THE BILL ITSELF

SB 7010

Roth Contribution Plans in Deferred Compensation Programs

underlined language is being added; struck language is being deleted. Line numbers are the Legislature's own — the same ones amendments cite.

Florida Senate - 2026 SB 7010 By the Committee on Governmental Oversight and Accountability 585-01710-26 20267010__

1 A bill to be entitled

2 An act relating to Roth contribution plans in deferred

3 compensation programs; amending s. 112.215, F.S.;

4 authorizing the state deferred compensation plan and

5 any deferred compensation plan offered by a county, a

6 municipality, or other political subdivision, or a

7 county constitutional officer, to offer a qualified

8 Roth contribution program; repealing s. 71 of chapter

9 2025-199, Laws of Florida, relating to employee

10 contributions to the state deferred compensation plan;

11 ratifying the actions of the Chief Financial Officer

12 which permitted contributions to a qualified Roth

13 contribution program under the state’s deferred

14 compensation plan; providing for retroactive

15 application; providing an effective date.

17 Be It Enacted by the Legislature of the State of Florida:

19 Section 1. Subsection (15) is added to section 112.215,

20 Florida Statutes, to read:

21 112.215 Government employees; deferred compensation

22 program.—

23 (15) Notwithstanding the requirements in paragraphs (6)(a)

24 and (b) that deferred compensation not be included in the

25 employee’s taxable income until actually received by the

26 employee under the terms of the plan, a deferred compensation

27 plan established pursuant to this section may offer to all

28 eligible employees a qualified Roth contribution program in

29 accordance with s. 402A of the Internal Revenue Code.

30 Section 2. Section 71 of chapter 2025-199, Laws of Florida,

31 is repealed.

32 Section 3. The Legislature hereby ratifies the actions of

33 the Chief Financial Officer which permitted, for purposes of the

34 state deferred compensation plan established pursuant to s.

35 112.215, Florida Statutes, contributions to a qualified Roth

36 contribution program in accordance with section 402A of the

37 Internal Revenue Code beginning July 1, 2024.

38 Section 4. This act shall operate retroactively to January

39 1, 2026.

40 Section 5. This act shall take effect upon becoming a law.