CS/CS/HB 479--Retirement.

The bill revises reemployment and renewed membership provisions of the Florida Retirement System (FRS) Act. The revisions affect all current FRS members and retirees, including those elected or appointed to an elective public office, in accordance with the two effective dates in the bill. The bill extends from !month to six months the exclusionary period immediately after retirement in which a retiree may not be reemployed with any FRS employer. Additionally, the reemployment limitation period, during which a retiree may not both collect retirement benefits and a salary from an FRS employer, is changed from months 2 through 12 immediately after retirement to months 7 through 12. The bill also removes all exceptions to reemployment limitations that currently exist for schools, community colleges, universities, paramedics and firefighters. Additionally, it eliminates renewed membership in the FRS but grandfathers in those members who are deemed renewed members before the effective date of the bill. The bill co-locates provisions relating to reemployment after retirement; repeals obsolete provisions relating to the study of interstate portability of retirement benefits; and makes clarifying changes to provisions relating to the Deferred Retirement Option Program. The bill has a delayed effective date of July 1, 2010, for certain reemployment restrictions. Subject to the Governor's veto powers, the effective date of this bill is July 1, 2009.