FL S7038

Increase retiree health insurance subsidy employer contribution rate to 1.58 percent of gross compensation effective July 1, 2015, applicable to all state-administered retirement plan members.

Update employer retirement contribution rates for Florida Retirement System membership classes effective July 1, 2015, with rates varying by class (Regular Class 2.91%, Special Risk Class 11.35%, Judges 11.39%, among others).

Adjust unfunded actuarial liability employer contribution rates for each membership class effective July 1, 2015, ranging from 2.65% to 37.62% depending on membership classification.

Establish legislative findings that the act serves important state interests by providing fair, adequate, and actuarially sound benefits and management for state and local government employees, officers, and retirees.

Take effect July 1, 2015.