Exh 13PENSION - POLICE EMPLOYEES
As of: 02/2004
City Atlantic Beach Fernandina Beach St.Augustine Jacksonville Beach Neptune Beach02/2004 02/2004
02/2004TypeofPlanDefinedBenefitDefinedBenefitDefinedBenefitDefinedBenefitDefined Benefit
Employee Contribution 1.00%5.00% 4.00%6.45% 8.00%City Contribution: 13.31 % 15.10% 2.50%4.00% 23.20%
10/01/03Vesting: 5 years= 100% 6 years= 100% 10 years= 100% 5 years= 100% 10 years= 100%
Eligibility to Retire Any Age with 25 YOS Age 55 with 6 YOS Age 55 with 10 YOS Age 55 with 5 YOS Age 55 with 10 YOSAge50with20YOSAnyagewith25YOSAge52with25YOSAge52with25YOSAnyagewith25YOSAge55with10YOS
Age 60 with 5 YOS
Normal Benefit 03 x YOS x FAS 03 x YOS x FAS 025 x YOS x FAS 03 x YOS x FAS up to .0275%x YOS x FAS
30 years then.02 x FAS
for each additional yearRetireeCOLANone. May be provided None.Up to 3% None None. May be providedbyCommissioners
by CommissionersEarlyRetirementAge50with10YOSAge50with10YOSAge50with10YOSAnyagewith20YOSAge50with10YOS3%reduction per each 3%reduction per each 3%reduction per each .625%reduction per 3%reduction per eachyearearlyyearearlyyearearlymonthfor1st60monthsyearearly
and.4583/month afterDROPPlan5YearDROPYes—5 Year DROP None Yes—3 year DROP Yes—5 year DROP,Early of Normal Retiree Normal Retiree Normal Retiree Age 55 and 10 YOS or
Any age with 25 YOSH:\oldpc\MyFiles\04-Pension\Summary of Plans-Feb 2004-POL.doc