FL H5005

Reduces employer contribution rates for Florida Retirement System members effective July 1, 2012, including Regular Class (3.55% to 3.28%), Special Risk Class (11.01% to 10.21%), and other membership classes.

Lowers employer contributions for State Community College System Optional Retirement Program from 10.43% to 8.15% of gross monthly compensation effective July 1, 2012.

Reduces employer contributions for Senior Management Service Class optional annuity program from 12.49% to 9.27% of gross monthly compensation effective July 1, 2012.

Adjusts employer contributions for State University System optional retirement program from 10.43% to 8.15% of gross monthly compensation effective July 1, 2012.

Modifies allocations from the Florida Retirement System Contributions Clearing Trust Fund to investment plan member accounts effective July 1, 2012, with varying percentage decreases across membership classes.