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Nearly seven months after Florida Gov. Ron DeSantis released his “Freedom First Budget” recommending an improved defined contribution retirement benefit for teachers and most public employees statewide, House Bill 5007 (HB 5007), which grants a 3% benefit increase to all active plan members, is now law. Over 180,000 educators, administrators, and other government workers participating in the default Florida Retirement System Investment Plan are slated to receive the additional 3%, effective July 2022.

United statesJeff brandesRon desantisJay trumbullPension integrity project at reason foundationFlorida senate committee on governmental oversightDeferred retirement option programReason foundationFirst budgetHouse billFlorida retirement system investment planPension integrity projectFlorida retirement systemFlorida senate committeeGovernmental oversightInvestment plan