The General Employees' Retirement Fund is a fiduciary pension trust fund and is a division of the City of Tampa, Revenue and Finance Department.
Each qualified general employee is included in one of two separate single-employer defined benefit 401(a) retirement plans. Both plans are pension trust funds covering full-time, part-time and certain types of temporary employees. The two plans are:
- Division A - Defined Benefit Plan: Eligible general employees (non-sworn) hired prior to October 1, 1981, (no social security component) and is currently closed to new enrollees.
- Division B - Defined Benefit Plan: Eligible general employees (non-sworn) hired on or after October 1, 1981, (has a social security component) and is open to new enrollees.
The General Employees' Retirement Fund combines the benefits of Division A and Division B. The plan is governed by a seven-member Board of Trustees appointed for three-year terms. Three of the members are appointed by the Mayor, three of the members are employees participating in the fund and elected by the members of the fund, and the remaining member is the City of Tampa, Chief Financial Officer. The Fund employs a GE Pension Plan Supervisor and staff to conduct the daily operations of the Fund including benefits administration, fiscal administration and retirement education. The laws of Florida authorize the Fund.