The following retirement bills were filed for consideration in the 2023 regular session of the Florida Legislature.
 
Subject
Contribution Rates – SB 7024
Cost-of-Living Adjustment - HB 181, SB 1354
DROP - HB 613, HB 905, SB 896, SB 926, SB 1034, SB 1670, SB 7024
Health Insurance Subsidy - SB 7024
Reemployment - SB 926, HB 1597
Senior Management Service Class - HB 375, SB 414
Special Risk Class Retirement Date - HB 239, SB 224, SB 7024
State Board of Administration - HB 1139, SB 110, HB 3
Survivor Benefits - HB 1311, SB 1452
Volunteer Services - HB 1121, SB 1156

House Bills
 
HB 3 Revises provisions relating to deposits and investments of state money, retirement system and trust fund assets, and public funds; bonds; government contracts; financial institutions; consumer finance; money services businesses; and unfair & deceptive trade practices.
 
HB 181 Specifies a minimum factor used to calculate the cost-of-living adjustment of benefits for certain retirees and beneficiaries of the FRS.
 
HB 239 Revises the definition of "normal retirement date" for the Special Risk Class.
 
HB 375 Provides that participation in the Senior Management Service Class of the FRS is compulsory for assistant regional counsel supervisors.
 
HB 613 Provides an additional 36 months in DROP for Special Risk Class members who are correctional officers.
 
HB 905 Removes time limitation for DROP eligibility for certain instructional personnel, administrative personnel, and educational support employees.
 
HB 1121 Requires the Division of Retirement to adopt rules for volunteer services and authorizes employers to establish volunteer programs. Approved by Governor; Chapter No. 2023-316.
 
HB 1139 Specifies when SBA may not pay certain benefits; authorizes SBA to develop investment products; modifies procedures for designation of beneficiaries; revises investments which SBA may make; authorizes SBA and affiliated entities to issue securities, borrow moneys and use proceeds of loans or financing obligations as loans or sources of funding; revises types of funds in which state may invest; revises amount of funds which may be invested in alternative investments.
 
HB 1311 Requires the benefits of an FRS member killed in the line of duty to be paid to the member's parents.
 
HB 1597 Authorizing the board of trustees of the Florida Virtual School to reemploy retirees in certain positions under certain conditions; authorizing additional personnel to participate in the Deferred Retirement Option Program.
 
Senate Bills
 
SB 110 Authorizing the board and certain affiliated entities and ventures to issue securities and borrow money through specified means; requiring the ownership of an entity holding title to real property to be vested in the name of the System Trust Fund; requiring the board’s evaluation of an investment to be based solely on pecuniary factors, etc. Approved by Governor; Chapter No. 2023-111.
 
SB 224 Revises the definition of "normal retirement date" for the Special Risk Class.
 
SB 414 Provides that participation in the Senior Management Service Class of the FRS is compulsory for assistant regional counsel supervisors.
 
SB 896 Removes time limitation for DROP eligibility for certain instructional personnel, administrative personnel, and educational support employees.
 
SB 926 Authorizing the board of trustees of the Florida Virtual School to reemploy retirees in certain positions under certain conditions; authorizing additional personnel to participate in the Deferred Retirement Option Program.
 
SB 1034 Provides an additional 36 months in DROP for Special Risk Class members who are correctional officers.
 
SB 1156 Requires the Division of Retirement to adopt rules for volunteer services and authorizes employers to establish volunteer programs.
 
SB 1354 Specifies a minimum factor used to calculate the cost-of-living adjustment of benefits for certain retirees and beneficiaries of the FRS.
 
SB 1452 Requires the benefits of an FRS member killed in the line of duty to be paid to the member's parents.
 
SB 1670 Provides an additional 60 months in DROP for specified instructional and administrative personnel.
 
SB 7024 Revises the required employer retirement contribution rates for each membership class of the Florida Retirement System, amends the normal retirement date for Special Risk Class members initially enrolled on or after July 1, 2011, to be the earlier of 25 years of creditable service, or age 55, eliminates the restrictive entry window for eligible members to participate in DROP, increases the maximum amount of time eligible members may participate in DROP from 60 to 96 calendar months for all membership classes, allows instructional personnel to extend their DROP participation for up to 24 calendar months in addition to the 96 months, increases the interest rate applied to a DROP member’s accrued monthly benefit from 1.3% to 4%, and increases the monthly retiree Health Insurance Subsidy from $5 to $7.50 for each year of creditable service (maximum monthly benefit is adjusted from $150 to $225 and the minimum monthly benefit is adjusted from $30 to $45. Approved by Governor; Chapter No. 2023-193.