Florida H5205 revises employer retirement contribution rates for the Florida Retirement System.
Florida H5205 amends the Florida Retirement System by adjusting the required employer retirement contribution rates for various membership classes and subclasses, effective July 1, 2026. The bill specifies new contribution rates for classes such as Regular Class, Special Risk Class, Elected Officers' Class, and others, aiming to address unfunded actuarial liabilities. The changes are intended to ensure fair and adequate benefits for state and local government employees, officers, and retirees, managed in an actuarially sound manner.
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