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a) Upon appointment as a City employee in a regular City position, the employee <br /> will be enrolled into the defined benefit FRS pension plan effective the date of <br /> the regular appointment. The employee has the option to elect the FRS <br /> Investment Plan and must inform the Division of Retirement directly within the <br /> allotted time. <br /> b) Vesting schedules vary per plan and are determined by Florida State Statutes. <br /> c) All information regarding individual employee FRS accounts are administered <br /> by FRS and can be attained by individual employees by either going on-line <br /> and accessing individual FRS account information or by contacting FRS <br /> directly. The Human Resources Department has information regarding FRS <br /> contact numbers and on-line internet addresses. <br /> 2) Voluntary ICMA 457 Deferred Compensation Plan <br /> The City offers a voluntary Section 457 tax deferred retirement savings program <br /> through the ICMA. This plan is available to eligible employees who wish to <br /> supplement future retirement income. The plan allows employees to put aside a <br /> portion of their earnings, up to the current federal limit, each pay period into an <br /> account for their retirement and reduce the amount of earnings that is currently <br /> taxable. The Human Resources Department administers this program through the <br /> ICMA. <br /> 3) Voluntary ICMA Roth IRA Plan <br /> The City offers a voluntary Roth IRA plan. This plan is available to eligible <br /> employees who wish to supplement future retirement income. The plan allows <br /> employees to put aside a portion of their earnings, up to the current federal limit, <br /> each pay period into an account for their retirement. The Human Resources <br /> Department administers this program through the ICMA. <br /> RETIREE HEALTH INSURANCE: <br /> 1) Eligibility: <br /> a. Eligible full-time employees of the City that are participants in the City's <br /> Health Insurance plans (the Plan) at the time of their retirement shall be <br /> afforded the option of continuing to participate in the Plan(s) as a <br /> Retiree. A"Retiree" is defined as an employee who voluntarily withdraws <br /> from one's position and qualifies as a retiree under Section 112.0801(2), <br /> Florida Statutes. The Retiree and any eligible dependent(s) may <br /> 503:2 Retirement Benefits for Command Staff Page 2 of 6 <br /> 146 <br />