Employees who are eligible to participate in the General Employees Pension Plan (GEPP) now have a new option to consider when planning for retirement. 

The city will continue to offer the current traditional pension plan (also called a "defined benefit" or "DB" plan).  However, employees now have a choice between the existing DB plan and a new plan, "defined contribution" or "DC" within the retirement system. 
 
The new Defined Contribution (DC) Plan is similar to a 401(k) Plan and is geared toward individuals who are more comfortable with making their own personal investment choices.  This new option can help serve as an important tool to help the city retain valuable employees and attract new workers in an increasingly competitive labor market. 
 
In addition, the Long-term Disability Program, which is currently included with the General Employees Pension Plan, would become a distinct fund that would cover all participants of both the Defined Benefit and Defined Contribution Plans.

More information and resources are available by clicking on the links at left or by contacting the Pension Office at (904) 255-7280 or at 407 N. Laura St, Ste 100, Jacksonville, FL 32202.