Sec. 120.216. - 2021 Limited Retirement Option.

(a) City Employee Members and Jacksonville Housing Authority Members. (1) Notwithstanding any other provision in this Part II to the contrary, a member, excluding JEA employees, may retire between April 1, 2021, and September 30, 2021, if on the date of such retirement the member has attained: a. Age 55 with ten years of credited service; or b. Age 60 with five years of credited service. A member who retires pursuant to this subsection (1) must retire between April 1, 2021 and September 30, 2021 and shall receive a benefit of 2.5 percent per year of credited service based on final monthly compensation and credited service, defined by subsections 120.201 (i) and (n), as of the date of termination. (2) Notwithstanding any other provision in this Part II to the contrary, early retirement shall be available to a member, excluding JEA employees, between April 1, 2021, and September 30, 2021, if on the date of early retirement the member has completed 20 or more years of credited service, but less than 30 years of credited service, regardless of age. A member who retires pursuant to this subsection (2) must retire between April 1, 2021 and September 30, 2021 and shall receive a benefit of two percent per year of credited service, based on final monthly compensation and credited service, defined by subsections 120.201 (i) and (n), as of the date of termination. (3) To be eligible for retirement under subsection (1) or (2) above, in addition to meeting the age and/or time service credit requirements, a member must submit written or electronic notice of the retirement election and the date of retirement to the Board between April 1, 2021 and May 31, 2021. Such election shall be binding on the member and irrevocable. In the event of the death of a member after providing notice of election but before the date of retirement, the provisions of subsections (1) and (2) shall not apply. All time service credit purchases, whether existing prior to or initiated during the early retirement period, must be completed no later than the date of retirement in order for the service purchased to be included in the member's benefit calculation. (4) Any member who elects to retire pursuant to subsection (1) or (2) above shall be prohibited from being re-employed by the City for a period of one year from the date of retirement, except that such member may be re-employed on a part-time or temporary basis pursuant to Sec. 120.209 (d). If a member who elects to retire pursuant to subsection (1) or (2) above is re-employed by the City on a full-time basis more than one year after retirement, the member shall be prohibited from becoming an active member of the General Employees Retirement Plan and shall not accrue any additional benefits, service, pensionable compensation, plan amendment or any other benefit from the General Employees Retirement Plan, and payment of retirement benefits except accrual of COLA benefits shall be suspended for the period of re-employment. (5) In lieu of retirement under the General Employees Retirement Plan, members meeting the age and/or time service credit requirements of subsection (1) or (2) may elect to convert to the GEDC Plan in accordance with Section 120.202 (e), and shall be subject to all of the terms, requirements, and restrictions of subsections (3) and (4) above. (b) JEA Members. (1) Notwithstanding any other provision in this Part II to the contrary, a JEA member may retire between May 1, 2021, and October 31, 2021, if on the date of such retirement the member has attained: a. Age 55 with 10 years of credited service; or b. Age 60 with five years of credited service. A member who retires pursuant to this subsection (1) must retire between May 1, 2021 and October 31, 2021 and shall receive a benefit of 2.5 percent per year of credited service based on final monthly compensation and credited service, defined by subsections 120.201 (i) and (n), as of the date of termination. (2) Notwithstanding any other provision in this Part II to the contrary, early retirement shall be available to a JEA member between May 1, 2021, and October 31, 2021, if on the date of early retirement the member has completed 20 or more years of credited service, but less than 30 years of credited service, regardless of age. A member who retires pursuant to this subsection (2) must retire between May 1, 2021 and October 31, 2021 and shall receive a benefit of two percent per year of credited service, based on final monthly compensation and credited service, defined by subsections 120.201 (i) and (n), as of the date of termination. (3) To be eligible for retirement under subsection (1) or (2) above, in addition to meeting the age and/or time service credit requirements, a member must submit written or electronic notice of the retirement election and the date of retirement to the Board between May 1, 2021 and June 30, 2021. Such election shall be binding on the member and irrevocable. In the event of the death of a member after providing notice of election but before the date of retirement, the provisions of subsections (1) and (2) shall not apply. All time service credit purchases, whether existing prior to or initiated during the early retirement period, must be completed no later than the date of retirement in order for the service purchased to be included in the member's benefit calculation. (4) Any member who elects to retire pursuant to subsection (1) or (2) above shall be prohibited from being re-employed by the City for a period of one year from the date of retirement, except that such member may be re-employed on a part-time or temporary basis pursuant to subsections 120.209 (d). If a member who elects to retire pursuant to subsection (1) or (2) above is re-employed by the City on a full-time basis more than one year after retirement, the member shall be prohibited from becoming an active member of the General Employees Retirement Plan and shall not accrue any additional benefits, service, pensionable compensation, plan amendment or any other benefit from the General Employees Retirement Plan, and payment of retirement benefits except accrual of COLA benefits shall be suspended for the period of re-employment. (5) In lieu of retirement under the General Employees Retirement Plan, members meeting the age and/or time service credit requirements of subsection (1) or (2) may elect to convert to the GEDC Plan in accordance with Section 120.202 (e), and shall be subject to all of the terms, requirements, and restrictions of subsections (3) and (4) above. (Ord. 2020-529-E , § 1)