FL H0905

Removes the 36-month time limitation for DROP (Deferred Retirement Option Program) participation beyond the initial 60-month period for instructional personnel, administrative personnel, and educational support employees in grades K-12 school districts.

Extends DROP eligibility to include instructional personnel, administrative personnel, and educational support employees at the Florida School for the Deaf and the Blind, as well as instructional personnel at developmental research schools.

Maintains existing requirements that DROP participants must have termination dates aligned with school year endings and requires employers to notify the division of any changes to termination dates and DROP participation periods.

Declares that the bill serves an important state interest by ensuring employees and retirees receive fair, adequate, and actuarially sound retirement benefits as required by the Florida Constitution and state law.

Takes effect July 1, 2023.