Benefits & Compensation

Employee Benefits

All regular full time employees of the City of Palm Bay are eligible to participate in the following benefit programs offered by the City of Palm Bay:

Health Insurance: Health care plans include a POS and HMO through Health First Health Plans. The employee’s health insurance is at no cost or minimal cost and the City supplements a portion of cost for family coverage.

Dental Insurance: Dental coverage is offered in three plans that include a prepaid, indemnity & PPO plan. Orthodontic coverage is included in two of the three plans.

Vision Insurance: Vision coverage includes an annual eye exam, frames and lenses or contact lenses in lieu of eyeglasses

Life Insurance: The City of Palm Bay provides each employee with life insurance in the amount of their annual base salary at no cost. Additional coverage is available at the employee’s cost up to 5 times their annual base salary not to exceed $200,000.

Dependent Life Insurance: The City of Palm Bay provides each employee with dependent life insurance in the amount of $5,000 per dependent at no cost. An additional $5,000 dependent life coverage is available at the employee’s cost.

Short Term Disability: Coverage pays 66 2/3% of employee’s annual base salary during a short-term disability period not to exceed 26 weeks.

Long Term Disability: The City of Palm Bay provides this coverage at no cost to the employee.

Defined Contribution Retirement Plan: Employees elect to contribute up to 6% and the City currently contributes 3% base as well as a match to the employee contribution.

Executive Defined Contribution Retirement Plan: Employees and the City contribute 9.75%.

Fire & Police Pension: Sworn police officers and certified firefighters participate in a defined benefit pension plan.

Investment Options: An IRS 457 Deferred Contribution Plan, and ROTH IRA are additional investment tools offered at the City of Palm Bay.

 

Other Work Life Benefits:

Along with above elective benefits, City employees are also entitled to other benefits:

Paid Holidays: 10 holidays, 1 floating holiday (General employees only) and 1 birthday holiday.

Paid Leave Accruals: 96 vacation leave hours and 96 sick leave hours per year. Increased hours accrue after 5 years of service.

Bereavement Leave: 10 days granted in the event of the death of an employee's spouse or child; in the event of the death of an employee's immediate family member, 5 days will be granted if the funeral is out of state and 3 days will be granted if the funeral is in state.

Employee Assistance Program: Employees are eligible for six (6) free visits per family member per issue, per year through our Employee Assistance Program provider.

 

Retirement

The city of Palm Bay maintains two retirement plans for its employees. Participation in either plan is mandatory and requires a contribution from both the employee and the City of Palm Bay.

The palm Bay Police and Firefighters Pension Fund is a defined benefit plan and mandatory for all sworn Police Officers and Firefighters. The defined benefit plan benefit detail can be found in the Summary Plan Descriptions located on the following link on the Palm Bay Police and Firefighters Pension Fund site, www.pbpfpf.org.