FL S7082

Increases employer contribution to retiree health insurance subsidy from 1.20% to 1.30% of gross compensation, effective July 1, 2014, for members of state-administered plans including Elected Officers' Class, Senior Management Service Class, and Regular/Special Risk Classes.

Adjusts required employer retirement contribution rates for various membership classes of the Florida Retirement System for fiscal year 2014, with changes ranging from 3.53% to 11.01% for regular contributions and 2.54% to 38.66% for unfunded actuarial liability contributions.

Increases employer assessment for administrative and educational expenses from 0.03% to 0.04% of payroll, effective July 1, 2014, to offset costs of administering the investment plan and providing educational services.

Declares that the Legislature finds a legitimate state purpose is served by extending basic protections and fair, adequate benefits through governmental retirement systems managed in an actuarially sound and sustainable manner.

Takes effect July 1, 2014.