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Pension Plans

The Pension Division provides administrative services for the respective pension boards and for employees and retirees in areas such as enrollment, beneficiary changes, benefit calculations, payment processing and retiree and survivor benefit counseling.

The Pension Division administers the following programs:

  • Employees Retirement System; and DROP (General Employees) 
  • Fire Pension Fund; and DROP (Sworn Fire Employees)
  • Police Pension Fund; and DROP (Sworn Police Employees)
  • 401(a) Plan
  • 457 Deferred Compensation Plan

Retirement Plans

Employees Retirement System (ERS) - Regular full-time employees are enrolled in ERS following 90 days of full-time employment. Temporary full-time employees are enrolled after six months of continuous employment. 

Fire Pension Fund - Eligible employees are enrolled on their date of hire or the date they become a Sworn Fire employee, whichever is later.

Police Pension Fund - Eligible employees are enrolled on their date of hire or the date they become a Sworn Police employees, whichever is later. 

 401(a) Plan-  Eligible employees may elect to participate in the 401(a) Plan in lieu of participating in ERS. The City contributes to an account for each member; the member directs the investment of the account from a variety of options. The City's 401(a) plan provider is  ICMARC. Call 1-800-669-7400 or visit www.icmarc.org

All retirement plans except the 401(a) management plan have mandatory employee contributions.

Florida Statues Section 112.665(1)(e), require a link to the Dept. of Management Services.

457 DEFERRED COMPENSATION PROGRAM 
All employees are eligible to participate in the Deferred Compensation Plan at any time while employed. The Plan allows employees to "defer" or postpone receiving part of their pay until retirement. Deferred pay is invested at the employee's direction in any of the options available within the Plan. The city's 457 Deferred Compensation Plan provider is ICMARC.  Call 1-800-669-7400 or visit www.icmarc.org

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