A receiver converts an analog signal, derived from light pulses in a GPON fiber optic system, to clean digital electrical signals. A photodetector and transimpedance amplifier (TIA) convert the light pulses to analog electrical signals. A reset signal generated by a media access controller (MAC) in the GPON system signifies the start of a new burst of data. The receiver has a switchable low pass filter that establishes the threshold voltage for determining whether the analog signal is a logical 1 or a logical 0. At the very start of a new burst, the low pass filter has a fast time constant to quickly establish the threshold voltage for the burst. At a later time during the burst, the low pass filter is switched to have a slow time constant to create a relatively stable threshold voltage.