Time Service Purchase

At the request of the Police and Fire Pension Board, the City Council enacted Ordinance 2003-1337-E, on November 12, 2003, to provide Members of the Police and Fire Pension Fund the option of purchasing past service in another FLORIDA City, County, Special District, or State Agency as a state certified Police Officer or Firefighter under the terms and conditions required by the Florida Statues. This Ordinance became effective with the signature of Mayor John Peyton on November 24, 2003. The Pension Board approved the procedures required to implement this new provision of the Ordinance Code.

This benefit may be applicable to you, if you are:

* A former employee of a City, County, Special District, or State Agency in the State of Florida, and your former employment required you to be a State Certified Police Officer or Firefighter.

* You did not achieve the right to vest or vest your previous retirement benefit.

The following process will be observed in handling the 'Time Service Purchase' authorized by this Ordinance:

* Obtain 'Application for Time Service Purchase' packet from the Pension Office.

* A separate completed application must be submitted for each former employer, if you worked for multiple public employers prior to employment with Jacksonville.

* Applications will be processed in the order they are received.

* The salary of the employee on the date the completed application is received at the Pension Fund Office will be utilized in determining the contribution required for the past service.

* Upon our receipt of the completed application we will perform the calculations to determine the amount of your required contribution for the past service credit. The cost of each month of past service is 20% of your salary. You will have a specified time period to make your decision.

You may purchase eligible past service in the following manner:

After tax Contribution: Write a check, for all or part of the required amount.

Pretax Contribution: Complete the forms at the Pension Office. The amount will be taken from you regular pay check on a 'pretax' basis for up to 130 pay periods.

Transfer from your Section 457 Deferred Compensation Plan via Trustee-to-Trustee transfer.

The time service purchase provision outlined above is not available to Members who have elected to enroll in the Deferred Retirement Option Program (DROP).