Plan members contribute ten (10%) percent of compensation to the GESE Trust.
The City contributes the actuarially determined amount necessary to fund the normal cost plus the amortization of the unfunded accrued liability and non-investment expenses of the GESE Trust.
Payback is a member’s contribution to the GESE Trust for creditable service for which no regular contributions have been made. Contributions required for paybacks shall not be picked up by the City, but may be deducted from a member’s contribution.
Loans to participants are prohibited per Ordinance Sec 40-258.
Withdrawal of contributions is allowed under retirement, resignation, termination, or layoff.