General Employees Pension Plan

General Employees’ Pension
Pension Analyst

Greg Abend: 954-344-2368

Plan Information

Employee Contribution Rate 10% (Closed to New Members)
City Contribution Determined Annually by Pension Board Actuary
Vesting 50% after Five Years of Continuous Service
Normal Retirement Eligibility Age 62, or age 55 with ten years of service
Normal Form of Benefit Single Life Annuity
Benefit Multiplier 3%
Average Monthly Earnings Based on highest consecutive three years of the ten full years immediately preceding retirement or termination date
COLA Annual COLA 2% on January 1 for qualified members
Stipend Stipend for members not retired and were active participants as on January 1, 2000. Two hundred dollars ($200.00) monthly to age 65 or one hundred fifty dollars ($150.00) monthly after age 65.
Assumed Rate of Return 6.5%
Cost Method Entry Age Normal
Salary Increases 5%
Mortality Table RP-2000 Projected Using Scale BB (FRS Assumption)

Current Financial and Actuarial Reports

  • Current Financial Report -coming soon
  • Administrative Budget -coming soon
  • Five Year Historical Return and Asset Allocation -coming soon
  • Actuarial Valuation Report -coming soon
  • Section 112.664, F.S. Required Disclosures -coming soon
    (Refer to the Actuarial Report above for information regarding the funding of the Plan)
  • Division of Retirement Fact Sheet -coming soon