Florida League of Cities

FRS Employer Contribution Rates (Watch) – PENDING

HB 5007 (Appropriations) establishes the contribution rates paid by employers participating in the Florida Retirement System beginning July 1, 2022. These rates are intended to fund the full normal cost and the amortization of the unfunded actuarial liability of the FRS. The bill also modifies DROP to allow a member of the Special Risk Class who is a law enforcement officer to participate for up to 36 calendar months beyond the 60-month period if he or she enters DROP on or before June 30, 2028. (Hughes)