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Senate Bill 1286 |
Senate Author: Watson |
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Effective: 9-1-11 |
House Sponsor: Rodriguez, Eddie |
Senate Bill 1286 amends the law governing a firefighters relief and retirement fund in a municipality having a population of more than 750,000 and less than 850,000. The bill increases the municipality's rate of contribution to the fund from 18.05 percent of the compensation of all members during that month to 19.05 percent for the period beginning on the first pay date following September 30, 2010, through the pay date immediately preceding September 30, 2011, and periodically increases the municipality's rate of contribution in one percent increments until the municipality's rate of contribution is set at 22.05 percent of the compensation of all members during that month. The bill also increases each firefighter's rate of contribution to the fund from 13.70 percent of the firefighter's compensation for the month to 15.70 percent for the pay dates of the municipality following September 30, 2010, through the pay date immediately preceding September 30, 2011, and subsequently increases the firefighter's rate of contribution by 0.5 percent each year until the firefighter's rate of contribution is set at 18.70 percent of the firefighter's monthly compensation.