HB 1179 Summary

• Requires employee contributions to the Florida Retirement System only for employees hired on or after July 1, 2011, making contributions mandatory for this cohort across multiple retirement plan classes.

• Establishes employer contribution rates of 8.15 percent of gross monthly compensation for public community college employees and State University System employees hired after July 1, 2011, effective July 1, 2013.

• Applies the same employee contribution requirements to Elected Officers' Class and Senior Management Service Class members hired after July 1, 2011, with employer contributions of 9.27 percent for Senior Management Service Optional Annuity Program members.

• Implements employer-paid employee contributions that are deducted from salary before federal tax computation and treated as employer contributions under 26 U.S.C. § 414(h)(2), with contributions reported as employer-paid employee contributions.

• Takes effect July 1, 2013, amending multiple sections of the Florida Statutes governing retirement system contribution structures and eligibility.