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FREQUENTY ASKED QUESTIONS

Q. Is prior employment with another employer or service credit with another pension plan transferable to GERS?
No, unfortunately there are not provisions that allow the transfer or purchase of service credit for prior employment.

Q. I'm applying for a loan and the lender has requested verification on my pension, what is available?
Contact the Pension Office for an income verification for retirees or statement of balance of contributions if still employed.

Q. Are loans from the Pension Plan allowable under any circumstances ?
No, unfortunately there are not provisions that allows loans from the Pension Plan for any reason whatsoever including financial hardship.

Q. Can I keep my insurance after retiring and how much does it cost?
Generally the insurance can be continued after retirement and the cost fluctuates annually. Contact the City Benefits Office at 954-828-5300 for additional information.

Q. How does divorce affect my pension?
The answer can be very complicated and a divorcing Plan Member should contact the Pension Office as soon as possible.

Q. When are the annual tax reporting statements issued?
The 1099R tax statements are issued by January 31 every year.

Q. May a Plan Member make additional lump-sum or payroll deduction contributions to the Pension Plan?
Retirement benefits are based upon years of service and earnings. The amount of your contribution is set within the Ordinance at 6% of your regular salary and additional contributions cannot increase the pension benefit.

Q. When will I be eligible for an early retirement? 
You must have completed 15 years of service and reached age 50 to be eligible for an early retirement.

Q. When are the Annual Benefit Statements for actively employed Plan Members issued?
Generally the timing is for issuance is late January.

Q. Are pension benefits taxable?
Yes, pension benefits are generally considered taxable income but are not subject to payroll taxes (FICA, Medicare, unemployment, etc.).


Any questions regarding the General Employees' Retirement System or pension benefits should be directed to the Pension Office.

City of Fort Lauderdale General Employees’ Retirement System
316 NE Fourth Street, Suite 2
Fort Lauderdale, FL  33301

Regular business hours between 8:30 AM and 5:00 PM.

Phone:     (954) 828-5171
Toll Free: (888) 269-4447
Fax:         (954) 828-5270
E-Mail:     contact@citypension.com

 

 

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