Florida Senate - 2026                                    SB 1528
       
       
        
       By Senator Pizzo
       
       
       
       
       
       37-01681-26                                           20261528__
    1                        A bill to be entitled                      
    2         An act relating to transferring years of creditable
    3         service; creating s. 121.082, F.S.; requiring the
    4         Department of Management Services adopt rules to
    5         establish a process for employees in the Florida
    6         Retirement System to transfer years of creditable
    7         service to another employee in the system; specifying
    8         requirements for such process; providing an effective
    9         date.
   10          
   11  Be It Enacted by the Legislature of the State of Florida:
   12  
   13         Section 1. Section 121.082, Florida Statutes, is created to
   14  read:
   15         121.082 Transferability of prior service.—
   16         (1) The department shall adopt rules to establish a process
   17  for an employee to transfer years of creditable service to
   18  another employee.
   19         (2) At a minimum, such rules must provide for all of the
   20  following:
   21         (a) That an employee is eligible to transfer years of
   22  creditable service after 1 year of employment with an employer.
   23         (b) That participation is voluntary.
   24         (c) That the employee transferring years of service is a
   25  member of the same retirement classification as the receiving
   26  employee.
   27         (d) That years of service transferred to another employee
   28  are removed from the employee contributing the years of service.
   29         (e) That the transfer of years of service is irrevocable.
   30         (f) That the receiving employee is liable for any unfunded
   31  actuarial liability that results from an increase in his or her
   32  creditable years of service.
   33         (g) That employees who transfer service are prohibited from
   34  claiming past service or prior service under s. 121.081.
   35         (h) That employees who transfer service may not reenroll in
   36  the Florida Retirement System.
   37         Section 2. This act shall take effect July 1, 2026.