Retirement Contribution Rates

John P. Kruczek, University ControllerThe Florida Legislature has revised the Florida Retirement System employer contribution rates for the next year. The tables below list the new employer contribution rate effective July 1, 1999 and the old employer contribution rate effective July 1, 1998 to June 30, 1999. PLAN CODE PLAN NAME NEW RATE OLD RATE HA Regular 10.15% 16.45% HB Special Risk 21.16% 25.32% HD F1/J1 Visa 10.15% 16.45% HJ Special Risk Adm. Support 12.47% 15.58% NF Federal Supplemental (2) – 7.17% HM Senior Management (SMSC) 12.13% 24.04% ON Optional Retirement Without FICA 10.15% 16.45% OP Optional Retirement Program 10.14% 16.45% RA FL Reemployed Retirement Member 10.15% 16.45% The new DROP Retirement codes and the employer contribution rates follow.

PLAN CODE	PLAN NAME	NEW RATE	OLD RATE
DP	DROP from FRS (FL Retirement System) (2)	–	12.50%
DR	DROP from Plan A, SCOERS (1) (2)	–	12.50%
DS	DROP from Plan B. SCOERS (2)	–	12.50%
DT	DROP from Teacher Retirement System,all plans (2)	–	12.50%

 

1. State and County Retirement
2. No Change

Please direct questions regarding Payroll processing and departmental charges to Murphy Miller (mjmiller@ufl.edu) at 392-1231. Questions regarding retirement programs and how these changes affect you should be directed to Joanne Dice (Joanne-Dice@ufl.edu) at 392-4941.