Retirement Benefits

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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 Sworn Police Officers and Certified Firefighters, and a Hybrid Plan for General Employees that includes a defined benefit pension plan in conjunction with a 401(a) defined contribution plan. The 401a plan includes matching contributions from the town for all general employees who qualify for the pension program. Additional benefits include a retirement health savings program, optional Roth IRA, and an optional 457 deferred contribution plan. The Employee Retirement Program Guide provides a summary of the Town's retirement and defined contribution plans and is currently being reviewed and revised, it will be posted once it is complete.

Retirement Board

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

  • General/Lifeguard
  • Firefighter
  • Police Officer

The employee members are elected by members of their 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 Deputy Town Manager - Finance also holds an ex-officio seat.

Plan Contact and Participant Information

Reports

Actuarial Reports

Chapter 112.664 F.S. Compliance Reports

Audit Reports

Money Manager Reports

Defined Contribution Plan
General, Police Officers, and Firefighters DC Period Ending 09-30-2024
General, Police Officers, and Firefighters DC Period Ending 06-30-2024
General, Police Officers, and Firefighters DC Period Ending 03-31-2024
General, Police Officers, and Firefighters DC Period Ending 12-31-2023
General, Police Officers, and Firefighters DC Period Ending 09-30-2023
General, Police Officers, and Firefighters DC Period Ending 06-30-2023
General, Police Officers, and Firefighters DC Period Ending 03-31-2023
General, Police Officers, and Firefighters DC Period Ending 12-31-2022
 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

Defined Benefit Plan

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