Certain eligible beneficiaries may be entitled to …

[Pages:2]Non-line-of-duty: If you die before termination from employment due to a non-work-related incident, certain eligible beneficiaries may be entitled to receive one of the following:

If you were a member with less than 1 year of credited service, a one-time, lump-sum payment equal to your accumulated contributions with interest; or

If you were a member with 1 or more years of credited service, a one-time, lump-sum payment equal to 50% of your current regular compensation plus your accumulated contributions with interest; or

If you were a member with at least 2 years of credited service, 25% or more of your current regular compensation, not to exceed 50% of your current regular compensation as of your date of death; or

If you were eligible for service retirement on your date of death, the 100% survivorship retirement option.

Deferred Retirement Option Plan 2 (DROP 2)

Once you are eligible to retire with 25 or more years of credited service as a contributing F&P member you may elect to continue to work and participate in the Deferred Retirement Option Plan 2 (DROP 2). During your DROP 2 participation, you will defer commencement of your retirement benefit and accumulate retirement benefits in a DROP 2 account, which earns interest at 3%. When your DROP 2 participation ends, you may continue employment or retire. When you retire, you will begin receiving your monthly retirement allowance plus the accumulated balance in your DROP 2 account.



If You Leave Employment Before Retirement

If you terminate employment before attaining retirement eligibility, you may receive a one-time, lump-sum refund of your accumulated contributions with interest, upon completion of a Withdrawal Election form. You may elect to have the refund paid directly to you or as a rollover to a financial institution or qualified plan. If you do not elect to rollover your distribution, special tax rules may apply.

Keep Your Information Current

To change your address on file with F&P, you should notify your department of the change. If you are unsure what mailing address your department has on file for you, look at the address displayed on your pay check or direct deposit Earnings Statement. If that does not reflect your current address, please take immediate action to update your address with your department.

It is extremely important that you notify F&P of any life events such as marriage, the birth of a child, or the death of a beneficiary. Beneficiary designation forms are available on the F&P's website.

Resources

Visit the F&P's website at for newsletters, the F&P Summary of Benefits handbook, retirement benefit estimators, printable forms and updates on the system's financial performance.

To visit the office or write a letter the address is:

Fire and Police Employees' Retirement System 7 East Redwood Street, 18th Floor Baltimore, MD 21202

Email inquiries to: ContactBCFP@

To speak with a Retirement Benefits Analyst: 410-497-7929 or 1-888-410-1600

Fax Number: 1-888-443-7008



Welcome to the Fire and Police

Employees' Retirement

System

Fire and Police Employees' Retirement System

7 East Redwood Street, 18th Floor Baltimore, MD 21202 410-497-7929 1-888-410-1600

Welcome!

The Fire and Police Employees' Retirement System of the City of Baltimore (F&P) was established on July 1, 1962 as a defined benefit pension plan covering all uniformed employees of the Baltimore City Fire and Police Departments. F&P does not cover civilian employees of those departments, nor any other Baltimore City employees or elected officials.

This pamphlet is an overview of the retirement benefits for persons becoming members of the F&P on and after July 1, 2010. Please refer to the F&P's Summary of Benefits booklet on our website at for more details.

The F&P maintains a staff of Retirement Benefits Analysts to answer questions from members and retirees.

Membership

Membership in the F&P is mandatory and begins on the first day of employment as a sworn uniformed employee.

Enrollment

You will meet with a Retirement Benefits Analyst who will assist you with the enrollment process. You will be asked to provide valid proof of birth, marriage license, designation of beneficiary, and military documentation, if applicable.

Mandatory Membership Contributions

Members contribute at the rate of 10%. Membership contributions are based on regular biweekly compensation (excluding overtime or other similar pay). Membership contributions are made pre-tax and earn 3% interest. If a membership contribution is not deducted from your pay, please contact F&P.

Service Credit

You earn F&P service credit as you make mandatory membership contributions. If you make no mandatory contribution because you are not paid, you do not earn service credit.

You may transfer and purchase service that you earned in a defined benefit federal, state or local government retirement system.

Transfers and purchases are allowed as long as: 1) you have no more than 90 days break in service between membership in your former system and your F&P entry date; 2) you file an application with the F&P within 1 year of your F&P entry date; 3) your former system provides verification to F&P of your transferrable service; and 4) you would not be eligible to receive a present or future benefit from your former system for the service transferred. You are limited to the following years of transferred and purchased service:

10 years of uniformed service; or 5 years of civilian service

You may also purchase Baltimore City employment time that was not previously credited as service under a Baltimore City retirement system.

You may receive up to 3 years of service credit for military service served preceding your employment with the City of Baltimore when you attain age 50 with 10 years of credited service or acquire 20 years of credited service regardless of your age.

Normal Service Retirement Eligibility

You are eligible for normal service retirement when you:

Have 25 or more years of credited service with at least 15 years as a contributing F&P member; or

Have attained age 55 and have 15 or more years of credited service as a contributing F&P member

Early Service Retirement Eligibility

You are eligible for early service retirement when you:

Have 20 or more years of credited service with at least 10 years as a contributing F&P member; or

Have attained age 50 and have 10 or more years of credited service as a contributing F&P member

Disability Retirement

If you are permanently disabled as determined by an independent hearing examiner you may be eligible for a lifetime monthly benefit.

Two Types of Disability Retirement Benefits

Line-of-duty: Any permanent disabling condition sustained while performing your job duties without willful negligence - eligible when you become an F&P member.

Non-line-of-duty: Any permanently disabling condition that is not job related - eligible after you have 5 years of credited service.

If you apply for line-of-duty disability benefits, you must file your application within 5 years of the date of your disabling injury.

Death Benefits

Death benefits are paid to certain eligible survivors or designated beneficiaries should you die before termination from employment. The type and amount of death benefits that are paid will depend on the circumstances of your death (line-of-duty or non-line-of-duty).

Two Types of Death Benefits

Line-of-duty: If you are determined by an independent hearing examiner to have died while in the line-of-duty due to a work related incident without willful negligence, a death benefit equal to 100% of your current regular compensation will be paid to:

your spouse for life; or (if you have no spouse)

your minor children in equal shares until attaining age 22; or (if no spouse or minor children)

your dependent parents

regardless of whom you name as your designated beneficiary.

Rev. 2-20





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