Read the full stored bill text
Florida Senate
-
2026
SB 930
By
Senator Martin
33-01407-26 2026930__
1 A bill to be entitled
2 An act relating to the Florida Retirement Savings Task
3 Force; providing a short title; creating s. 445.15,
4 F.S.; creating the Florida Retirement Savings Task
5 Force adjunct to the Department of Commerce; requiring
6 the department to provide administrative, technical,
7 and staff support to the task force; providing a
8 purpose for the task force; providing for the
9 membership of the task force; requiring the task force
10 to convene its first meeting within a specified
11 timeframe; requiring the task force to meet quarterly
12 or upon the call of the chair; requiring the task
13 force to elect a chair and vice chair; providing that
14 members serve without compensation but are entitled to
15 per diem and travel reimbursement; providing the
16 duties of the task force; authorizing the task force
17 to receive confidential and exempt information under
18 specified conditions; requiring the task force to
19 provide the Governor and Legislature a certain
20 preliminary report and a final report by specified
21 dates; providing for the expiration of the task force;
22 providing an effective date.
23
24 Be It Enacted by the Legislature of the State of Florida:
25
26 Section 1.
This act may be cited as the “Florida Retirement
27
Savings Task Force Act.”
28 Section 2. Section 445.15, Florida Statutes, is created to
29 read:
30
445.15
Florida Retirement Savings Task Force
.—
31
(1)
There is created adjunct to the department the Florida
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Retirement Savings Task Force, a task force as defined in s.
33
20.03(5). The department shall provide administrative,
34
technical, and staff support to the task force. The purpose of
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the task force is to examine and develop recommendations to
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expand access to retirement savings vehicles for private sector
37
employees who lack employer-sponsored retirement plans.
38
(2)
The task force shall be composed of 15 members, as
39
follows:
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(a)
An actuarial or investment specialist well-versed in
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long-term asset performance, appointed by the Governor.
42
(b)
A community advocate who represents a low-income or
43
underserved community, appointed by the Governor.
44
(c)
An attorney or policy analyst well-versed in labor law,
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pension regulation, or state legislative frameworks, appointed
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by the Governor.
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(d)
A representative from the American Association of
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Retired Persons who may provide insight into senior financial
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security and retirement readiness, appointed by the Governor.
50
(e)
A Florida resident who has demonstrated experience in
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retirement planning or workforce financial education, appointed
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by the Governor.
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(f)
A current employee of the Department of Management
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Services of the Division of Retirement, appointed by the
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President of the Senate.
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(g)
A representative from the public sector, appointed by
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the President of the Senate.
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(h)
A small business owner, appointed by the President of
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the Senate.
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(i)
A certified financial planner, appointed by the
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President of the Senate.
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(j)
A professor from a state university whose area of
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academic research is labor economics, demography, or retirement
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system design, appointed by the President of the Senate.
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(k)
A current employee of the department, appointed by the
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Speaker of the House of Representatives.
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(l)
A representative from the private sector or a
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nontraditional employment area, appointed by the Speaker of the
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House of Representatives.
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(m)
A representative from a large employer or an employer
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association, appointed by the Speaker of the House of
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Representatives.
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(n)
A retirement policy analyst who is familiar with the
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Florida Retirement System, appointed by the Speaker of the House
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of Representatives.
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(o)
A professor from a state university whose area of
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academic research is labor economics, demography, or retirement
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system design, appointed by the Speaker of the House of
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Representatives.
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(3)(a)
The task force shall convene no later than 60 days
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after the effective date of this act and shall meet quarterly
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thereafter or upon the call of the chair.
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(b)
At its first meeting, the task force shall elect a
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chair and a vice chair from among its members.
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(c)
The task force may meet using communications media
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technology as defined in s. 120.54(5)(b)2.
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(d)
Members serve without compensation but are entitled to
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reimbursement for per diem and travel expenses as provided in s.
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112.061.
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(4)
At a minimum, the task force shall do all of the
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following:
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(a)
Assess current coverage gaps in this state in private
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sector retirement.
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(b)
Review existing state and national models for
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retirement plans.
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(c)
Propose policy, design, and implementation
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recommendations.
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(d)
Identify regulatory, administrative, and financial
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barriers to implementation.
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(e)
Evaluate fiscal impacts and possible funding
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mechanisms.
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(5)
The task force may receive confidential or exempt
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information from state agencies, and the task force must
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maintain the confidential and exempt nature of such information
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to the extent allowed by law.
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(6)(a)
No later than December 1, 2026, the task force shall
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submit an interim report to the Governor, the President of the
108
Senate, and the Speaker of the House of Representatives which
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outlines the task force’s initial findings.
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(b)
No later than June 1, 2027, the task force shall submit
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to the Governor, the President of the Senate, and the Speaker of
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the House of Representatives the final report that includes
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actionable recommendations and proposed statutory language for
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expand
ing
access to retirement savings vehicles for private
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sector employees who lack employer-sponsored retirement plans
.
116
(7)
This section expires July 1, 2028, unless reenacted by
117
the Legislature.
118 Section 3. This act shall take effect upon becoming a law.