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December 12, 2012
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Florida State Retirement System

Florida State Retirement

The Florida Retirement System (FRS) is the fourth largest public system in the country. The FRS was established in 1970 as a consolidated statewide retirement system for Florida's public employees. At the same time, the four existing retirement systems for teachers, state and county officers and employees, highway patrol officers, and justices and judges were closed to new members. Fewer than 1,000 members remain in these closed systems today.

Today, the FRS is the primary pension plan for the employees of Florida's state and county government agencies, district school boards, and community colleges and universities, as well as for the employees of the more than 100 cities and 400 special districts in Florida that have elected to participate in the system. The FRS currently offers a defined benefit pension plan that provides retirement, disability, and death benefits to nearly 220,000 retirees, surviving beneficiaries, and DROP participants. The FRS also offers a wide range of information and administrative services for about 600,000 active members. Finally, the FRS offers optional defined contribution plans through programs available to eligible employees. For plan details, you may wish to review a summary plan description.

MyFRS Financial Guidance Line

The MyFRS Financial Guidance Line (1-866-44-MyFRS [1-866-446-9377]), is a toll-free number that offers personalized assistance choosing your own investment portfolio. You can talk one-on-one by phone with an experienced, objective, credentialed financial planner from Ernst & Young who can:

  • Help you through the FRS retirement plan choice process.
  • Answer questions about the plans, retirement plan choices and the choice process.
  • Answer questions about using online choice-making, retirement planning and investment education resources, and guide you through the use of these resources.
  • Run the online choice-making resources for you if you don't feel comfortable using them.
  • Discuss important retirement planning and investing concepts.
  • Explain how the online resources can help you decide how to manage all of your personal retirement investments, including IRA, 457, and 403(b) plan investments, regardless of which FRS retirement plan you are thinking about selecting.
  • Help you develop a personalized financial plan.

 



More Info On FRS can be obtained at the official FRS site below.
Florida Retirement System Official Site
175 Pensions (Lantana,Lake Worth, Delray, Riviera, Palm Beach, NP Beach,Tequesta, PB Gardens)
Information on 175 pensions can be obtained here.




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