1, 2017.