Florida S7028 amends retirement benefits for elected officers and Special Risk Class retirees.
Florida S7028 modifies the Florida Retirement System by allowing elected officers to remain in office and receive Deferred Retirement Option Program (DROP) proceeds after reaching a certain age. It also extends termination limitations for these officers, making them ineligible for renewed membership and pension payments. The bill revises cost-of-living adjustments for Special Risk Class retirees and updates employer retirement contribution rates for various classes within the system.
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