WEBSITE LAST UPDATED
June 14, 2021
Record custodian contact information:
City of Fort Lauderdale
General Employees' Retirement System
316 NE 4th Street, Suite 2
Fort Lauderdale, FL 33301
Toll Free: 888-269-4447
The Pension Office is open to the public and restrictions previously required under COVID-19 have been lifted. Masks are not required of visitors and staff will only wear masks upon request. Board meetings have returned to live meetings effective June 1, 2021.
Pension Board Updates:
With great sadness we must report the Trustee Ron Cameron has passed away. Ron was a great man who faithfully served others and will be sorely missed.
GERS is pleased to announce the re-election of Lynn Wenguer and Marian Dollard to the Board of Trustees. Board Officers were just reappointed, Ms. Wenguer remains Chairperson, Ms. Prizlee Vice-Chairperson and Marian Dollard remains secretary. GERS also welcomes local resident Douglas Meade as the newly appointed City Trustee to the Pension Board. His experience from service to the business community and several other Boards in Fort Lauderdale will be beneficial to the Retirement System.
The first annual active member newsletter/update (click link to open) will be sent via e-mail soon.
The second annual retiree newsletter/update (click link to open) will be mailed out soon.
The Summary Plan Description (click link to open) is revised every two years and is now available.
Our Pension Plan Designed to Weather Stock Market Changes. Pension plan members should not panic over the recent dramatic drop in the stock market. The pension assets are invested in a balanced portfolio designed to minimize drastic downturns in the market, while spreading risk over many different types of asset classes. We have invested in asset classes that rise as the stock market declines. While some call this a market correction, others say it is a reaction to the coronavirus. We are in daily communications with the professionals who monitor our portfolio and are confident our asset allocation will withstand this short-term market disturbance. Our plan has achieved an average investment return of 8% over the past 25 years despite many severe market downturns. The Board of Trustees is confident in our investment strategy, which is designed for the long-term sustainability of our pension benefits.
GERS is pleased to announce the results of the recent election
for two positions on the Pension Board of Trustees.
Jeri Pryor was elected to the Pension Board and Jill Prizlee
was re-elected to the Pension Board. They will both serve as
Trustees for a three-year term beginning January 1, 2020
through December 31, 2022. Please join us in congratulating Jeri and Jill and wishing them much success!
The last annual retirement seminar was held on September 27, 2019, the seminar materials are available for download linked as 2019 Retirement Seminar.
The first retiree newsletter/update (click link to open) was mailed out October 5, 2018. The newsletter included an update on the status of cost-of-living adjustments and other important information. Since then, the matter has been considered twice by the City Commission most recently on February 19, 2019. Funding the cost of a COLA has become incorporated into the overall budgetary process, which will be developed over the coming months. One of our retirees, Hattie Brinson, has actively monitoring in the process from the beginning and has invited anyone interested in becoming involved to contact her at email@example.com.
Investment_Returns_2018_Fiscal_Year – we are very pleased to announce that the return of the Retirement System's investment portfolio was a remarkable 8.9% net-of-fees for the 2018 fiscal year. Even more impressive is that this return ranked in the top 29% of the public pension fund universe. These returns serve to enhance the already very strong financial position of the Retirement System. A full report is available for download linked as 2018 FY Investment Report.
The Board welcomes:
Douglas Meade - City appointed Trustee February 2, 2021
Jeri Pryor - employee elected Trustee joined the Board on January 1, 2000
Marian Dollard - employee elected Trustee joined the Board on January 1, 2018 and re-elected January 1, 2021
Jill Prizlee - employee elected Trustee joined the Board on January 1, 2017 and re-elected January 1, 2020
Lynn Wenguer - employee elected Trustee joined the Board on January 1, 2016
and re-elected again January 1, 2021
Ron Cameron - reappointed by the City as Trustee on January 1, 2016
Nicholas Schiess engaged as Plan Administrator on April 26, 2016
The Board says goodbye to the following significant contributors:
Jonathan Stahl - former chairman departed the Board on December 31, 2019.
William Long - former trustee retired and departed the Board on December 31, 2017
Mark Darmanin - former chairman and a very long serving member of the Board departed on December 31, 2016
Darlene Pfieffer and Julie Cameron - former City appointed trustees departed on December 31, 2015
Robert Dunkel - former legal counsel for many years retired on November 11, 2016
David Desmond - former Plan Administrator retired October 1, 2015 after 15 years of dedicated service.