This bill amends the Cities of the First Class Firefighters Retirement Act by updating the contribution rates for firefighters participating in the retirement system. Specifically, it establishes a tiered contribution structure for firefighters, with rates increasing from six and one-half percent to twelve and seven-tenths percent of their salary over several years. Additionally, starting March 1, 2025, firefighters employed by cities with populations over sixty thousand and located in counties with populations over one hundred thousand will have a fixed contribution rate of six and one-half percent. The bill also introduces provisions for cities to contribute a set percentage of the firefighters' salaries, with similar population-based criteria.

Furthermore, the bill includes provisions for offsets in contributions for both firefighters and cities, specifically stating that beginning July 20, 2024, firefighters covered by an absolute coverage group will receive a contribution offset of six and two-tenths percent of their salary. The bill repeals the original sections of the law and declares an emergency, allowing it to take effect immediately upon passage.

Statutes affected:
Introduced: 16-1024, 16-1025
Final Reading: 16-1024, 16-1025