| 1 | A bill to be entitled |
| 2 | An act relating to retirement; amending s. 121.71, F.S.; |
| 3 | revising the payroll contribution rates for the membership |
| 4 | classes of the Florida Retirement System for the state |
| 5 | fiscal years effective July 1, 2009, and July 1, 2010; |
| 6 | providing a declaration of important state interest; |
| 7 | providing an effective date. |
| 8 |
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| 9 | Be It Enacted by the Legislature of the State of Florida: |
| 10 |
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| 11 | Section 1. Subsection (3) of section 121.71, Florida |
| 12 | Statutes, is amended to read: |
| 13 | 121.71 Uniform rates; process; calculations; levy.-- |
| 14 | (3) Required employer retirement contribution rates for |
| 15 | each membership class and subclass of the Florida Retirement |
| 16 | System for both retirement plans are as follows: |
| 17 |
|
| | | Membership Class | Percentage of Gross Compensation,Effective July 1, 2009 2008 | Percentage of Gross Compensation,Effective July 1, 2010 2009 |
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| 18 |
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| | | Regular Class | 8.69% | 9.63% 9.60% |
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| 19 |
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| | | Special Risk Class | 19.76% | 22.11% 22.03% |
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| 20 |
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| | | Special Risk Administrative Support Class | 11.39% | 12.10% 11.98% |
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| 21 |
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| | | Elected Officers' Class - Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders | 13.32% | 15.20% 14.56% |
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| 22 |
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| | | Elected Officers' Class - Justices, Judges | 18.40% | 20.65% 20.37% |
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| 23 |
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| | | Elected Officers' Class - County Elected Officers | 15.37% | 17.50% 17.06% |
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| 24 |
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| | | Senior Management Class | 11.96% | 13.43% 13.36% |
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| 25 |
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| 27 |
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| 28 | Section 2. The Legislature finds that a proper and |
| 29 | legitimate state purpose is served when employees and retirees |
| 30 | of the state and its political subdivisions, and the dependents, |
| 31 | survivors, and beneficiaries of such employees and retirees, are |
| 32 | extended the basic protections afforded by governmental |
| 33 | retirement systems. These persons must be provided benefits that |
| 34 | are fair and adequate and that are managed, administered, and |
| 35 | funded in an actuarially sound manner, as required by Section |
| 36 | 14, Article X of the State Constitution, and part VII of chapter |
| 37 | 112, Florida Statutes. Therefore, the Legislature determines and |
| 38 | declares that this act fulfills an important state interest. |
| 39 | Section 3. This act shall take effect July 1, 2009. |