Bill > H5205

This bill adjusts the required employer contribution rates for the Florida Retirement System (FRS), which is a state-administered retirement plan for public employees, by changing the percentages of gross compensation employers must contribute. These changes, which take effect on July 1, 2026, apply to various membership classes and subclasses within the FRS, such as Regular Class, Special Risk Class (for hazardous duty positions), Elected Officers' Class, and Senior Management Service Class, with different rates also specified for the Deferred Retirement Option Program (DROP). The bill also includes a declaration of important state interest, asserting that providing fair, adequate, and actuarially sound retirement benefits to state and local government employees and their beneficiaries is a crucial governmental function, aligning with constitutional and statutory requirements for managing and funding retirement systems.

House State Administration Budget Subcommittee (House)

https://www.flsenate.gov/Session/Bill/2026/5205