The bill establishes the Florida Retirement Savings Task Force, which will operate as an adjunct to the Department of Commerce. The task force is tasked with examining and developing recommendations to enhance access to retirement savings options for private sector employees who do not have employer-sponsored retirement plans. It will consist of 15 members appointed by the Governor, the President of the Senate, and the Speaker of the House of Representatives, including specialists in various fields related to retirement planning and financial security. The task force is required to convene its first meeting within 60 days of the bill's effective date and will meet quarterly thereafter.

Additionally, the task force will assess current coverage gaps in private sector retirement, review existing retirement plan models, propose policy recommendations, and identify barriers to implementation. It is authorized to receive confidential information from state agencies and must maintain its confidentiality. The task force is required to submit an interim report by December 1, 2026, and a final report by June 1, 2027, detailing its findings and recommendations. The section establishing the task force will expire on July 1, 2028, unless reenacted by the Legislature.