summary
Introduced
02/09/2022
02/09/2022
In Committee
02/17/2022
02/17/2022
Crossed Over
03/14/2022
03/14/2022
Passed
03/14/2022
03/14/2022
Dead
Signed/Enacted/Adopted
06/03/2022
06/03/2022
Introduced Session
2022 Regular Session
Bill Summary
An act relating to state-administered retirement systems; amending s. 121.091, F.S.; authorizing certain members to elect to participate in the deferred retirement program for an additional 36 months; amending s. 121.71, F.S.; revising required employer retirement contribution rates for each membership class and subclass of the Florida Retirement System; amending s. 121.72, F.S.; revising allocations to investment plan member accounts; providing a declaration of important state interest; providing an effective date.
AI Summary
This bill amends several sections of Florida's retirement system laws. It allows certain members, such as law enforcement officers in the Special Risk Class, to participate in the Deferred Retirement Option Program (DROP) for up to 36 months beyond the standard 60-month period. The bill also revises the required employer contribution rates for each membership class and subclass of the Florida Retirement System. Additionally, it adjusts the allocations from the Florida Retirement System Contributions Clearing Trust Fund to the investment plan member accounts. The bill includes a declaration that it serves an important state interest by providing fair and adequate benefits to state and local government employees, retirees, and their dependents in an actuarially sound manner.
Sponsors (1)
Other Sponsors (1)
Appropriations Committee (House)
Last Action
Chapter No. 2022-159 (on 06/03/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2022/5007 |
| Analysis - Appropriations Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2022/5007/Analyses/h5007z.APC.PDF |
| Bill | https://www.flsenate.gov/Session/Bill/2022/5007/BillText/e1/PDF |
| Bill | https://www.flsenate.gov/Session/Bill/2022/5007/BillText/er/PDF |
| Analysis - | https://www.flsenate.gov/Session/Bill/2022/5007/Analyses/H5007_ConferenceReport.PDF |
| House Floor Conference Committee Amendment #506819 | https://www.flsenate.gov/Session/Bill/2022/5007/Amendment/506819/PDF |
| Senate Floor Amendment (Delete All) #383086 | https://www.flsenate.gov/Session/Bill/2022/5007/Amendment/383086/HTML |
| Analysis - Appropriations Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2022/5007/Analyses/h5007.APC.PDF |
| Bill | https://www.flsenate.gov/Session/Bill/2022/5007/BillText/Filed/PDF |
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