SB 7022 — Retirement
by Governmental Oversight and Accountability Committee and Senators DiCeglie and Hooper
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Governmental Oversight and Accountability Committee (GO)
The bill establishes the contribution rates paid by employers that participate in the Florida Retirement System (FRS) beginning July 1, 2025. These rates are intended to fund the full normal cost and the amortization of the unfunded actuarial liability of the FRS. The 3 percent employee contribution rate is not changed by this bill.
If approved by the Governor, or allowed to become law without the Governor’s signature, these provisions take effect July 1, 2025.
Vote: Senate 34-0; House 105-0