The Retirement Office develops and administers the City’s retirement systems in accordance with Florida Statutes and City Charter. In addition, the Retirement Office provides advice and assistance to more than 3,000 employees and retirees.
- Providing administrative services to current employees, retirees and beneficiaries.
- City Government Reviewing policy and procedures with potential retirees.
- Staffing the General Employee Retirement Board and participating in several other plans.
- Record keeping of all documents related to plan members, active and retired
- Act as a liaison between the Retirement Board, the City Administration, city employees and retired members.
- Processing loan request on a weekly basis.
- Preparing and submitting annual reports required by the State and Federal government.
- Coordination of monthly Retirement Board meetings.
The City of Hialeah offers several retirement plans. Employees are enrolled in the following plans:
- General Employee Retirement System is a defined benefit pension plan in which the employer promises a specific monthly benefit at retirement based on the employee’s earnings history and service years. The plan assets are held in trust and funded by employer contributions as determined by actuary and employee contributions. The system was closed to non-public safety employees hired after April 1, 2012. The General Employee Retirement Board meets monthly to review requests for retirement and reports on cash and investment performance.
- Elected Officers Retirement Trust is a pension plan for certain Assistant City Attorneys and Elected Officers. The system was closed January 1, 2014, and established a 7% employee contribution on non-vested participants. The Elected Officers Retirement Trust Oversight Committee meets quarterly to review reports on cash and investment performance.
- Defined Contribution Retirement System (commonly known as the 401(a) plan for its IRS code number) is a plan for non-public safety employees hired after April 1, 2012. The City contributes 7% and the non-public safety employee contributes 7% to the system. The Defined Contribution/Defined Benefits Committee review reports on cash and investment performance.
- Deferred Compensation Plan (commonly known as the 457 plan for its IRS code number)-for the City Attorney and certain Assistant City Attorneys as a retirement plan. Other City employees can utilize the plan as a secondary optional retirement with employee contribution only. The Defined Contribution/Defined Benefits Committee review reports on cash and investment performance
For additional information, please contact the Retirement Office at 305-883-5872.