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REPRESENTING JACKSONVILLE'S FINEST SINCE 1950
The Jacksonville FOP is a non-profit organization that protects and defends the interests of law enforcement officers of the Jacksonville Sheriff's Office  . In addition to negotiating wages, benefits and terms and conditions of employment, the FOP guards the health, welfare and safety of its members through its program services. Lodge 5-30 is well known for its service to the community and to local charities. Representing almost three thousand active and retired Jacksonville police officers, correctional officers and sworn bailiffs, Lodge 5-30 is the largest law enforcement organization in the State of Florida and the 7th largest FOP lodge in the United States. |
PENSION SETTLEMENT INFORMATION
| Pension Settlement Information Brothers and Sisters: Today a settlement was announced between the Jacksonville Police and Fire Pension Fund (PFPF) and the City. We want to ensure you have background information and the details regarding the agreement reached between the PFPF and the City. First, it is important to note that the FOP remains firm on its position that the PFPF negotiates retirement benefits for police and fire personnel. Second, the agreement announced between the PFPF and the City settlement is the result of years of negotiating, months of litigation at both the federal and state level, and several weeks of mediation. If you recall, the PFPF and the City reached a 30-year agreement in 2000 to address pension issues. To be clear, under the agreement just announced today, current members will NOT have their benefits changed. The PFPF and the City plan to memorialize the agreement as an actual judgment which solidifies the 30-year agreement previously negotiated between the City of Jacksonville and the Jacksonville Police and Fire Pension Fund as to existing employees. In regards to current PFPF fund members, any benefit you currently have will stay the same now, and will not change no matter how long you will work for the city. There were many benefits current members enjoyed that the City wanted to reduce, or take away entirely. The PFPF and unions held the line and refused to alter benefits current members enjoy. The media will report that current employees will increase their contribution to 9%, but that is misleading. As many of you already know, one of the terms of the current plan requires members to contribute 7% of their pay towards the long term stability of the fund. The City wanted members to contribute 2% more towards their pension benefits, but we refused in light of the fact that current members had to take a 3% percent pay reduction last year. The City therefore agreed that before any member increases their contribution towards their pension, the City would have to restore members? wages to the position he or she was in on December 31, 2011. Thereafter, when members receive pay increases, one-half of each percent of pay increase will be used to increase member contributions towards their pensions until the contribution rate equals 9%. This will apply to actual pay increases, not step-raises nor promotional raises. In other words, you will have to receive a 7% pay raise for the contribution to increase 2%. The City now has an incentive to restore the pay-cuts and give additional increases. Now, as to new hires, because the parties (PFPF and City) recognize and agree that it is in the best interest of the current members of the retirement plan and the citizens of Jacksonville, certain changes need to be made to support the long-term viability of the pension fund. This is why this agreement announced was reached as to new hires. Officers hired after October 1st of this year will have different pension benefits from current members, but in comparison to many other jurisdictions they have fared well. For employees hired after October 31, 2013 the following will apply: 1. Vesting: 10 years; 2. Benefits are capped at $99,999.99 indexed to inflation (Social Security COLA) with a cap of 1.5%; 3. Employees may retire with 30 years of service at any age; 4. Employees will earn their pension with an accrual rate of 2.5% for each year of service, subject to a 75% cap; 5. The Pension start date is normal retirement age (meaning an employee retires after 30 years of service at whatever age the employee has reached); 6. An employee may take early retirement only between 25 years and 30 years of service, and incurs a 3% accrual rate penalty for any year or part thereof short of 30 years. Notwithstanding this provision, the minimum pension a person taking early retirement under this section will not be less than 53.5% of employee?s final average compensation. 7. For any employee who leaves before completing 25 years of service, the benefit accrual rate would be 2%. No benefit would paid until age 62 for an employee who retires before reaching 25 years of service; 8. The Deferred Retirement Option Program ("DROP") is eliminated. 9. Back-DROP may be employed up to five years, upon reaching 30 years of service. Any employee whose Back-Drop calculation includes years of service less than 30 will incur a 2% accrual rate penalty for each of those years. 10. DROP interest Rate ? As there is no DROP, there is no applicable DROP rate. 11. The interest rate for the back-DROP is the actual accrual rate of the Plan provided it will not be less than zero or greater than 10% in any year; 12. Cost of Living Adjustment (COLA) on Retirement Benefits - COLA, based on the Social Security COLA, capped at 1.5 percent beginning the third January following employment termination; 13. Final Average Compensation (FAC) is based on last 60 months (130 pay periods); 14. Employees will make a pre-tax contribution of 10% of salary; 15. A spouse will be paid 75% of the retiree?s pension without cost (following retiree death); 16. Disability pensions will be provided at 50% of earnings base; 17. Shift and differential pay are included in the wages for pension calculation. However, the shift included in the calculation may not exceed 125% of the shift pay earned during the five years prior to the FAC period, adjusted for promotion. Thank you for taking the time to read this and if you have any questions feel free to contact me. Over the next few weeks I will attend roll calls to speak and answer any questions you may have. Fraternally, Steve Amos, President, Jacksonville FOP |
METLIFE FINANCIAL EDUCATION OPPORTUNITY
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JACKSONVILLE FOP LODGE 5-30 - UPCOMING EVENTS
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The Jacksonville FOP, Lodge 5-30 Upcoming Events: January 15, 2013 - Membership Meeting February 19, 2013 - Membership Meeting March 19, 2013 - Membership Meeting April 16,2013 - Membership Meeting Click Here to Contact the Lodge for more information |
HOW THE CITY CAUSED THE POLICE AND FIRE PENSION FUND CRISIS
How the City Caused the Police and Fire Pension Fund Crisis |
Graphical Analysis of City Contributions Rates and Pension Reserve Account Assessments to the GEPP and the PFPF You can view this document on-line, or you can save a copy, view and / or print it later. To save a copy, right click on the link and choose Download or Save As depending on your browser. |
POLICE AND FIRE PENSION LETTER TO COUNCIL
Police Fire Pension Fund Letter to Council (36 pages, 176kb file size) To save a copy, right click on the link and choose Download or Save As depending on your browser. |
TRIBUTE TO OUR FALLEN HEROES
A Tribute to Jacksonville's Fallen Heroes (Click the FOP Emblem to begin the video) Officers who have given the Ultimate Sacrifice for our safety and peace, their life... 1840 through 2007 "It is not how they died that made them heroes, it is how they lived" This video is dedicated to the brave officers and their families who laid so costly a sacrifice on the alter of freedom. |