The General Employees' Retirement System is governed by these governing statutes/ordinances:
Code of Ordinances for the City of Naples, Florida, Chapter 29, Article III
Chapter 112, Florida Statutes
Internal Revenue Code
The General Employee Retirement System covers all city employees except:
• Those in Police or Fire or other pensions
• Contractual employees
• Part-time, temporary and seasonal workers
• The mayor or members of the city council
For employees in the General Retirement plan, normal retirement can occur when either of these milestones are met:
Employees hired prior to October 1, 2011
- Age 60 with five years of credited service, or
- Total age plus service equals 85 years
Employees hired on or after October 1, 2011
- Age 62 with eight years of credited service, or
- 30 years of credited service
Employees who reach normal retirement are eligible to get a monthly retirement benefit with a multiplier of 2.0 percent of the pensionable Final Average Compensation for every year of creditable service.
There is an early retirement option for employees (qualifications are dependent upon an employee's hire date), but the benefit is reduced for the periods that precede the normal retirement date.
Employees' contributions are 5 percent of pensionable compensation to the plan.
The pension plan is managed by a board of trustees, who serve a four-year term. They establish the investment policies of the plan, determine the plan administrators, and select counsel and other professionals who serve.
• The General Employees' Retirement System Actuarial Valuation Report as of October 1, 2024 can be accessed
below.
• The actuarial disclosures for the General Employees' Retirement System required under Section 112.664(1),
Florida Statutes, and Rule 60T-1.0035, Florida Administrative Code can be accessed below.
• The Department of Management Services' Division of Retirement monitors Florida’s local government pension
plans for actuarially sound funding under Part VII of Chapter 112, Florida Statutes. An actuarial summary fact
sheet is available for each local government pension plan. The General Employees' Retirement System actuarial
fact sheet can be accessed below.
General Employees' Administrative Expense Budget for FY 2026 can be accessed below.