Our Pension
Your Pension Trustees
The Jacksonville Transit Management Corp. (JTM) oversees the Amalgamated Pension/Disability plan for your Union (Amalgamated Transit Union Local No. 1197). The JTM committee is responsible for all the management and investment decisions of the JTA pension plans. The voting members consist of 3 JTA employees elected by the Pension Committee and 3 employees elected by the President of the Union.
Plan Funding & Investments
The investment of the pension fund is channeled through three types of managers, each with a specific assigned task, which assures proper handling of the pension fund. The Pension Board Trustees develop investment policies for the managers to adhere to and set risk tolerance measures to protect and grow the plan assets.
Your Retirement Options
Determining your benefit and options all depends on your vesting status in the pension plan, your years of service with the company, and your age.
Our Union’s Mission statement:
We fight for the interests of our hard-working members and promote healthy and safe environments for our members. The health of our pension plan is of the utmost importance to our Committee Members. We strive to maintain healthy funding levels of our pension plan while increasing member benefits to meet replacement income industry averages.