| 1 | A bill to be entitled |
| 2 | An act relating to retirement for elected officials; |
| 3 | amending ss. 121.052 and 121.72, F.S.; reducing the |
| 4 | employer retirement contribution for members of the |
| 5 | elected officers class; providing an effective date. |
| 6 |
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| 7 | Be It Enacted by the Legislature of the State of Florida: |
| 8 |
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| 9 | Section 1. Subsection (10) of section 121.052, Florida |
| 10 | Statutes, is amended to read: |
| 11 | 121.052 Membership class of elected officers.- |
| 12 | (10) ACCRUED SERVICE VALUE.-Prior to July 1, 2011, a |
| 13 | member of the Elected Officers' Class who is a Supreme Court |
| 14 | justice, district court of appeal judge, circuit judge, or |
| 15 | county court judge shall receive judicial retirement credit of 3 |
| 16 | 1/3 percent of average final compensation, and all other members |
| 17 | shall receive elected officer retirement credit of 3 percent of |
| 18 | average final compensation, for each year of creditable service |
| 19 | in such class. Effective July 1, 2011, all members of such class |
| 20 | shall receive a retirement credit of 2 percent of average |
| 21 | compensation. |
| 22 | Section 2. Subsection (4) of section 121.72, Florida |
| 23 | Statutes, is amended to read: |
| 24 | 121.72 Allocations to optional retirement program |
| 25 | participant accounts; percentage amounts.- |
| 26 | (4) Effective July 1, 2002, Allocations from the Florida |
| 27 | Retirement System Contributions Clearing Trust Fund to optional |
| 28 | retirement program participant accounts shall be as follows: |
| 29 |
|
| | | Membership Class | Percentage of Gross CompensationFor July 1, 2002, throughJune 30, 2011 |
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| 30 |
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| 31 |
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| | |
| 32 |
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| | | Special Risk Administrative Support Class | 11.35% |
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| 33 |
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| | | Elected Officers' Class- Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders | 13.40% |
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| 34 |
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| | | Elected Officers' Class- Justices, Judges | 18.90% |
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| 35 |
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| | | Elected Officers' Class- County Elected Officers | 16.20% |
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| 36 |
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| | | Senior Management Service Class | 10.95% |
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| 37 |
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| 38 |
|
| | | Membership Class | Percentage of Gross CompensationEffectiveJuly 1, 2011 |
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| 39 |
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| | |
| 40 |
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| | |
| 41 |
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| | | Special Risk Administrative Support Class | 11.35% |
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| 42 |
|
| | | Elected Officers' Class- Legislators, Governor, Lt. Governor, Cabinet Officers, State Attorneys, Public Defenders | ....% |
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| 43 |
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| | | Elected Officers' Class- Justices, Judges | ....% |
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| 44 |
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| | | Elected Officers' Class- Local Elected Officers | ....% |
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| 45 |
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| | | Senior Management Service Class | 10.95% |
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| 46 |
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| 47 | Section 3. This act shall take effect July 1, 2011. |