Current Year Budget


Governor's Recommendations 2022-23
The Governor's Budget Recommendation for Fiscal Year 2022-23 includes an increase of $130,603 in recurring General Revenue needed for pension and benefit payments to the retirees of Disability Benefits to Justices and Judges, the Florida National Guard, and State Officers and Employees Non-Contributory. The Department of Management Services, Division of Retirement (division), accounts for the General Revenue dollars paid out annually for monthly pensions and benefits. General Revenue funded pensions and benefits remain in the division's operating budget as pass through expenditures. This recommendation will include an increase of $34,009 in recurring General Revenue funds for pension benefits, including any applicable Cost of Living Adjustment (COLA) due to certain disabled justices and judges, who had at least ten years of service, and who are retired involuntarily due to disability upon recommendation by the judicial qualification commission, as provided by section 12(a) of Article V of the State Constitution and section 121.091(4)(j), Florida Statutes. There are 11 payees as of June 30, 2021. Further, an increase of $130,815 in recurring General Revenue will provide funds for retirement benefit payments to the retired members of the Florida National Guard who are at least age 62 with 30 years of service in the Florida National Guard. This benefit program has been administered by the division since 1972, as provided by section 250.22, Florida Statutes. The total pension benefits to be paid to Florida National Guard retirees is dependent on future military pay increases provided by the federal government, and as a result, cannot be accurately forecasted. There are 730 payees as of June 30, 2021. Lastly, a decrease of $34,221 in recurring General Revenue is due to a decline in the number of eligible state officers and employees. Over the years, this appropriation has been provided to pay pension benefits to certain state officers and employees who were continuously on the payroll on and after June 30, 1953, with 20 years of service at age 70, or with 30 continuous or 35 aggregate years at any age, regardless of whether they did or did not participate in an existing retirement system, as provided by section 112.05, Florida Statutes. Early retirement is provided for any state official or employee on or after January 1, 1976, with 29 consecutive years, regardless of age, who has a terminal or critical illness certified by two Florida-licensed physicians. The pension amount is calculated at one-half of the average salary received during the last ten years of service. Annual Cost of Living Adjustments (COLA) are specified in section 121.101, Florida Statutes. There are 3 payees as of June 30, 2020. This issue was included in the department's Legislative Budget Request.