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A Retirement Program Designed for All Investors

The Florida League of Cities 401(a) and 457(b) program is designed for both the beginning and advanced investor. The beginning investor appreciates the 'default' Vanguard Target Retirement Funds, that help allocate and diversify without continual monitoring. A beginning-level investor in the program may be unsure where to invest their funds. While they may speak with a representative on-site, by email, or by phone, they may still find the most simple method is to choose the Vanguard Target Retirement Fund closest to their estimated date of retirement. That investor must only provide their date of birth, then relax and let Vanguard handle the tough investment decisions. See more beginning investor information.

The advanced investor appreciates a mostly low-cost Vanguard mutual fund lineup and clearly disclosed expenses. An offering of 26 mutual funds with an average investment expense of 0.21% allow for the advanced investor to diversify their portfolio properly, while paying minimal expenses to do so. The program administrative expenses of $16.00 per year and 0.40% of account balance per year, can offer significant fee savings over many competitor programs. The larger the investor's balance, the greater the fee savings becomes.
See more advanced investor information.

For the Beginning Investor

With more organizations doing away with defined benefit pension plans and implementing 401(a) or 401(k) defined contribution plans, employees throughout the nation are finding themselves in the control seat of their own investments. An employee in a 401(a) or 401(k) plan must understand the consequences of their investment decisions. Account balances should be diversified and allocated properly, and rebalanced regularly. Market conditions change over time, and somehow the employee is responsible for managing these vital investment decisions within their accounts. Should every 401(a) or 401(k) participant be forced to become an expert?

:: On-site service and representative availability by phone and email ::

Relief exists for these investors. A representative will be on-site at your location on a schedule coordinated with your Human Resources department. Representatives are available by phone and email as well. You can rest easy knowing that our representatives are salaried, and not paid more or less depending on your investment choices. Representatives do not sell any other products (life insurance, annuities, etc) to participants. While speaking with you, the goal is to answer your questions and encourage saving for retirement.

:: Help for those concerned with making investment decisions ::

Many beginning investors in our program do not know what investment or investments to choose. They may not understand or be overwhelmed with the idea of making a choice. Those investors could consider picking the date-specific fund that's the closest to their expected retirement year. For example, if you think you are going to retire in 2038, you would consider selecting the Vanguard Target Retirement 2040 Fund.

Target Retirement Funds are broadly diversified funds that gradually and automatically shift to more conservative investments as their target dates approach. You may want to consider investing in just one Target Retirement Fund. A single Traget Retirement Fund can provide diversification and is designed to keep your assets invested appropriately for someone in your state of life, up to and including your retirement years.
See more Target Retirement Fund information.

:: Low fees, regardless of your account balance ::

Whether your account balance is $500 or $500,000, all investors in our program have the same fee structure.

An annual administrative fee of 40 basis points (0.40%) will apply to the assets in your account and will be deducted on a quarterly basis (0.10% per quarter). An annual active participant fee of $16.00 will also apply to your account and will be deducted on a quarterly basis ($4.00 per quarter). When you separate service with your employer, the annual participant fee increases to $50.00 annually and will be deducted on a quarterly basis ($12.50 per quarter). Mutual fund companies charge varying additional investment expenses, please read each mutual fund prospectus carefully.

When you begin receiving distributions from the Plan, there is a one-time $75.00 distribution charge that is taken from your account. Then, any regular recurring distributions payable by direct deposit are free, while regular recurring distributions payable by check are $5.00 each.

Employees must be their own advocate when it comes to keeping retirement investing costs down. Talk to your employer about adding the Florida League of Cities as a 401(a) and/or 457(b) plan provider. Employers can learn more here. Reach out to us at 1 (888) 945-7401 or fmptf@flcities.com to find more about how to talk to your employer.

For the Advanced Investor

The advanced investor can take advantage of our program to keep their employment-related retirement expenses at an incredibly low-cost. The Florida League of Cities 401(a) and 457(b) retirement program is structured so that the participants with the largest balances do not bear all of the burden of covering the costs for participants with smaller balances. By charging two annual fees ($16.00 and 0.40% of account balance), the costs are spread more evenly among participants, rather than just charging a single percentage of assets. Participants also pay investment expenses of the mutual fund(s) in which they invest.

:: Vanguard, a trusted partner ::

The Florida League of Cities has developed a strong partnership with Vanguard over the last 10 years. Vanguard is the largest mutual fund company in the nation, and is well-known for their ability to keep investment expenses low. By pooling the assets of all of our investors together, we are able to qualify for Admiral and Institutional share classes that our investors would not be able to qualify for on their own. The average investment expense of our mutual fund lineup is currently 0.21%.
See our full mutual fund lineup.

:: Clearly disclosed fees ::

✔ No 12b-1 fees
✔ No front-end load fees
✔ No back-end load fees
✔ No plan start-up fees
✔ No plan termination fees
✔ No incoming rollover fees
✔ No market adjustment fees or lock-up periods*

An annual administrative fee of 40 basis points (0.40%) will apply to the assets in your account and will be deducted on a quarterly basis (0.10% per quarter). An annual active participant fee of $16.00 will also apply to your account and will be deducted on a quarterly basis ($4.00 per quarter). When you separate service with your employer, the annual participant fee increases to $50.00 annually and will be deducted on a quarterly basis ($12.50 per quarter). Mutual fund companies charge varying additional investment expenses, please read each mutual fund prospectus carefully.

When you begin receiving distributions from the Plan, there is a one-time $75.00 distribution charge that is taken from your account. Then, any regular recurring distributions payable by direct deposit are free, while regular recurring distributions payable by check are $5.00 each.

* Most funds have '60 day round trip' restrictions. These restrictions are subject to change. Please read each prospectus carefully.

:: A History of Service and Meaningful Oversight ::

The Florida League of Cities (FLC) was formed in 1922 to meet and serve the needs of Florida's municipalities. Administered by the FLC, the Florida Municipal Pension Trust Fund (FMPTF) was established in 1983 for the purpose of collectively mangaging employee retirement programs of participating Florida governments. The FMPTF is a tax-exampt, member-owned trust that provides professional and cost-effective investment and administrative services for all types of governmental retirement plans.

The FMPTF prides itself on three unique levels of oversight within our program. The first level is the Investment Advisory Committee, made up finance directors and past presidents of the Florida Government Finance Officers Association. The leadership and guidance of this committee is invaluable to FMPTF.

The FMPTF employs an independent investment consultant, Asset Consulting Group (ACG), to review all of the funds on a quarterly basis, make recommendations if replacement funds are necessary, and produce an in-depth quarterly report, available to participants here.

The final layer of oversight is provided by the FMPTF Board of Trustees. This five-member Board consists of municipal government officials that participate in the Trust. The Board of Trustees supervises the fund in accordance with the Trust's by-laws, applicable federal and state statutes, and applicable governmental rules and regulations.

Employees must be their own advocate when it comes to keeping retirement investing costs down. Talk to your employer about adding the Florida League of Cities as a 401(a) and/or 457(b) plan provider. Employers can learn more here. Reach out to us at 1 (888) 945-7401 or fmptf@flcities.com to find more about how to talk to your employer.



Participant Links

Employer Links

Contact

    P.O. Box 1757
    Tallahassee, FL 32302-1757

    Toll Free: 1 (800) 342-8112
    Monday through Friday
    9:00 a.m. - 5:00 p.m. EST

    Fax: 850-222-3806

    fmptf@flcities.com