SB 7022 Summary

• Expands state group insurance program to include additional benefits such as prepaid limited health services, discount medical plans, and price transparency tools; authorizes employees to use excess state contributions for flexible spending accounts, health savings accounts, supplemental benefits, or salary increases starting in 2020.

• Creates tiered health plan benefit levels (Platinum 90%, Gold 80%, Silver 70%, Bronze 60% actuarial value) effective 2020 plan year and requires Department of Management Services to develop implementation plan with independent benefits consultant.

• Allows retirees of investment plan, optional retirement programs, and Senior Management Service Optional Annuity Program to renew membership in Florida Retirement System if reemployed on or after July 1, 2017, with restrictions on creditable service accrual and disability benefits.

• Revises Florida Retirement System employer contribution rates effective July 1, 2017, across all membership classes (e.g., Regular Class from 2.97% to 2.90%, Special Risk Class from 11.80% to 11.86%) and extends line-of-duty death benefits to all investment plan members killed in line of duty on or after July 1, 2002.

• Provides $183.1 million in appropriations for 2017-2018 fiscal year salary and benefit adjustments including 5% competitive pay increases for law enforcement, minimum base rate adjustments for correctional officers, and compensation increases for judicial officers and other state employees effective October 1, 2017.