Sec. 120.504A. - Vesting.

Upon leaving employment, GEDC plan members will be entitled to 100 percent of their own contributions and earnings and will be entitled to the following percentages of the employer's contribution and earnings after the indicated number of years of service: Members of the GEDC plan shall be 25 percent vested upon the conclusion of two years of credited service and shall vest an additional 25 percent each year thereafter until fully vested upon the conclusion of five years of credited service. Provided, however, that Members actively employed by JEA on the effective date of a Recapitalization Event shall be deemed fully vested in their employer contributions and earnings credited to that date. (Ord. 2017-258-E , § 1; Ord. 2019-566-E , § 1)