This bill amends section 121.091 of the Florida Statutes to remove the time limitation for participation in the Deferred Retirement Option Program (DROP) for certain school employees, including instructional personnel, administrative personnel, and educational support employees. The bill specifically deletes the previous stipulation that limited DROP participation to a maximum of 96 calendar months and allows these employees to extend their participation without the previous restrictions tied to the school year. The new language clarifies the eligibility criteria for DROP, ensuring that these employees can defer their retirement benefits while continuing their employment.

Additionally, the bill includes a declaration of important state interest, emphasizing the need for fair and adequate retirement benefits for state employees and their beneficiaries. This declaration underscores the importance of managing and funding these benefits in a sound manner, as required by the state constitution. The act is set to take effect on July 1, 2025, providing a significant change in the retirement options available to school employees in Florida.

Statutes affected:
S 478 Filed: 121.091