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FL S7028
Bill
Status
Introduced
1/21/2026
Primary Sponsor
Appropriations
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AI Summary
- Elected officers (except legislators) may receive accumulated Deferred Retirement Option Program (DROP) proceeds while still in office after reaching age 59½, rather than waiting until termination
- The Division of Retirement or State Board of Administration must recoup DROP proceeds from elected officers if distributed before termination and the officer would otherwise be prohibited from receiving benefits due to pending charges or convictions
- Special Risk Class retirees (law enforcement, firefighters, etc.) with at least 72-96 months of service will receive enhanced cost-of-living adjustments equal to the greater of the standard formula or 1.5% annually, effective July 1, 2026
- Employer retirement contribution rates are revised for all Florida Retirement System membership classes effective July 1, 2026, with Special Risk Class increasing from 20.10% to 21.58% and most other classes seeing modest adjustments
- Allocations for disability coverage and line-of-duty death benefits for investment plan members are slightly increased for Special Risk Class members
Legislative Description
Retirement
Last Action
Laid on Table, refer to HB 5205
2/20/2026
Full Bill Text
No bill text available