Florida Gov. Ron DeSantis recently signed Senate Bill 7024, which makes several changes to state employee retirement plans in the Florida Retirement System. The bill is a mixed bag, with some provisions adding more risks and costs to an already strained public pension system, but the more impactful change is improving the long-term viability of the state’s defined contribution plan.
The first change in the law rolls back several cost-saving reforms that were implemented in 2011 for public safety workers, an unfortunate move considering the pension system is still on a long path to consistently being fully funded.
Alongside this potentially costly