TALLAHASSEE – Gov. Ron DeSantis and state lawmakers are gambling that an expansion of government employee retirement benefits that take effect Saturday will keep veteran teachers, firefighters, police and other crucial public employees from leaving their jobs.
The expansion of the Deferred Retirement Option Program could prove lucrative for career government workers and educators, who will be able to draw pensions while continuing to work for eight to 10 years instead of the current limit of five years.
But it comes at a high cost to the state agencies, universities and colleges, school districts, counties, cities and other government agencies that participate in the state retirement system. They will pay an extra $350 million a year as employer contribution rates go up, bringing their total contributions for 2023-24 to $3.1 billion.
