retirement benefits

Representative Greg Steube (R-FL) has introduced a bipartisan bill improving flexibility for employer contributions to employee benefit plans. The Optimizing Participant Tax Incentives through Optional Noncash Selections (OPTIONS) Act builds upon the May 2024 Private Letter Ruling (PLR) 20243400 issued by the Internal Revenue Service (IRS), which allows single employers to implement flexible benefits programs […]

Representative Aaron Bean (R-FL) celebrated the recent passage of his Claiming Age Clarity Act out of the House Ways and Means Committee, which simplifies the language in retirement benefit programs for the benefit of seniors. For example, Social Security currently uses the term "Early Eligibility Age" to refer to the earliest point at which individuals […]

TALLAHASSEE, FL—Friday morning Governor Ron DeSantis nominated his long-time aide and Budget Director to become the next Executive Director of the State Board of Administration, which oversees Florida's struggling pension plans. Chris Spencer, the Director of Policy and Budget for the Governor, will go before the State Board of Administration's (SBA) trustees—Attorney General Ashley Moody, […]

Florida lawmakers in the state legislature are currently mulling over HB 151 – Cost-of-Living Adjustment (COLA) of Retirement Benefits – which would increase the pensions of approximately one million state employees with a 3% increase due to “cost-of-living.” According to the Tallahassee Democrat, the COLA measure was eliminated during the Great Recession to cut spending […]