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Florida Retirement System (FRS)

The Florida Retirement System (FRS) is the retirement program for our district. As a new, eligible employee, you must choose one of the two FRS plans. Each plan offers important benefits. All you need to do is to select the plan that is best for you. You have five months to make your plan choice. FRS will mail you a personal enrollment kit approximately three months after your date of hire. Make your plan choice by following the directions included in your kit.

The FRS Pension Plan is a traditional retirement plan designed for longer service employees. It pays you a guaranteed monthly benefit based on service and salary when you retire. If you enrolled in the FRS prior to July 1, 2011, you are vested in the Pension Plan after 6 years of service.  If you initially enrolled after July 1, 2011, you will need to work 8 years to be vested in the Pension Plan.

The FRS Investment Plan was designed for a more mobile workforce. Your benefit is based on how much money is contributed to your account and how well that invested money grows over time. You qualify for a benefit after 1 year of service.


Types of Retirement

Normal Retirement, Early Retirement, Disability Retirement, and Deferred Optional Retirement Program (DROP).

Normal Retirement: Regular Class members that initially enrolled prior to July 1, 2011 must be vested with 6 years of service and reach 62 years of age or must have 30 years of service.  Any members that initially enrolled after July 1, 2011 must be vested with 8 years of service and have reached 65 years of age or must have 33 years of service to retire without a penalty.

Early Retirement:  Your pension benefit will be reduced by 5% per year under the age of normal retirement, unless you fulfill the service requirement for normal retirement. Early retirement benefits are reduced based on age requirements not service requirements.

Disability Retirement: A member who becomes totally and permanently disabled, as defined in the paragraph below, after completing 8 years of creditable service or a member who has become totally and permanently disabled in the line of duty regardless of service. Members may apply for Regular Disability or In-Line-Of-Duty Disability. Total and permanent disability – a member shall be considered totally and permanently disabled if, in the opinion of the FRS Administrator, he/she is prevented, by reason of a medically determinable physical or mental impairment, from rendering useful and efficient service as an officer or employee.

DROP: The Deferred Retirement Optional Program allows you to retire, continue your employment and have your monthly retirement benefit remain in the Florida Retirement System (FRS) Trust Fund instead of being paid directly to you. Your tax deferred benefits will earn interest, compounded monthly at an annual rate 1.3%, as long as you participate in DROP. Upon termination of employment, the participant will receive payment of the accumulated Drop benefits and begin to receive your normal monthly retirement benefits. Vested members are eligible to enter DROP once they reach normal retirement conditions. Eligible members may participate for a period not to exceed 60 calendar months. (Participation in DROP does not guarantee employment for the specified period of DROP). While you participate in DROP your monthly retirement benefit will be increased by a flexible cost-of-living adjustment each July 1 (or a prorated amount if the member retires within the year). The enrollment period for all members other than classroom teachers is within 12 months after you FIRST reach your normal retirement date. Instructional Personnel, who reach their normal retirement date, may defer entering Drop and elect to enroll at any time.

Saving for Retirement

The School Board offers 403(b) and 457 deferred compensation plans to help you save for your retirement. You can arrange to have a set amount deducted from each paycheck and invested with the company of your choice. The money grows tax-deferred – that means, you don’t pay taxes on the amounts you invest, or any interest earnings, until you take the funds out of the account. To enroll in a 403(b) or 457 Plan:

  • Choose from any of the Approved Providers listed below.
  • Contact the company to set up an account.
  • Complete a Salary Reduction Agreement showing how much money you want deducted from each paycheck. Send the completed form to Payroll.

Tax Sheltered Annuity List

Retirement Estimates

Formula: AFC x Value Per Year x Years of Service divided by 12 = monthly pension To determine your AFC: Average the salary of your 5 highest years. To determine the Value Per Year:

FRS Value Per Year Age/Years of Service
1.60% 62 or 30 years
1.63% 63 or 31 years
1.65% 64 or 32 years
1.68% 65 or 33 years
Benefit Shown is Annual Pension Benefit
AFC 6 10 15 20 25 30
$15,000 $1440 $2400 $3600 $4800 $6000 $7200
$20,000 $1920 $3200 $4800 $6400 $8000 $9600
$25,000 $2400 $4000 $6000 $8000 $10,000 $12,000
$30,000 $2880 $4800 $7200 $9600 $12,000 $14,000
$35,000 $3360 $5600 $8400 $11,200 $14,000 $16,800

6 Years of service = approximately 10% of AFC 10 Years of service = approximately 16% of AFC 15 Years of service = approximately 25% of AFC 20 Years of service = approximately 32% of AFC 25 Years of service = approximately 40% of AFC 30 Years of service = approximately 48% of AFC

How to Apply for Retirement

Call the Human Resources Retirement Department at 772-429-7500 and make an appointment or request a retirement packet. Please indicate the type of application you are requesting: Disability, Drop, or normal Retirement. You will need to return a copy of your birth certificate with your retirement application. The birth certificate does not have to be an original or certified copy. If the birth certificate is not available at application, it can be sent to FRS at a later date. Retirement applications can be submitted 6 months prior to the retirement, termination or DROP entry date. FRS requests that you submit your application for service retirement no later than 3 months prior to your termination date so they will have sufficient time to add you to the FRS payroll. If you retired on the first day of a month, you would receive your first pension check at the end of that month if all of the required documentation had been received on time for your application to be approved and processed for that month’s payroll. FRS processes payroll on the 25th of each month. Checks would be mailed and received the first week of the next month or no later than the 5th day of the next month.


Retirement Seminar