DEFERRED COMPENSATION PROGRAM

Jacksonville Ordinance Code tit. V, ch. 116, pt. 8

in effect

Jacksonville Ordinance Code § 116.801 Definition.

Sec. 116.801. - Definition. For purposes of this Part 8, employee means any person, whether appointed, elected or under contract, providing services for the City for which compensation is paid. (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1)

Jacksonville Ordinance Code § 116.802 Creation of deferred compensation program.

Sec. 116.802. - Creation of deferred compensation program. In accordance with F.S. § 112.215(3), the City hereby creates for itself and its employees a deferred compensation program. The deferred compensation program shall provide for the deferral of all or any portion of an employee's otherwise payable compensation and, pursuant to the terms of the particular plan and in such proportions as may be designated or directed under the plan, provide for the placing of the deferred compensation in savings accounts or for the purchase of fixed or variable life insurance or annuity contracts, securities, evidence of indebtedness or such other investment products as may have been approved for the purposes of carrying out the objectives of the particular plan. The insurance, annuity, savings or investment products shall be underwritten or offered (or both) in compliance with the applicable federal and State laws and regulations by companies which are duly authorized by applicable State and federal authorities. A committee composed of the Director of Finance and Administration, the Treasurer and the Chief of Procurement shall, from time to time, recommend to the Council one or more plans, to be underwritten or offered (or both) by duly authorized companies, which will meet the object and purpose of the deferred compensation program; and the Council shall, by resolution, approve such of the plans so proposed as it deems appropriate and in the best interests of the employees. An approved plan shall become a part of the deferred compensation program until such time as the Council by resolution may disapprove the plan and provide for some other duly authorized company or companies to assume the obligations of the disapproved plan. (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1; Ord. 84-154-132, § 2; Ord. 84-968-502, § 1; Ord. 2016-140-E, § 16)

Jacksonville Ordinance Code § 116.803 Duties of Director of Finance and Administration.

Sec. 116.803. - Duties of Director of Finance and Administration. The Director of Finance and Administration shall administer the deferred compensation program and each plan therein approved by the Council, and may delegate responsibility for such administrative duties as he deems necessary to one or more private firms or one or more duly authorized representatives of each company underwriting or offering (or both) an approved plan, and no compensation shall be paid to those representatives or firms except through the usual assessments, fees, charges or commissions for the sale or administration (or both) of the products used to fund this program. The Director of Finance and Administration is also designated the appropriate official to make determinations as required under F.S. § 112.215(6)(b). The Director of Finance and Administration shall submit to the Council a yearly evaluation of the performance of the plan providers. This evaluation may contain recommendations for dismissal. The Director shall advise the Council when he finds that a plan provider is not meeting the needs of the City's employees. (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1; Ord. 84-154-132, § 3; Ord. 84-968-502, § 2; Ord. 2016-140-E, § 16)

Jacksonville Ordinance Code § 116.804 Deferral of compensation by payroll deductions.

Sec. 116.804. - Deferral of compensation by payroll deductions. In accordance with the deferred compensation program, and upon contract or agreement with an eligible employee, deferrals of compensation shall be accomplished by payroll deductions made by the City, the cost of payroll deductions being borne by the private firm providing the administrative duties deemed necessary under this plan. (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1)

Jacksonville Ordinance Code § 116.805 Deferred compensation plan supplemental to any pension plan.

Sec. 116.805. - Deferred compensation plan supplemental to any pension plan. The deferred compensation program authorized by this Chapter shall exist and serve in addition to any other retirement, pension or benefit systems established by the State or the City and shall not supersede, make inoperative or reduce any benefits provided by the Florida Retirement System or by any other retirement, pension or benefit program established by law. (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1)

Jacksonville Ordinance Code § 116.806 Limitation on liability of City.

Sec. 116.806. - Limitation on liability of City. The financial liability of the City shall be limited in any plan of deferred compensation adopted pursuant to this Chapter to the value of the particular insurance or annuity contract or other investment options purchased on behalf of a participant, all as provided in F.S. § 112.215(9). (Ord. 77-359-124, § 1; Ord. 83-591-400, § 1)

Jacksonville Ordinance Code § 116.807 Existing plan continued.

Sec. 116.807. - Existing plan continued. That certain Master Deferred Compensation Agreement between Jacksonville Public Employees Council No. 97, and City of Jacksonville, Duval County, School Board, JEA, Jacksonville Port Authority, Duval County Hospital Authority and Jacksonville Area Planning Board, previously approved by the Council in Ordinance 77-359-124 and which is the subject of the favorable Revenue Ruling dated February 13, 1976, received by the City from the Internal Revenue Service, all of which is in the custody of the Director of Finance and Administration, is hereby declared to be a plan included within the deferred compensation program created by this Part. The Council hereby declares that the agreement shall be deemed and considered to have been adopted by resolution, as provided in Section 116.802, and may be disapproved by resolution the same as other plans which may, from time to time, be included within the program or disapproved as part of the program. (Ord. 84-154-132, § 4; Ord. 84-968-502, § 3; Ord. 2016-140-E, § 16)

Source: City of Jacksonville, Ordinance Code and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/fl/jacksonville/codes/code_of_ordinances?nodeId=TITVADPE_CH116EMEMBE_PT8DECOPRFetched: 10/27/2026