Florida Senate - 2026 SB 930
By Senator Martin
33-01407-26 2026930__
1 A bill to be entitled
2 An act relating to the Florida Retirement Savings Task
3 Force; providing a short title; creating s. 445.15,
4 F.S.; creating the Florida Retirement Savings Task
5 Force adjunct to the Department of Commerce; requiring
6 the department to provide administrative, technical,
7 and staff support to the task force; providing a
8 purpose for the task force; providing for the
9 membership of the task force; requiring the task force
10 to convene its first meeting within a specified
11 timeframe; requiring the task force to meet quarterly
12 or upon the call of the chair; requiring the task
13 force to elect a chair and vice chair; providing that
14 members serve without compensation but are entitled to
15 per diem and travel reimbursement; providing the
16 duties of the task force; authorizing the task force
17 to receive confidential and exempt information under
18 specified conditions; requiring the task force to
19 provide the Governor and Legislature a certain
20 preliminary report and a final report by specified
21 dates; providing for the expiration of the task force;
22 providing an effective date.
23
24 Be It Enacted by the Legislature of the State of Florida:
25
26 Section 1. This act may be cited as the “Florida Retirement
27 Savings Task Force Act.”
28 Section 2. Section 445.15, Florida Statutes, is created to
29 read:
30 445.15 Florida Retirement Savings Task Force.—
31 (1) There is created adjunct to the department the Florida
32 Retirement Savings Task Force, a task force as defined in s.
33 20.03(5). The department shall provide administrative,
34 technical, and staff support to the task force. The purpose of
35 the task force is to examine and develop recommendations to
36 expand access to retirement savings vehicles for private sector
37 employees who lack employer-sponsored retirement plans.
38 (2) The task force shall be composed of 15 members, as
39 follows:
40 (a) An actuarial or investment specialist well-versed in
41 long-term asset performance, appointed by the Governor.
42 (b) A community advocate who represents a low-income or
43 underserved community, appointed by the Governor.
44 (c) An attorney or policy analyst well-versed in labor law,
45 pension regulation, or state legislative frameworks, appointed
46 by the Governor.
47 (d) A representative from the American Association of
48 Retired Persons who may provide insight into senior financial
49 security and retirement readiness, appointed by the Governor.
50 (e) A Florida resident who has demonstrated experience in
51 retirement planning or workforce financial education, appointed
52 by the Governor.
53 (f) A current employee of the Department of Management
54 Services of the Division of Retirement, appointed by the
55 President of the Senate.
56 (g) A representative from the public sector, appointed by
57 the President of the Senate.
58 (h) A small business owner, appointed by the President of
59 the Senate.
60 (i) A certified financial planner, appointed by the
61 President of the Senate.
62 (j) A professor from a state university whose area of
63 academic research is labor economics, demography, or retirement
64 system design, appointed by the President of the Senate.
65 (k) A current employee of the department, appointed by the
66 Speaker of the House of Representatives.
67 (l) A representative from the private sector or a
68 nontraditional employment area, appointed by the Speaker of the
69 House of Representatives.
70 (m) A representative from a large employer or an employer
71 association, appointed by the Speaker of the House of
72 Representatives.
73 (n) A retirement policy analyst who is familiar with the
74 Florida Retirement System, appointed by the Speaker of the House
75 of Representatives.
76 (o) A professor from a state university whose area of
77 academic research is labor economics, demography, or retirement
78 system design, appointed by the Speaker of the House of
79 Representatives.
80 (3)(a) The task force shall convene no later than 60 days
81 after the effective date of this act and shall meet quarterly
82 thereafter or upon the call of the chair.
83 (b) At its first meeting, the task force shall elect a
84 chair and a vice chair from among its members.
85 (c) The task force may meet using communications media
86 technology as defined in s. 120.54(5)(b)2.
87 (d) Members serve without compensation but are entitled to
88 reimbursement for per diem and travel expenses as provided in s.
89 112.061.
90 (4) At a minimum, the task force shall do all of the
91 following:
92 (a) Assess current coverage gaps in this state in private
93 sector retirement.
94 (b) Review existing state and national models for
95 retirement plans.
96 (c) Propose policy, design, and implementation
97 recommendations.
98 (d) Identify regulatory, administrative, and financial
99 barriers to implementation.
100 (e) Evaluate fiscal impacts and possible funding
101 mechanisms.
102 (5) The task force may receive confidential or exempt
103 information from state agencies, and the task force must
104 maintain the confidential and exempt nature of such information
105 to the extent allowed by law.
106 (6)(a) No later than December 1, 2026, the task force shall
107 submit an interim report to the Governor, the President of the
108 Senate, and the Speaker of the House of Representatives which
109 outlines the task force’s initial findings.
110 (b) No later than June 1, 2027, the task force shall submit
111 to the Governor, the President of the Senate, and the Speaker of
112 the House of Representatives the final report that includes
113 actionable recommendations and proposed statutory language for
114 expanding access to retirement savings vehicles for private
115 sector employees who lack employer-sponsored retirement plans.
116 (7) This section expires July 1, 2028, unless reenacted by
117 the Legislature.
118 Section 3. This act shall take effect upon becoming a law.