Bill Text: FL S0624 | 2022 | Regular Session | Introduced

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Bill Title: Reemployment After Retirement

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2022-03-14 - Died in Governmental Oversight and Accountability [S0624 Detail]

Download: Florida-2022-S0624-Introduced.html

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       Florida Senate - 2022                                     SB 624
       
       
        
       By Senator Wright
       
       
       
       
       
       14-00589A-22                                           2022624__
    1                        A bill to be entitled                      
    2         An act relating to reemployment after retirement;
    3         amending s. 121.091, F.S.; authorizing a retiree of
    4         the Florida Retirement System to be reemployed under
    5         certain circumstances; providing an effective date.
    6          
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Paragraph (c) of subsection (9) of section
   10  121.091, Florida Statutes, is amended to read:
   11         121.091 Benefits payable under the system.—Benefits may not
   12  be paid under this section unless the member has terminated
   13  employment as provided in s. 121.021(39)(a) or begun
   14  participation in the Deferred Retirement Option Program as
   15  provided in subsection (13), and a proper application has been
   16  filed in the manner prescribed by the department. The department
   17  may cancel an application for retirement benefits when the
   18  member or beneficiary fails to timely provide the information
   19  and documents required by this chapter and the department’s
   20  rules. The department shall adopt rules establishing procedures
   21  for application for retirement benefits and for the cancellation
   22  of such application when the required information or documents
   23  are not received.
   24         (9) EMPLOYMENT AFTER RETIREMENT; LIMITATION.—
   25         (c) Any person whose retirement is effective on or after
   26  July 1, 2010, or whose participation in the Deferred Retirement
   27  Option Program terminates on or after July 1, 2010, who is
   28  retired under this chapter, except under the disability
   29  retirement provisions of subsection (4) or as provided in s.
   30  121.053, may be reemployed by an employer that participates in a
   31  state-administered retirement system and receive retirement
   32  benefits and compensation from that employer. However, a person
   33  may not be reemployed by an employer participating in the
   34  Florida Retirement System before meeting the definition of
   35  termination in s. 121.021 and may not receive both a salary from
   36  the employer and retirement benefits for 6 calendar months after
   37  meeting the definition of termination, except as provided in
   38  paragraph (f). Notwithstanding this paragraph, a retiree may be
   39  reemployed by an employer participating in the Florida
   40  Retirement System within 6 months immediately subsequent to the
   41  retiree’s retirement date if the retiree is employed on a part
   42  time basis and does not receive a salary from the employer and
   43  retirement benefits during the 6-month period after the date of
   44  retirement. However, a DROP participant shall continue
   45  employment and receive a salary during the period of
   46  participation in the Deferred Retirement Option Program, as
   47  provided in subsection (13).
   48         1. The reemployed retiree may not renew membership in the
   49  Florida Retirement System, except as provided in s. 121.122.
   50         2. The employer shall pay retirement contributions in an
   51  amount equal to the unfunded actuarial liability portion of the
   52  employer contribution that would be required for active members
   53  of the Florida Retirement System in addition to the
   54  contributions required by s. 121.76.
   55         3. A retiree initially reemployed in violation of this
   56  paragraph and an employer that employs or appoints such person
   57  are jointly and severally liable for reimbursement of any
   58  retirement benefits paid to the retirement trust fund from which
   59  the benefits were paid, including the Florida Retirement System
   60  Trust Fund and the Florida Retirement System Investment Plan
   61  Trust Fund, as appropriate. The employer must have a written
   62  statement from the employee that he or she is not retired from a
   63  state-administered retirement system. Retirement benefits shall
   64  remain suspended until repayment is made. Benefits suspended
   65  beyond the end of the retiree’s 6-month reemployment limitation
   66  period shall apply toward the repayment of benefits received in
   67  violation of this paragraph.
   68         Section 2. This act shall take effect July 1, 2022.