Retirement Benefits

The Town of Palm Beach offers a variety of retirement plans designed to complement the overall benefit package provided to town employees. These programs include a town-sponsored defined benefit pension plan for Police Officers and non-union Firefighters, and a defined benefit pension plan offered in conjunction with a 401(a) defined contribution plan that includes matching contributions from the town for all other employees. Additional benefits include a retirement health savings program, optional Roth IRA, and an optional 457 deferred contribution plan. Refer to the Employee Retirement Program Guide.

Retirement Board

The Retirement Board of Trustees consists of nine members that includes one employee from each of the benefit group:

  • General/Lifeguard
  • Firefighter
  • Police Officer

The employee is elected by members of the respective benefit group. Along with the employee members, five residents who are not officers or employees of the town, retirees, or beneficiaries of the retirement system hold a seat on the board. The Finance Director also holds an ex-officio seat.

Plan Contact and Participant Information

Reports

Actuarial Reports

Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2021
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2020
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2019
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2018
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2017
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2016
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2015
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2014
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2013
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2012

Chapter 112.664 F.S. Compliance Reports

General, Police Officers and Firefighters YE 09.30.2021
General, Police Officers and Firefighters YE 09.30.2020
General, Police Officers and Firefighters YE 09.30.2019
General, Police Officers and Firefighters YE 09.30.2018
General, Police Officers and Firefighters YE 09.30.2017
General, Police Officers and Firefighters YE 09.30.2016
General, Police Officers and Firefighters YE 09.30.2015
General, Police Officers and Firefighters YE 09.30.2014

Actuarial Summary Fact Sheets

General, Police and Fire 09.30.2018
General, Police and Fire 09.30.2017
General Employees 09.30.2016
Lifeguards 09.30.2016
Police Officers 09.30.2016
Firefighters 09.30.2016

Audit Reports

Townwide Retirement System Audit Report YE 09.30.2021
Townwide Retirement System Audit Report YE 09.30.2020
Townwide Retirement System Audit Report YE 09.30.2019
Townwide Retirement System Audit Report YE 09.30.2018
Townwide Retirement System Audit Report YE 09.30.2017
Townwide Retirement System Audit Report YE 09.30.2016
Townwide Retirement System Audit Report YE 09.30.2015
Townwide Retirement System Audit Report YE 09.30.2014
Townwide Retirement System Audit Report YE 09.30.2013
Police Officer Retirement System Audit Report YE 09.30.2012 and 2011
Firefighter Retirement System Audit Report YE 09.30.2012 and 2011
Police Officer Retirement System Audit Report YE 09.30.2011 and 2010
Firefighter Retirement System Audit Report YE 09.30.2011 and 2010

** Retirement Audit reports for the General Employee group for YE 09.30.2012 and earlier can be found in the Town of Palm Beach CAFR located within the Finance Department’s Financial Reports page**

Money Manager Reports

Defined Contribution Plan
General, Police Officers, and Firefighters DC Period Ending 09-30-2022
General, Police Officers, and Firefighters DC Period Ending 06-30-2022
General, Police Officers, and Firefighters DC Period Ending 03-31-2022
General, Police Officers, and Firefighters DC Period Ending 12-31-2021
General, Police Officers, and Firefighters DC Period Ending 09-30-2021
General, Police Officers, and Firefighters DC Period Ending 06-30-2021
General, Police Officers, and Firefighters DC Period Ending 03-31-2021
General, Police Officers, and Firefighters DC Period Ending 12-31-2020
General, Police Officers, and Firefighters DC Period Ending 09-30-2020
General, Police Officers, and Firefighters DC Period Ending 06-30-2020
General, Police Officers, and Firefighters DC Period Ending 12.31.2019
General, Police Officers, and Firefighters DC Period Ending 09.30.2019
General, Police Officers, and Firefighters DC Period Ending 03.31.2019
General, Police Officers, and Firefighters DC Period Ending 09.30.2018
General, Police Officers, and Firefighters DC Period Ending 03.31.2018
General, Police Officers, and Firefighters DC Period Ending 03.31.2017
General, Police Officers, and Firefighters DC Period Ending 12.31.2016
General, Police Officers, and Firefighters DC Period Ending 12.31.2022

Defined Benefit Plan
General, Police Officers, and Firefighters DB Period Ending 09-30-2022 
General, Police Officers, and Firefighters DB Period Ending 06-30-2022
General, Police Officers, and Firefighters DB Period Ending 03-31-2022
General, Police Officers, and Firefighters DB Period Ending 12.31.2021
General, Police Officers, and Firefighters DB Period Ending 09.30.2021
General, Police Officers, and Firefighters DB Period Ending 06.30.2021
General, Police Officers, and Firefighters DB Period Ending 03.31.2021
General, Police Officers, and Firefighters DB Period Ending 12.31.2020
General, Police Officers, and Firefighters DB Period Ending 09.30.2020
General, Police Officers, and Firefighters DB Period Ending 06.30.2020
General, Police Officers, and Firefighters DB Period Ending 03.31.2020
General, Police Officers, and Firefighters DB Period Ending 12.31.2019
General, Police Officers, and Firefighters DB Period Ending 09.30.2019
General, Police Officers, and Firefighters DB Period Ending 06.30.2019
General, Police Officers, and Firefighters DB Period Ending 03.31.2019
General, Police Officers, and Firefighters DB Period Ending 12.31.2018
General, Police Officers, and Firefighters DB Period ending 09.30.2018
General, Police Officers, and Firefighters DB Period Ending 06.30.2018
General, Police Officers, and Firefighters DB Period Ending 03.31.2018
General, Police Officers, and Firefighters DB Period Ending 12.31.2017
General, Police Officers, and Firefighters DB Period Ending 12.31.2022

Retirement Health Savings
General, Police Officers, and Firefighters RHS Period Ending 03.31.2017
General, Police Officers, and Firefighters RHS Period Ending 12.31.2016

60T Disclosure Reports
Report for period ending 09.30.2021
Report for period ending 09.30.2020
Report for period ending 09.30.2017

Special Reports

Special Report: Investment Manager Research Recommendation for General, Police, and Firefighter Dec 2012

Plan Change Reports

Defined Contribution (DC) Plan Review September 30, 2015
Town Manager’s Report and Recommendations April 6, 2010
Review of the Town’s Retirement Systems October 30, 2009

Summary Annual Report

Period Ending September 30, 2021
Period Ending September 30, 2020
Period Ending September 30, 2019
Period Ending September 30, 2018
Period Ending September 30, 2017