• Frs Retirement Codes
• Frs Retirement Calculation Chart
• Frs Loan From Retirement
• Florida Division Of Retirement Frs Online

Types of Retirement – Learn about the age, service requirements and considerations affecting the various types of retirement. Deferred – If you are a former Federal employee who was covered by the Federal Employees Retirement System (FERS), you may be eligible for a deferred annuity at age 62 or the Minimum Retirement Age (MRA). The FRS website www.MyFRS.com or calling toll free the MyFRS Financial Guidance Line at 1-866-446-9377. Q: What is the normal retirement age? A: Normal Retirement under the Florida Retirement System (FRS) Pension Plan is the time members are first eligible to receive an unreduced retirement benefit based on age or years of service.

The Deferred Retirement Option Program (DROP) provides you with an alternative method for payment of your retirement benefits for a specified and limited period if you are an eligible Florida Retirement System (FRS) Pension Plan member. Under this program, you stop earning service credit toward a future benefit and your retirement benefit is calculated at the time your DROP participation begins. While you are in the DROP, your monthly retirement benefits accumulate in the FRS Trust Fund earning interest while you continue to work for an FRS employer. Upon termination, your DROP account is paid to you as a lump sum payment, a rollover or a combination partial lump sum payment and rollover. Monthly benefits are paid to you in the amount as calculated upon entry into DROP, plus any applicable cost-of-living adjustments for intervening years. For more information, see the latest version of the DROP guide().

The DROP Forms page provides access to forms available to DROP participants.

The FRS Quick Clips page allows you to view short videos about DROP Retirement, Benefit Payment Options, and the DROP Termination Process.

The Florida Retirement System is defined benefit plan that is provided to all employees. You can expect to receive mail box money once you retire for the rest of your life. The FRS Pension is based on a formula that determines how much money will get for the rest of your life. First, let's distinguish. Taking a loan is different from making a withdrawal from a retirement account. Both reduce the assets in your portfolio, of course.If your account.

The following documents provide additional information about DROP:

• Preparing to Terminate DROP() - Document that explains what to expect when you terminate DROP (the forms to submit, when you will begin receiving monthly benefits, etc.).
• DROP Special Tax Notice() - Document that provides information for DROP participants including eligible rollover plans, payment options, tax effects and more.
• DROP Rollover Flyer() - Document that provides information about your ability to roll over your DROP lump sum into the FRS Investment Plan.
• Keep your DROP in the FRS() - Document that explains how you can roll over your DROP lump sum into the FRS Investment Plan.

The DROP Participation Chart page allows you to determine your maximum DROP termination date, based on your DROP begin date.

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The following retirement options are offered to employees of Hillsborough County:

Florida Retirement System (FRS)

Frs Retirement Codes

All Hillsborough County employees are part of the Florida Retirement System. The plan has two options in which employees contribute 3 percent of their pay, and the County contributes a percentage.

The plan choices are:

Frs Retirement Calculation Chart

• Pension Plan
  • New employees become vested after 8 years.
  • Employees who joined the FRS prior to July 1, 2011 are vested after 6 years.
  • The plan pays a set lifetime monthly benefit.
    
• Investment Plan
  • Employees are vested after 1 year.
  • Plan is designed for a mobile workforce, with all contributions going into a portable individual account that the employee manages.

Deferred Compensation Plan

Frs Loan From Retirement

Florida Division Of Retirement Frs Online

In addition to the FRS, you can participate in our deferred compensation retirement plans. When you enroll in one of the tax-deferred plans, you will set the amount to deduct from each paycheck, and we will contribute 1 percent of your salary into the plan of your choice. Unlike the FRS, this retirement benefit is not automatic, so you must enroll to receive it.
For more information, contact Human Resources at (813) 272-5130.