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SB 1528

Transferring Years of Creditable Service

2026 Regular Session Introduced by Jason Pizzo

SB 1528 enables Florida public employees to transfer prior service credits between retirement systems, improving job mobility but potentially increasing pension liabilities.

Introduced
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Bill Summary · SB 1528

Legislative bill overview

SB 1528 allows public employees in Florida to transfer years of creditable service between different retirement systems or plans. This addresses situations where employees move between public sector jobs and want their prior service time counted toward vesting and benefit calculations in their new system.

Why is this important

Public employees who change jobs within the public sector often lose retirement credit for years worked, creating a disincentive to move between government positions and potentially disadvantaging workers who serve in multiple public roles. This bill could improve workforce mobility and fairness in retirement benefit calculations for state and local government employees.

Potential points of contention

  • Fiscal impact: Transferring service credits could increase unfunded liabilities for retirement systems by accelerating vesting timelines and benefit payouts, requiring actuarial analysis
  • System differences: Different retirement plans have varying contribution rates, benefit formulas, and funding mechanisms, making cross-system transfers administratively complex and potentially inequitable
  • Eligibility boundaries: Unclear whether transfers would apply only within Florida public systems or include federal/private sector service, and whether receiving systems must accept all transfers

Compiled from official sources — confirm details with the bill’s official record.

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