Sec. 120.209. - Vesting, termination, re-employment.

(a) Except as otherwise provided in this Section, all rights to benefits under this Plan shall terminate when a member's employment terminates for any reason other than normal service retirement, early service retirement, or disability retirement. Any member who completes five years of credited service and whose contributions remain in the Plan has a vested right to accrued benefits from the System. No member who has completed less than five years of credited service shall have a vested interest in any accrued benefit. (b) A member who shall leave the service of the City prior to eligibility for normal service retirement or early service retirement, but who has completed five years of creditable service shall be entitled to receive retirement benefits commencing at age 65 at a 2.5 percent accrual rate for each year of creditable service. Such benefits will be based on final monthly compensation as defined in Section 120.201 (n) and credited service as of the date of termination. (1) Notwithstanding any provision to the contrary in this Part II, members actively employed by JEA on the effective date of a Recapitalization Event who have, at that time, completed less than five years of credited service: a. Shall be treated for all purposes under this Part II has having, as of such date, completed five years of credited service for vesting eligibility and for benefit accrual purposes and shall be considered vested in such accrued benefit and treated as a Vested Separated Member; b. Shall be entitled to receive such monthly accrued benefit commencing on the date otherwise applicable to Members as set forth in Section 120.209 (b) based on five years of credited service and final monthly compensation determined based on the member's average monthly compensation for the highest 36 consecutive months of JEA service, or if the member's actual period of JEA service is less than 36 months, the monthly average for the actual period of service, to the effective date of such Recapitalization Event; c. May rescind the deferred vested accrued benefit and, in lieu of the right to any future benefit from the Plan, receive a single sum amount equal to twice the accumulated employee contributions, without interest, either by lump sum payment or by rollover, as provided in Section 120.203 , provided the application to rescind vested rights is received by the Plan not less than six months prior to the date the deferred vested benefit would be payable; and (2) Notwithstanding any provision to the contrary in this Part II, members actively employed by JEA on the effective date of the Recapitalization Event who have, at that time, completed five or more years of credited service but who have not satisfied the conditions for time service requirement set forth in Section 120.206 (a) shall: a. Shall be treated for all purposes under this Part II as a vested separated member; b. Shall have additional years of credited service added for benefit accrual purposes as follows: each such vested separated member's monthly deferred vested benefit accrued as of the effective date of such Recapitalization Event shall be determined using the number of years of credited service such member would have as of their earliest normal retirement date (i.e., the earliest date the conditions set forth in Section 120.206 (a) would be satisfied if such member were to continue to working in covered employment until such date); c. Shall have the monthly vested benefit accrued as of the effective date of such Recapitalization Event determined using the member's final monthly compensation as of the effective date of such Recapitalization Event; d. Shall have the monthly vested benefit accrued as of the effective date of such Recapitalization Event determined with recognition of any minimum benefit applicable under Section 120.206 (g) including any indexation of the minimum as described therein; e. Shall be entitled to receipt of such monthly vested benefit accrued commencing on the earliest normal retirement date (i.e., the earliest date the conditions set forth in Section 120.206 (a) would be satisfied if such member were to continue to work in covered employment until such date). (3) Following a Recapitalization Event, and the accrual of additional service pursuant to Section 120.209 , JEA employees shall have no further accruals under the Retirement Plan unless reemployed by the City and in accordance with Section 120.202 (a)(4). (c) If a retiree or separated vested member re-enters City service in a position covered by this Plan, benefit payments shall cease and the retiree or separated vested member shall again become an active member of the Plan. Upon subsequent retirement, the new pension benefit shall be computed in accordance with the provisions of Section 120.206 , but based on a final monthly compensation computed as if there were no gap in time between the original retirement date and the reemployment date, provided that the period of re-employment exceeds one year. This Section shall not apply to retired members re-hired as poll workers, part-time workers or temporary workers. (d) Notwithstanding the provisions of subparagraph (c) above, or any other City ordinance to the contrary, any time service retiree of the City of Jacksonville General Employees Retirement Plan, who otherwise qualifies, may be re-employed by the City on a part-time or temporary basis without the cessation of retirement benefits payable to such retiree pursuant to Chapter 120 , Ordinance Code, because of, and during, such re-employment. For purposes of this subparagraph (d), the term "part-time" shall mean a position routinely requiring fewer than 25 hours of work per week (50 hours per pay period) on a regular and recurring basis, and the term "temporary" shall mean a full-time temporary position required for less than six months on a special assignment or to replace an employee on leave. Part time employees working for the Supervisor of Elections may, during the period beginning eight weeks before and ending two weeks after an election conducted by the Supervisor of Elections, work more than 25 hours per week (50 hours per pay period) without the cessation of retirement benefits payable under Chapter 120 , Ordinance Code. In no event shall any time service retiree of the City of Jacksonville General Employees Retirement Plan acquire time service credit or any other benefit under Chapter 120 , Ordinance Code, during, or in connection with, such re-employment, nor shall any amendment to the Plan not otherwise applicable to retired members apply to any re-employed retired member. (e) Members of the General Employees Retirement Plan may be re-employed by the City on a full-time basis in any capacity. In that event, payment of retirement benefits and accrual of COLA benefits shall be suspended for the period of re-employment and the retired members shall again become active members of the Plan. Upon the completion of the period of re-employment, and provided that the period of re-employment exceeds one year, the time service retirement benefit shall be re-computed, taking into account the additional credited service and any change in final monthly compensation occurring from the period of re-employment, as provided in Section 120.209 (c). In the case of a member of the General Employees Retirement Plan who is re-employed in accordance with this Section, the member may, in lieu of continuing in the Plan, make a one-time, irrevocable election to join the Defined Contribution Plan as set forth in Sections 120.501A , et seq. Such election must be made within 90 days of re-employment. In the case of such an election, the member's benefits in the General Employees Retirement Plan shall be frozen at the level in effect at the time of re-employment and will re-commence at the same amount upon separation from service. Members electing to join the Defined Contribution Plan shall not accrue any additional benefits, service, pensionable compensation, plan amendment or any other benefit from the General Employees Retirement Plan except for the benefits to be restarted upon separation from service; provided however that the accrual of COLA benefits under the General Employees Retirement Plan shall not be affected during such re-employment period. (Ord. 2005-432-E, § 2; Ord. 2006-1391-E, § 2; Ord. 2007-1136-E, § 1; Ord. 2017-258-E , § 1; Ord. 2019-566-E , § 1; Ord. 2022-412-E , § 2)