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Policy Area: STATE COURT SYSTEM |
Issue: FLORIDA RETIREMENT SYSTEM ADJUSTMENT - FY 2022-23 - NORMAL COST AND UNFUNDED ACTUARIAL LIABILITY (UAL) |
Justification
Governor's Recommendations 2023-24
This increase represents the distribution from Administered Funds for adjustments to the state's contribution rates for
the Florida Retirement System for Normal Costs, the Unfunded Actuarial Liability and DROP extension for law enforcement
officers, contained in Chapter 2022-159, Laws of Florida. These adjustments were effective July 1, 2022.