FL H5005

Increases employer contribution rates for retiree health insurance subsidies across all state-administered retirement system membership classes to 1.66% of gross compensation effective July 1, 2015, replacing previous rates ranging from 1.20% to 1.26%

Updates employer retirement contribution rates for the 2015-2016 fiscal year for all membership classes including Regular Class (2.91%), Special Risk Class (11.35%), Elected Officers' Class (varying by position from 6.48% to 11.39%), and Senior Management Service Class (4.32%)

Revises unfunded actuarial liability contribution rates for fiscal year 2015-2016 across membership classes, with some increases and some decreases from prior year rates to address system liabilities

Applies contribution changes to Regular, Special Risk, Special Risk Administrative Support, Elected Officers', and Senior Management Service Classes within the Florida Retirement System

Takes effect July 1, 2015