FL S7022

Amends section 121.71, Florida Statutes, to revise required employer retirement contribution rates for all membership classes and subclasses of the Florida Retirement System, effective July 1, 2025

Increases the Regular Class employer contribution rate from 6.73% to 7.10% and the Special Risk Class rate from 18.66% to 20.10% of gross compensation

Adjusts unfunded actuarial liability contribution rates, including increases for Regular Class (4.84% to 4.87%), Special Risk Class (12.07% to 13.03%), and the Elected Officers' Class for legislators and constitutional officers (50.21% to 50.56%)

Decreases certain rates, including County Elected Officers' unfunded liability contributions (44.23% to 40.72%) and Senior Management Service Class unfunded liability contributions (23.90% to 22.45%)

Includes a legislative declaration that the act fulfills an important state interest by ensuring retirement benefits are fair, adequate, and funded in an actuarially sound manner as required by Article X, Section 14 of the Florida Constitution