Retirement Benefit Information

Plan Status
Plan established under the Code of Ordinances for the City of Pompano Beach, Florida, Sections
34.045-34.073 and was most recently stated under Ordinance No. 2023-12, passed and adopted on
November 8, 2022. The Plan is also governed by certain provisions of Chapters 175 and 185, Florida
Statutes, Part VII, Chapter 112, Florida Statutes and the Internal Revenue Code.

Eligibility for Participation
(1)  All Police Officers and Dispatchers who were participants of the prior Employees’ Pension Plan and
(2) Police Officers and Dispatchers who elected to remain in the Plan prior to the takeover of the
police department by the Broward Sheriff’s Office on 8/1/99.
(3)  All Firefighters who were participants in the prior Employees’ Pension Plan; and
(4) All regular, full time Firefighters (20 hours per week and 5 months per year) from age 18, upon
date of employment.

Benefits

Normal Retirement

Eligibility
A Police Officer member may retire as follows:
(1) age 47 with 20 years of Continuous Service, or
(2) age 55 with 10 years of Continuous Service.

A Firefighter may retire as follows:
(1) 20 years of Continuous Service, or
(2) age 47 with 7 years of Continuous Service.

Multipliers
Police Benefit:  3.0% of Average Monthly Earnings (AME) multiplied by years of Continuous Service
up to a maximum of 25 years, plus 2.0% of AME multiplied by years of Continuous Service in excess
of 37.5.

Firefighter Benefit:  4.0% of AME multiplied by all years of Continuous Service, with a maximum
benefit equal to 80% of AME; plus 2% of AME multiplied by years of Continuous Service in excess of 40.

COLA
Members who retired Prior to 10/1/2022.  Beginning five years after benefit payments begin, retirees receive an automatic annual increase
of 2% on each October 1.  An additional annual increase of up to 1% is payable if certain conditions are met.  Members who retire on or
after 10/1/2022, Beginning 10/1/2025, retirees receive an automatic annual increase of 3% on each October 1.  An additional annual increase
of up to 1% is payable if certain conditions are met.

The Plan also offers early retirement, disability and death provisions.

DROP

Police DROP:  5 Years

Firefighter DROP:  8 years

For DROP Rules: DROP Rules 2022-12-13 final

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