The bill amends various sections of the Florida Statutes related to state-administered retirement systems, specifically focusing on the Elected Officers' Class and the Senior Management Service Class. It requires certain holders of elective office to participate in the Senior Management Service Class, with an exception for those who have assumed office by appointment, as they may not participate until they are elected or reelected. The bill also revises the membership criteria for the Elected Officers' Class, ensuring that participation is compulsory for certain elected officers and updating the language to reflect these changes.

Additionally, the bill modifies the required employer retirement contribution rates for various membership classes within the Florida Retirement System, with specific increases noted for the Elected Officers' Class and the Senior Management Service Class. The effective date for these changes is set for July 1, 2025. The legislation includes a declaration of important state interest, emphasizing the need for fair and adequate benefits for employees and retirees of the state and its political subdivisions.

Statutes affected:
H 5007 Filed: 121.055