Pompano Beach General Employees Retirement System

Pompano Beach General Employees Retirement System

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History of the Plan

History of the General Employees’ Retirement System

The City of Pompano Beach General Employees’ Retirement System was established by the City Commission by passage of Ordinance No. 73-3 on December 8, 1972 in order to provide retirement benefits to full-time General Employees of the City.  Prior to that time, the General Employees were covered by a plan funded through Provident Life and Accident Insurance Company.  Contributions and earnings from prior years, less a termination fee, were transferred from Provident to the General Employees’ Retirement System in the total amount of $459,547.00 to represent the initial funding of the Retirement System.  The Plan receives contributions from the employees who are members of the Plan and from the City of Pompano Beach.  The City is required by Ordinance to contribute an annual amount determined by the Plan’s Actuary to systematically fund the benefits under the Plan.

The Plan is administered by a board of seven Trustees, in accordance with the City of Pompano Beach Code of Ordinances 34.010 – 34.040.  Regular monthly meetings are held on the third Tuesday of each month, unless otherwise announced.

Select a link below to access other historical information concerning the General Employees’ Retirement System: (links open in a new window)

Past and Present Trustees

Historical Net Asset Values and Benefits Paid to Members