summary
Introduced
04/02/2025
04/02/2025
In Committee
04/02/2025
04/02/2025
Crossed Over
Passed
Dead
06/16/2025
06/16/2025
Introduced Session
2025 Regular Session
Bill Summary
An act relating to state-administered retirement systems; amending s. 121.052, F.S.; revising participation in the Elected Officers' Class; requiring certain holders of elective office to participate in the Senior Management Service Class; providing an exception; amending s. 121.055, F.S.; conforming cross-references; amending s. 121.71, F.S.; revising required employer retirement contribution rates for each membership class and subclass of the Florida Retirement System; providing a declaration of important state interest; providing effective dates.
AI Summary
This bill modifies the Florida Retirement System (FRS) by making several key changes to retirement participation and contribution rates for various public officials. It revises the Elected Officers' Class membership rules, requiring certain elected officials who are appointed to an office to participate in the Senior Management Service Class unless they choose to withdraw from the system entirely. The bill updates the participation requirements for elected officials from municipalities and special districts, clarifying when and how they can join the Elected Officers' Class. Additionally, the bill adjusts employer retirement contribution rates across multiple membership classes, including increases for Regular Class, Special Risk Class, Elected Officers' Class, and Senior Management Service Class, effective July 1, 2025. These changes are aimed at addressing unfunded actuarial liabilities in the state retirement system and ensuring proper management of retirement benefits. The bill includes a declaration that these modifications serve an important state interest by providing fair and actuarially sound retirement benefits for state and local government employees, retirees, and their beneficiaries.
Sponsors (1)
Other Sponsors (1)
House Budget Committee (H)
Last Action
Laid on Table, companion bill(s) passed, see SB 2500 (Ch. 2025-198), SB 7022 (Ch. 2025-205) (on 04/09/2025)
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/2025/5007 |
| Analysis - Budget Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2025/5007/Analyses/h5007z.BUC.PDF |
| Analysis - Budget Committee (Post-Meeting) | https://www.flsenate.gov/Session/Bill/2025/5007/Analyses/h5007.BUC.PDF |
| BillText | https://www.flsenate.gov/Session/Bill/2025/5007/BillText/Filed/PDF |
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