Senator Fasano Files Legislation to Prevent Elected Officials from "Double-dipping" Retirement BenefitsSenator Mike Fasano has filed SB 2830 which will prevent elected officials from the practice of "double-dipping" their retirement benefits. Under current law certain officials may enter the Deferred Retirement Option Program (DROP) by announcing their retirement and receive a lump sum of accrued retirement benefits as well as receive monthly retirement payments for up to five years of continued employment in their present position. The intention of the original legislation was to encourage long-serving, higher paid officials to retire and open the door for new employees or officials to move into higher positions SB 2830 will close a loophole that has allowed millions of dollars in benefits to be paid to officials elected to office or appointed to elective office long after their enrollment in the DROP has ended. The legislation will end the double payments at the expiration of the office holder's current term. "So-called retired elected and appointment officials will be required to decide if they are in the job to serve the public or to receive extra retirement benefits," Senator Fasano states. "If an individual wants to continue in office at the end of their current term they will no longer receive their monthly retirement payment until they truly retire." The companion bill is sponsored by State Representative Robert Schenck of Spring Hill.
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