Members of the Florida Retirement Services can access information specific to their personal retirement accounts, such as service history and service credit information, salary data, and beneficiary information. Members can also calculate personal benefit estimates based on various retirement ages. FRS recently has provided toll free numbers to help its members. The calculations department will be happy to assist you at 1.888.738.2252.
The FRS offers its members two types of retirement plans: the Pension and the Investment plans. The Pension is a defined amount of retirement benefit and the Investment plan is your individual placement of your funds to a retirement account designed just for you and your needs. To select the best plan for your individual wants you should find out which plan will give you the most benefit at the time you wish to retire. Attend retirement workshops that the district provides to help make these important decisions. FRS also provides FREE unbiased financial assistance via Ernst & Young Financial Planners. You may review options and get advice on the Pension and Investment Plans by calling 1.888.429.2160 or by going online:
Ernst & Young Financial Planners
www.myFRS.com
If you are approaching retirement eligibility, you may call Debra Shepard or Antoinette Deaver and schedule an appointment to go over the type of retirement plan you are enrolled in and begin to prepare the necessary application paperwork. Please contact us six months prior to your anticipated termination date and we can assist you in obtaining an estimate of benefits for you from FRS to help you determine the best option for receiving your benefits.
You are eligible to receive future benefits under the FRS Pension Plan after you become vested. Vesting requires six years of creditable service for members who were actively employed on, or first enrolled after, July 1st, 2001. For the FRS Investment Plan, if you have completed one year of service with an FRS employer, you are vested (or you “own”) all contributions and earnings on those contributions. Under the Investment Plan there is no normal retirement age. When your employment with all FRS employers ends, you can take the value of your account with you, regardless of age.
If you are close to thirty years of service with FRS agency(s) or are 62 years of age, you should be preparing for service retirement benefits under the Pension Plan or the D.R.O.P. (Deferred Retirement Option Program). You will need your birth record (state issued certificate) and beneficiary information.
For more information contact
Debra Shepard
Personnel Specialist
386 329-0547
info@putnamschools.org
