Florida Senate - 2008 CS for CS for SB 2002
By the Committees on General Government Appropriations; Governmental Operations; Governmental Operations
601-06422-08 20082002c2
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A bill to be entitled
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An act relating to retirement; amending s. 121.71, F.S.;
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revising the payroll contribution rates for the membership
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classes of the Florida Retirement System for the state
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fiscal years effective July 1, 2008, and July 1, 2009;
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providing a declaration of important state interest;
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providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Subsection (3) of section 121.71, Florida
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Statutes, is amended to read:
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121.71 Uniform rates; process; calculations; levy.--
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(3) Required employer retirement contribution rates for
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each membership class and subclass of the Florida Retirement
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System for both retirement plans are as follows:
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Membership Class | Percentage of Gross Compensation,Effective July 1, 2008 2007 | Percentage of Gross Compensation,Effective July 1, 2009 2008 |
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Regular Class | 8.69% | 9.60% 9.59% |
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Special Risk Administrative Support Class | 11.39% | 11.98% 11.90% |
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Elected Officers' Class - Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders | 13.32% | 14.56% 14.99% |
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Elected Officers' Class - Justices, Judges | 18.40% | 20.37% 20.46% |
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Elected Officers' Class - County Elected Officers | 15.37% | 17.06% 17.15% |
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Senior Management Class | 11.96% | 13.36% 13.35% |
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DROP | 9.80% | 10.96% 10.89% |
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Section 2. The Legislature finds that a proper and
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legitimate state purpose is served when employees and retirees of
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the state and its political subdivisions, and the dependents,
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survivors, and beneficiaries of such employees and retirees, are
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extended the basic protections afforded by governmental
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retirement systems. These persons must be provided benefits that
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are fair and adequate and that are managed, administered, and
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funded in an actuarially sound manner, as required by Section 14,
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Article X of the State Constitution, and part VII of chapter 112,
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Florida Statutes. Therefore, the Legislature determines and
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declares that this act fulfills an important state interest.
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Section 3. This act shall take effect July 1, 2008.
CODING: Words stricken are deletions; words underlined are additions.