How much do I contribute to the Fund? How much does the city contribute?
Employee Contribution Rate for 2023
* Tier I General employees pay an additional 0.7% on blue service for the length of their blue service
City Contribution Rate for 2023
You may log on to the Member Portal to find your contribution balance or contact the Retirement Fund at 817-632-8900 to obtain your balance.
What is the balance of my retirement contributions?
You may log on to the Member Portal to find your balance or contact the Retirement Fund at 817-632-8900 to obtain your balance.
Can I contribute more or less to retirement?
No, the retirement contribution rate is set by the City of Fort Worth Mayor and City Council and is a condition of employment.
What happens to my future retirement should I die as a terminated vested member?
Your qualified surviving spouse is entitled to receive 75% of your pension benefit payable for life. Additionally, your qualified dependent children will each receive a monthly gross pension benefit of $100 so long as they remain qualified. If not married to a qualified spouse, then your qualified dependent(s) is entitled to receive 75% of your pension benefit. However, in lieu of a monthly pension annuity, your qualified survivor(s) may request a refund of your total employee contributions plus interest. If you are not survived by a qualified spouse or qualified dependent(s), then your refund beneficiary or estate (whichever is applicable) is entitled to receive a refund of your total employee contributions plus interest.
If I join DROP, do I still get paid my regular paycheck?
Yes. The DROP (Deferred Retirement Option Program) is a deferral of retirement; therefore, you will continue to get paid your regular salary from the city while accruing a DROP lump-sum account with the Retirement Fund.
How long do I have to stay in DROP?
You can stay in the DROP a minimum of one month and a maximum of six (6) years or 72 months.
How do I find my DROP balance?
You may log on to the Member Portal and look up your DROP balance.
If you are an active member, your DROP balance is included on your annual benefit statement. You may also call the Retirement Fund at 817-632-8900 to request the balance of your account.
If I have service in a previous public position, can I get credit for this service in my Fort Worth plan? Can I transfer my Fort Worth service to another city/government plan?
Credit is not automatic. The prior service simply qualifies you for purchasing an equal amount of service. You can purchase qualified service if you have:
- worked as an employee of the government of the United States, any state or political subdivision thereof, or any agency instrumentality of any of the foregoing
- service as an employee of an education organization which is a public, private, or sectarian school which provides elementary or secondary education (through grade 12),
- service as an employee of an association of employees who are described in clause (i) above, or
- military service (other than qualified military service) recognized by such governmental plan then you are eligible to purchase the equivalent time provided that you are not going to receive a retirement benefit from them.
- You must provide verification of service from the entity
- You may purchase the full number of years worked (e.g., if you’ve worked 10 years, you can purchase 10 additional years)
With regards to transferring service from Fort Worth to another plan, it will be up to the other plan as to what they are willing to accept or not.
Who can purchase additional service credit?
A member can purchase additional service credit (ASC) at the time of separation. ASC purchase must be done before you separate/terminate but after you are certain you will terminate employment.
Some general points to remember about service purchases:
- You must have earnings from the city for the then current year to purchase service
- You must not be enrolled in the DROP
- Minimum purchase is one month
- Payment for a service purchase must be made all at one time.
Points specific to purchase ASC:
- You must be vested in the retirement plan
- You must provide proof of separation in writing from city Human Resources Department or supervisor
- Your retirement date will NOT change
- As a terminated vested member, the amount paid is based on the fact that you will no longer be receiving a salary or any other compensation from the city. If you become reemployed by the city it will change the basis for the cost of the purchase and probably reduce the credited service since you will be receiving compensation again from the city.
E-Notify