Kathleen Passidomo
President of the Senate
THE FLORIDA LEGISLATURE
Paul Renner
Speaker of the House of
Representatives
March 5, 2024
The Honorable Paul Renner
Speaker, House of Representatives
The Honorable Kathleen Passidomo
President of the Senate
Dear Mr. Speaker and Madam President:
Your Conference Committee on the disagreeing votes of the two houses on CS/ HB 151, same
being:
An act relating to the Florida Retirement System.
having met, and after full and free conference, do recommend to their respective houses as
follows:
1. That the Senate recede from its Amendment 693208.
2. That the Senate and House of Representatives adopt the Conference Committee
Amendment attached hereto, and by reference made a part of this report.
The Honorable Paul Renner
The Honorable Kathleen Passidomo
March 5, 2024
Page 2
CS/HB 151
Representative Thomas J. Leek, Chair Representative Thad Altman, At-Large
Representative Robert Alexander Andrade, At-
Large
Representative Christopher Benjamin, At-Large
Representative Robert Charles Brannan III, At-
Large
Representative Demi Busatta Cabrera, At-Large
Representative Jennifer Canady, At-Large Representative Kevin D. Chambliss, At-Large
Representative Charles Wesley Clemons, Sr., At-
Large
Representative Fentrice Driskell, At-Large
Representative Randy Fine, At-Large Representative Sam Garrison, At-Large
Representative Michael Gottlieb, At-Large Representative Michael Grant, At-Large
Representative Tommy Gregory, At-Large Representative Christine Hunschofsky, At-Large
Representative Ralph E. Massullo, MD, At-Large Representative Stan McClain, At-Large
Representative Lawrence McClure, At-Large Representative Bobby Payne, At-Large
Representative Daniel Perez, At-Large Representative Felicia Simone Robinson, At-Large
Representative Bob Rommel, At-Large Representative Jason Shoaf, At-Large
Representative Kelly Skidmore, At-Large Representative Cyndi Stevenson, At-Large
Representative Josie Tomkow, At-Large Representative Susan L. Valdés, At-Large
Representative Patricia H. Williams, At-Large Representative Marie Paule Woodson, At-Large
Managers on the part of the House of Representatives
The Honorable Paul Renner
The Honorable Kathleen Passidomo
March 5, 2024
Page 3
CS/HB 151
Senator Doug Broxson, Chair Senator Ben Albritton, At-Large
Senator Bryan Avila Senator Dennis Baxley, At-Large
Senator Lori Berman Senator Lauren Book, At-Large
Senator Jim Boyd Senator Jennifer Bradley
Senator Jason Brodeur Senator Danny Burgess
Senator Colleen Burton Senator Alexis Calatayud
Senator Jay Collins Senator Tracie Davis
Senator Nick DiCeglie Senator Ileana Garcia
Senator Erin Grall Senator Joe Gruters
Senator Gayle Harrell Senator Ed Hooper
Senator Travis Hutson, At-Large Senator Shevrin D. Jones
Senator Jonathan Martin Senator Debbie Mayfield, At-Large
Senator Rosalind Osgood Senator Keith Perry, At-Large
Senator Jason W. B. Pizzo Senator Tina Scott Polsky
Senator Bobby Powell Senator Ana Maria Rodriguez
Senator Darryl Ervin Rouson, At-Large Senator Corey Simon
Senator Linda Stewart Senator Geraldine F. Thompson
Senator Victor M. Torres Senator Jay Trumbull
Senator Tom A. Wright Senator Clay Yarborough
Conferees on the part of the Senate The Honorable Paul Renner
The Honorable Kathleen Passidomo
March 5, 2024
Page 4
CS/HB 151
SUMMARY OF CONFERENCE COMMITTEE ACTION
The Conference Committee Amendment for CS/HB 151, relating to the Florida Retirement
System, establishes the contribution rates paid by employers that participate in the Florida
Retirement System (FRS) beginning July 1, 2024. These rates are intended to fund the full
normal cost and the amortization of the unfunded actuarial liability (UAL) of the FRS and the
impact of policy changes included in the amendment.
The amendment authorizes an FRS retiree to be reemployed with an employer participating in
the FRS and receive both compensation and retirement benefits, after meeting the definition of
termination. This effectively eliminates the “suspension of benefits” period typically applied
during months 7 through 12 after the date of termination.
The amendment closes the FRS Preservation of Benefits Plan to new members effective July 1,
2026. The Preservation of Benefits Plan currently provides for FRS members to be eligible to
receive a benefit that is in excess of the annual benefit limit established by the Internal Revenue
Service (IRS). Effective July 1, 2024, the limitation on an annual benefit under a defined benefit
plan is $275,000.
The amendment takes effect July 1, 2024.