The 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 where firefighters will contribute a percentage of their salary that increases over time, starting at six and one-half percent until September 30, 2024, and rising to twelve and seven-tenths percent by October 1, 2026. Additionally, beginning March 1, 2025, firefighters employed by certain cities will revert to a six and one-half percent contribution if they meet specific criteria related to city and county populations. The bill also introduces provisions for cities to contribute a percentage of the firefighters' salaries, with similar population-based criteria affecting the contribution rates.

Furthermore, the bill includes provisions for offsets in contributions for firefighters covered by an absolute coverage group, which will not apply to those in larger cities. The original sections of the law are repealed, and the bill declares an emergency, allowing it to take effect immediately upon passage. Overall, the changes aim to ensure a more structured and equitable contribution system for firefighters while addressing the financial responsibilities of the cities involved.

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