Retirement News & Events
Annual Pension Meeting of the Plan Participants
The Pension Advisory Committees and the City's Retirement will be
holding the annual meeting of the pension plan participants as follows:
- General Employees: Thursday, April 11 / Notice / Agenda
- Firefighters: Wednesday, April 17 / Notice
- Police: Thursday, April 18 & 19
One of the purposes of the annual meeting is to elect a plan participant to serve on the advisory committee whenever there is a vacancy or an incumbent's term expires. Above are the notices sent to each plan participant and which seats are open for nominations.
The 2012 Fiscal Year Retirement System Annual Report is available for download (PDF)
Annual Town Show
The 9th Annual Town Show has been announced and entries are now being accepted for City of Tallahassee employee and retiree artwork. The deadline for submitting entries is 5pm, March 29, 2013. (see Details and Entry Form)
NEW Retirement Page in PeopleSoft Self-Service
This information applies to general employees; however, the legislation will affect firefighters and police officers when new contracts are negotiated and signed.
The Florida legislature passed a bill during the 2011 session that affected the City of Tallahassee pension plan. Prior to the bill, City ordinance allowed payment for up to 6 weeks of unused personal leave to be included in an employee's pension calculation. The new law stated that in order to include this leave, it must have been earned before July 1, 2011. As soon as we learned of it, all employees were notified of this bill so they could plan their leave accordingly.
As part of our notification to employees, the City Treasurer-Clerk and City Manager proposed allowing both personal and sick leave to be used in order to help employees who were affected by this legislation. As with personal leave, sick leave must have been earned before July 1, 2011 to be eligible. To capture these amounts, the City took a "snapshot" of each employee's leave balances on July 1, 2011. When you retire, you will be paid for all unused sick and personal leave according to existing HR policy (708). When calculating how much leave may be included in your pension payment, the City will use:
1. Up to 6 weeks of leave paid out at retirement.
2. The July 1 snapshot amount, if less than the leave balance at retirement.
A new page in PeopleSoft Self-Service will make it easy to check your snapshot amount and other retirement information.
How to View Your July 1, 2011 Leave Balances
on PeopleSoft HRMS Self-Service:
1. Log on to PeopleSoft HRMS Self-Service wth your PeopleSoft HR User ID and Password. If you do not know your PeopleSoft HR User ID and Password, contact ISS Systems One Stop Help Desk at 891-8855, Option 2.
2. Navigate to "Self Service," then to "Benefits," then to "Retirement Planning Info".
View PDF of this news item
If you have any questions, please contact the Retirement Office at 850-891-8343.
Annual Pension Statements for FY2011
The annual pension statements for FY-2011 have been generated and are accessible online through PeopleSoft HR Self-Service.
How to view your Pension Statements:
1. Log on to the PeopleSoft HRMS system with your User ID and Password. (If you do not know your User ID and Password, you can get help by calling ISS Systems One-Stop at 891- 8855, Option 2.)
2. Navigate to "Self Service," then to "Benefits," then to "COT Pension Statement" (see page detail at right).
(How to View Pension Statements-PDF) September 2011
Annual Benefits & Wellness Event 10/26, 7:30-1:30 at Jack McClean Community Center
Staff from the City Retirement division and also Prudential will be available to provide retirement planning assistance at the Annual Benefits and Wellness Event this year. You may want to take advantage of this opportunity to discuss your retirement needs and get answers to any questions you may have.
Retirement staff will be available to:
- Provide a hands-on introduction to the Retirement Website on talgov.com and the self-service resources available including retirement planning information, forms and calculators
- Provide hands-on assistance signing on to the City PeopleSoft Self-Service website and demonstrating the valuable resources available there
- Provide hands-on assistance signing on to the Prudential Financial website with an introduction to the resource available there for managing your Prudential investments
Prudential Financial Consultants will be available to meet with you to:
- Provide advice on 401(k) MAP and 457 RSVP investment allocation
- Discuss and provide advice on your retirement goals, objectives and the importance of proper planning
For more additional information on this event, please vist Human Resources Online Benefit Enrollment page.
New Investment options for MAP/RSVP/DROP/Supplemental Share Plan for Police & Fire
Periodically, the funds in the Plan are reviewed to ensure that an appropriate range of options is being offered, and to determine if changes need to be made to improve the available fund selection. Please read the documents linked below to learn about the important upcoming changes to the investment options in your Plan. These changes do not apply to temporary employees or employees who are currently in DROP program and have not retired. (August 2011)
City of Tallahassee Retirement Savings Voluntary Plan (RSVP)
City of Tallahassee Employees 401(k) Matched Annuity Pension Plan (MAP)
City of Tallahassee DROP Plan (Only for participants who have retired)
City of Tallahassee Supplemental Share Plan for Police Officers
City of Tallahassee Supplemental Share Plan for Firefighters
2011 Legislative Action Impacts City Pension Plan
This year's Florida Legislative session passed bill SB1128. This bill had a provision that will affect the City of Tallahassee's retirement plan benefit. The provision of interest concerns use of personal leave used in calculating your retirement benefit. Please review the summary of this and other changes of this bill (PDF).
Also, please review the Question and Answers (PDF) fielded by the Treasurer-Clerk's Office and the General Employees' Pension Advisory Committee. These answers are preliminary and we will continue to provide more information as it becomes available. May 2011
Changes to Prudential's GoalMaker portfolios
Changes to Prudential's GoalMaker portfolios, effective February 25, 2011. (See Notification Letter-PDF) February 2011
2011 Federal Tax Changes
Some retirees may be affected by recent changes to the tax law, tax tables and other legislation, thus reducing your net pension payment. (If you have any questions, please contact our Payroll Office (850) 891-8424. (See Notification Letter - PDF) February 2011
Beneficiary Designation for Retirement Plans
Employees and Retirees received a form from the City of Tallahassee Human Resources Division in August/September titled "Dependent and Beneficiary Personal Information" which requested validation of Beneficiary Designation. That form does not pertain to beneficiary designations you have made for Retirement Plans, including Pension Plan, 401(k) MAP, and 457 RSVP.
In the event you need to change the beneficiary for any of your Retirement Plans, please download and complete the "Beneficiary Designation Form." Once complete, please mail to City of Tallahassee - Retirement Administration, 300 S. Adams St. Box A-30, Tallahassee, FL 32301. Or deliver in person to City of Tallahassee - Retirement Administration, City Hall / 2nd Floor, 300 S. Adams St., Tallahassee, FL 32301
If you have any questions please contact the Retirement Office at 850-891-8323. (See Notification Letter- PDF) September 2010
Retirement Administration Launches New and Improved Website
The City of Tallahassee Retirement Administration Office is pleased to formally announce the release of the new Retirement Website on talgov.com. The new website was designed to provide employees as well as retirees access to comprehensive information about pension and other City retirement benefits via the internet.
On the new City of Tallahassee Retirement Services website you will find:
(See Announcement Flier - PDF) September 2010
Retirement News Archive (PDF)
This PDF contains the following articles
- Join Retiree Alumni Group
- Annual Pension Meeting of the Plan Participants
- Pension Protection Act of 2006 (Health Insurance Credit for retired Police Officers/Firefighters)
- City Commission Extends Benefits to Domestic Partners
- 19th Annual City of Tallahassee Retiree Appreciation Dinner
- Changes on investment options currently available with your Prudential Accounts
- Recent Changes to Federal Tax Rules
- Waiver of Required Minimum Distributions for Retirement Plan Participants for 2009