TALLAHASSEE, Fla. (AP) — The Florida Senate on Wednesday moderated a bill that would require public employees to contribute to the Florida Retirement System, now fully supported by taxpayers.
The most significant change is a tiered contribution system instead of requiring all workers to contribute 3 percent of their wages regardless of pay level, which remains in a similar House bill.
The Senate bill now calls for contributions of 2 percent for the first $25,000 of pay, 4 percent for the next $25,000 and 6 percent for anything more.
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