Welcome

This workshop is designed to provide essential information about the Florida Retirement System (FRS) Pension Plan and the FRS DROP Program. Employees will learn more about their retirement benefits and how to make the most of them. We will discuss how the pension is calculated, the benefit payment options at retirement, and the Deferred Retirement Option Program (DROP).

The FRS Investment Plan is now the default option for new employees. Plan membership in the State has grown to one out of every three employees. Given the lack of guarantees in this plan for employees, it is increasingly more important to understand the pros and cons. Additionally, employees have total control of the assets in their plan, and need to understand basic investment strategy on how to make the most of their accounts. This session will help provide the needed education to do so.

Discuss the difference between these supplemental retirement savings plans, and which one may be best for you. While these plans are all offered via payroll deduction, they are very different in how they are taxed, both for money invested and withdrawn, and they differ on when employees can freely access their funds. This workshop will help employees understand the differences, and ensure they are saving in the most appropriate plan for their individual needs.

Join us to learn more about the basics of investing. We will discuss how to set realistic financial goals and practical ways to accomplish them. We will answer questions such as what are stocks, bonds, mutual funds, and how can they help you invest and save more? For retirement planning, what are the different savings plans available, and which one may be best for you? How should your time horizon and risk tolerance play a role in deciding which investment is best for your individual needs?