Retirement Benefit Information

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Plan Status

Plan established under the Code of Ordinances for the City of Pompano Beach, Florida, Sections 34.045-34.073 and was most recently stated under Ordinance No. 2023-12, passed and adopted on November 8, 2022. The Plan is also governed by certain provisions of Chapters 175 and 185, Florida Statutes, Part VII, Chapter 112, Florida Statutes and the Internal Revenue Code.

Eligibility for Participation

  1. All Police Officers and Dispatchers who were participants of the prior Employees’ Pension Plan.
  2. Police Officers and Dispatchers who elected to remain in the Plan prior to the takeover of the police department by the Broward Sheriff’s Office on 8/1/99.
  3. All Firefighters who were participants in the prior Employees’ Pension Plan.
  4. All regular, full time Firefighters (20 hours per week and 5 months per year) from age 18, upon date of employment.

Benefits

Normal Retirement

Eligibility

A Police Officer member may retire as follows:

  1. Age 47 with 20 years of Continuous Service.
  2. Age 55 with 10 years of Continuous Service.

A Firefighter hired Prior to 6/10/2026 may retire as follows:

  1. 20 years of Continuous Service.
  2. Age 47 with 7 years of Continuous Service.

A Firefighter hired On or After 6/10/2026

  1. 20 years of Continuous Service and attainment of age 50.
  2. Age 55 with 10 years of Continuous Service.

Multipliers

Police Benefit: 3.0% of Average Monthly Earnings (AME) multiplied by years of Continuous Service up to a maximum of 25 years, plus 2.0% of AME multiplied by years of Continuous Service in excess of 37.5.

Firefighter Benefit if Hired Prior to 6/10/2026: 4.0% of AME multiplied by all years of Continuous Service, with a maximum benefit equal to 80% of AME.

Firefighter Benefit if Hired On or After 6/10/2026:  3.25% of AME multiplied by all years of Continuous Service, with a maximum benefit equal to 80% of AME.

Average Monthly Earnings (AME)

Firefighter AME if Hired Prior to 5/27/2014: Average of highest three years.

Firefighter AME if Hired On or After 5/27/2014:  Average of highest five years.

COLA

All Members who retired Prior to 10/1/2022. Beginning five years after benefit payments begin, retirees receive an automatic annual increase of 2% on each October 1. An additional annual increase of up to 1% is payable if certain conditions are met.

Fire Members hired prior to 6/10/2026:  Retirees and DROP contributing Members receive an automatic annual increase of 3% effective October 1, 2025, and annually thereafter.  An additional annual increase of up to 1% is payable if certain conditions are met.

Fire Members hired on or after 6/10/2026: Retirees and DROP contributing Members receive an automatic annual increase of 2% on each October 1, after a one-year delay.  An additional annual increase of up to 1% is payable if certain conditions are met.

The Plan also offers early retirement, disability and death provisions.

DROP