Florida Senate - 2011                                     SB 290
       
       
       
       By Senator Fasano
       
       
       
       
       11-00329-11                                            2011290__
    1                        A bill to be entitled                      
    2         An act relating to retirement for elected officials;
    3         amending ss. 121.052 and 121.72, F.S.; reducing the
    4         employer retirement contribution for members of the
    5         elected officers class; providing an effective date.
    6  
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Subsection (10) of section 121.052, Florida
   10  Statutes, is amended to read:
   11         121.052 Membership class of elected officers.—
   12         (10) ACCRUED SERVICE VALUE.—Prior to July 1, 2011, a member
   13  of the Elected Officers’ Class who is a Supreme Court justice,
   14  district court of appeal judge, circuit judge, or county court
   15  judge shall receive judicial retirement credit of 3 1/3 percent
   16  of average final compensation, and all other members shall
   17  receive elected officer retirement credit of 3 percent of
   18  average final compensation, for each year of creditable service
   19  in such class. Effective July 1, 2011, all members of such class
   20  shall receive a retirement credit of 2 percent of average
   21  compensation.
   22         Section 2. Subsection (4) of section 121.72, Florida
   23  Statutes, is amended to read:
   24         121.72 Allocations to optional retirement program
   25  participant accounts; percentage amounts.—
   26         (4) Effective July 1, 2002, Allocations from the Florida
   27  Retirement System Contributions Clearing Trust Fund to optional
   28  Membership Class                      Percentage of Gross CompensationFor July 1, 2002, throughJune 30, 2011
   29  Regular Class                                     9.00%             
   30  Special Risk Class                                20.00%            
   31  Special Risk Administrative Support Class            11.35%            
   32  Elected Officers’ Class— Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders            13.40%            
   33  Elected Officers’ Class— Justices, Judges            18.90%            
   34  Elected Officers’ Class— County Elected Officers            16.20%            
   35  Senior Management Service Class                   10.95%            
   36  Membership Class                      Percentage of Gross CompensationEffectiveJuly 1, 2011
   37  Regular Class                                     9.00%             
   38  Special Risk Class                                20.00%            
   39  Special Risk Administrative Support Class            11.35%            
   40  Elected Officers’ Class— Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders            ....%             
   41  Elected Officers’ Class— Justices, Judges            ....%             
   42  Elected Officers’ Class— Local Elected Officers            ....%             
   43  Senior Management Service Class                   10.95%            
   44         Section 3. This act shall take effect July 1, 2011.