Florida Senate - 2023                        COMMITTEE AMENDMENT
       Bill No. SB 1034
       
       
       
       
       
       
                                Ì813240kÎ813240                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/15/2023           .                                
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       The Committee on Governmental Oversight and Accountability
       (Rodriguez) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 144 and 145
    4  insert:
    5         Section 2. (1) In order to fund the benefit changes
    6  provided in this act, the required employer contribution rates
    7  for the members of the Florida Retirement System established in
    8  s. 121.71(4), Florida Statutes, are increased as follows:
    9         (a) By 0.13 percentage point for the Special Risk Class.
   10         (b) By 0.06 percentage point for Deferred Retirement Option
   11  Program.
   12         (2) In order to fund the benefit changes provided in this
   13  act, the required employer contribution rates for the unfunded
   14  actuarial liability of the Florida Retirement System established
   15  in s. 121.71(5), Florida Statutes, are increased by 0.19
   16  percentage point for the Regular Class.
   17         (3) The adjustments provided in subsections (1) and(2) are
   18  in addition to any other changes to such contribution rates
   19  which may be enacted into law to take effect on July 1, 2023.
   20  The Division of Law Revision is directed to adjust accordingly
   21  the contribution rates provided in s. 121.71, Florida Statutes.
   22  
   23  ================= T I T L E  A M E N D M E N T ================
   24  And the title is amended as follows:
   25         Delete line 6
   26  and insert:
   27         for an additional 36 months; revising required
   28         employer retirement contribution rates to fund the
   29         benefit changes made by the act; providing a directive
   30         to the Division of Law Revision; providing a
   31         declaration