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FL H0425
Bill
Status
3/14/2020
Primary Sponsor
Chuck Clemons
Click for details
AI Summary
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Amends section 121.101, Florida Statutes to modify cost-of-living adjustments for Special Risk Class members of the Florida Retirement System
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Establishes a new calculation method for Special Risk Class retirees beginning July 1, 2020, using a factor equal to 3 percent multiplied by pre-July 1, 2011 service credit divided by total service credit earned as of June 30, 2020
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Applies only to individuals who were Special Risk Class members on June 30, 2011, remain members on their retirement date, and retired on or after July 1, 2011 with pre-July 1, 2011 service credit
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Takes effect July 1, 2020
Legislative Description
Cost-Of-Living Adjustment
Last Action
Died in Oversight, Transparency and Public Management Subcommittee
3/14/2020