City of Jacksonville


Partial Lump Sum (PLOP) and BACKDROP Options

The General Employees Pension Plan offers the Partial Lump-sum Option Payment (PLOP) or the BACKDROP Option for eligible members.


Partial Lump Sum Option (PLOP) - With this option, a retiree may choose to receive 5 percent, 10 percent or 15 percent of the actuarial equivalent value of their monthly benefit as a lump sum payment, with the remaining annuity benefits paid in the standard form.  For example, if a retiree elects to receive a 15 percent partial lump sum, 15 percent of the actuarial equivalent value would be paid as a one-time lump sum payment, and 85 percent of the full annuity would be paid via a bi-weekly payment.


BACKDROP Option - This is chosen at the time of retirement.  In order to utilize this option, the retiree must have at least 30 years of service, and may 'drop back' to a date when they had 30 years or more of service in the Plan.  Monthly retirement benefits are determined as of the start of the backdrop period but are not paid until retirement.  Monthly benefits are credited each month from the start of the backdrop period until actual retirement.  Interest is credited to the backdrop benefit based on the Plan rate of return with a maximum of four percent annually and a minimum of negative four percent annually.  The maximum backdrop period is 60 months.  Backdrop benefits are payable at the time of retirement.

These options may not be combined.  Both options are IRREVOCABLE.  Your benefit can NOT be changed after one of these options is elected.   If you have any questions concerning these benefits, please call the Retirement System Pension Office at 255-7280, or e-mail