Notice to All General Employee Pension Members
This is designed to acquaint employees with the major provisions of
the General Employee Defined Benefit (DB) Retirement Plan. This does not
attempt to cover in detail all of the technical information contained
in the Ordinance, but is intended to offer a concise description of the
benefits provided under the Plan.
The most frequently asked questions and respective responses related
to the DB Plan are covered in this document. The complete DB Plan
Ordinance is available through the:
Human Resources Office
General Employees Pension Board Members
The DB Plan provides a retirement replacement income equal to 2.5%
per year of service of pensionable earnings. When combined with other
retirement assets, e.g., social security and personal savings, etc.,
you could enjoy a considerable life long income.
The City's DB Plan is a major benefit in connection with your City
employment. This is but one way of recognizing the dedicated valuable
service rendered by our City employees in maintaining the quality of
life we enjoy in this community.
Sandra D. Davis
Human Resources Director
Summary Plan Description
This summary explains how the City of Lake Wales General Employees Defined Benefit (DB) Retirement Plan works and the benefits it provides. Intended only as a guide, this Summary Plan Description neither modifies nor replaces the full test of the Ordinance under which the Plan operates. (See the General Employee Defined Benefit Retirement Plan Ordinance 99-02, located on City Intranet, in Human Resources Department and from the General Employees Pension Board Members.