Legislation has been introduced to the Jacksonville City Council that, if passed, would provide employees who are eligible to participate in the General Employees Pension Plan with a new option to consider when planning for retirement.  This site is intended to provide you with additional information about the proposal and the potential choices you may have regarding your retirement benefits if the legislation is approved. Under the legislation, the city would continue to offer the current traditional pension plan (also called a "defined benefit" or "DB" plan).  However,  employees who currently participate in, or are eligible to participate in, the General Employee's Pension Plan (GEPP) would also have a choice between the existing DB plan and a new plan within the retirement system. 
 
The new Defined Contribution (DC) Plan is similar to a 401(k) Plan, and is geared toward individuals who are more comfortable with making their own personal investment choices. 

 

This new option would serve as an important tool to help the city retain valuable employees and attract new workers in an increasingly competitive labor market. 
 
In addition, the Long-term Disability Plan, which is currently included with (and funded within) the General Employees Pension Plan, would become a distinct fund that would cover all participants of the Defined Benefit and Defined Contribution Plans.

 

More information and resources are available by clicking on the links at left or by contacting the Pension Office at (904) 630-1265 or at City Hall at St. James, 117 W. Duval St., Ste. 302, Jacksonville, FL 32202.