Retirement Benefits

The Town of Palm Beach offers a variety of retirement plans designed to complement the overall benefit package provided to town employees. These programs include a town-sponsored defined benefit pension plan for Police Officers and non-union Firefighters, and a defined benefit pension plan offered in conjunction with a 401(a) defined contribution plan that includes matching contributions from the town for all other employees. Additional benefits include a retirement health savings program, optional Roth IRA, and an optional 457 deferred contribution plan. Refer to the Employee Retirement Program Guide.

Retirement Board

The Retirement Board of Trustees consists of nine members that includes one employee from each of the benefit group:

  • General/Lifeguard
  • Firefighter
  • Police Officer

The employee is elected by members of the respective benefit group.Along with the employee members, five residents who are not officers or employees of the town, retirees, or beneficiaries of the retirement system hold a seat on the board. The Town Manager, or in the Town Manager’s absence, the acting Town Manager also holds an ex-officio seat.

Plan Contact and Participant Information

Reports

Actuarial Reports

Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2017
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2016
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2015
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2014
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2013
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2012
Actuarial Valuation for General, Police Officers and Firefighters FYE 09.30.2011
Actuarial Valuation Report for General Employees FYE 09.30.2010
Actuarial Valuation Report for Police Officers FYE 09.30.2010
Actuarial Valuation Report for Firefighters FYE 09.30.2010

Chapter 112.664 F.S. Compliance Reports

General, Police Officers and Firefighters YE 09.30.2017
General, Police Officers and Firefighters YE 09.30.2016
General, Police Officers and Firefighters YE 09.30.2015
General, Police Officers and Firefighters YE 09.30.2014

Division of Retirement Actuarial
Summary Fact Sheets for 2017

General Employees
Lifeguards
Police Officers
Firefighters

Audit Reports

Townwide Retirement System Audit Report YE 09.30.2017
Townwide Retirement System Audit Report YE 09.30.2016
Townwide Retirement System Audit Report YE 09.30.2015
Townwide Retirement System Audit Report YE 09.30.2014
Townwide Retirement System Audit Report YE 09.30.2013
Police Officer Retirement System Audit Report YE 09.30.2012 and 2011
Firefighter Retirement System Audit Report YE 09.30.2012 and 2011
Police Officer Retirement System Audit Report YE 09.30.2011 and 2010
Firefighter Retirement System Audit Report YE 09.30.2011 and 2010
Police Officer Retirement System Audit Report YE 09.30.2010 and 2009
Firefighter Retirement System Audit Report YE 09.30.2010 and 2009

** Retirement Audit reports for the General Employee group for YE 09.30.2012 and earlier can be found in the Town of Palm Beach CAFR located within the Finance Department's Financial Reports page**

Money Manager Reports

Defined Contribution Plan
General, Police Officers, and Firefighters DC Period Ending 03.31.2018
General, Police Officers, and Firefighters DC Period Ending 03.31.2017
General, Police Officers, and Firefighters DC Period Ending 12.31.2016
General, Police Officers, and Firefighters DC Period Ending 12.31.2015
General, Police Officers, and Firefighters DC Period Ending 06.30.2015
General, Police Officers, and Firefighters DC Period Ending 12.31.2014
General, Police Officers, and Firefighters DC Period Ending 06.30.2014
General, Police Officers, and Firefighters DC Period Ending 12.31.2013
General, Police Officers, and Firefighters DC Period Ending 06.30.2013
General, Police Officers, and Firefighters DC Period Ending 12.31.2012

Defined Benefit Plan

General, Police Officers, and Firefighters DB Period Ending 06.30.2018
General, Police Officers, and Firefighters DB Period Ending 03.31.2018
General, Police Officers, and Firefighters DB Period Ending 12.31.2017
General, Police Officers, and Firefighters DB Period Ending 09.30.2017
General, Police Officers, and Firefighters DB Period Ending 06.30.2017
General, Police Officers, and Firefighters DB Period Ending 03.31.2017
General, Police Officers, and Firefighters DB Period Ending 12.31.2016
General, Police Officers, and Firefighters DB Period Ending 09.30.2016
General, Police Officers, and Firefighters DB Period Ending 06.30.2016
General, Police Officers, and Firefighters DB Period Ending 03.31.2016
General, Police Officers, and Firefighters DB Period Ending 12.31.2015
General, Police Officers, and Firefighters DB Period Ending 09.30.2015
General, Police Officers, and Firefighters DB Period Ending 06.30.2015
General, Police Officers, and Firefighters DB Period Ending 03.31.2015
General, Police Officers, and Firefighters DB Period Ending 12.31.2014
General, Police Officers, and Firefighters DB Period Ending 06.30.2014
General, Police Officers, and Firefighters DB Period Ending 09.30.2014
General, Police Officers, and Firefighters DB Period Ending 03.31.2014
General, Police Officers, and Firefighters DB Period Ending 09.30.2013
Quarterly Report for General Employees Period Ending 09.30.2012
Quarterly Report for Police Officers Period End 09.30.2012
Quarterly Report for Firefighters Period End 09.30.2012
Quarterly Report for General Employees Period Ending 09.30.2011
Quarterly Report for Police Officers Period End 09.30.2011
Quarterly Report for Firefighters Period End 09.30.2011
Quarterly Report for General Employees Period Ending 09.30.2010
Quarterly Report for Police Officers Period End 09.30.2010
Quarterly Report for Firefighters Period End 09.30.2010

Retirement Health Savings
General, Police Officers, and Firefighters RHS Period Ending 03.31.2017
General, Police Officers, and Firefighters RHS Period Ending 12.31.2016

60T Disclosure Reports
Report for period ending 09.30.2017

Special Reports

Special Report: Investment Mgr Research Recommendation for General, Police, and Firefighter Dec 2012

Plan Change Reports

Defined Contribution (DC) Plan Review September 30, 2015
Town Manager's Report and Recommendations April 6, 2010
Review of the Town's Retirement Systems October 30, 2009

Summary Annual Report

Period Ending September 30, 2017
Period Ending September 30, 2016
Period Ending September 30, 2015
Period Ending September 30, 2014
Period Ending September 30, 2013
Period Ending September 30, 2012
Period Ending September 30, 2009