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
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