Florida Retirement System Pension Plan

Pension Plan Overview

This defined-benefit plan pays a guaranteed lifetime monthly benefit based on years of service and highest salary while working for an FRS-covered employer. Vested Pension Plan participants who reach their normal retirement age or full years of service may take advantage of the Deferred Retirement Option Program (DROP).

Eligibility

• TEAMS
• Law Enforcement
• Faculty (Exception: College of Medicine and Health Science Center Faculty participate in the SUSORP)

Enrollment for New Employees

• Exempt/salaried employees:
  • Opt out of the SUSORP by faxing an ORP Enroll Form to UFHR Benefits at (352) 392-5166.
  • Complete an FRS Online Enrollment Form (ELE-1 Online). This form does not require a pin or account login.

• Nonexempt/hourly employees:
  • Complete an FRS Online Enrollment Form (ELE-1 Online). This form does not require a pin or account login.

Contribution Rates

• Employer: 8.47% for Regular Class; 25.48% for Special Risk Class
• Mandatory Employee: 3.00% of biweekly earnings
• Voluntary Employee contributions are not permitted to this plan

Resources

• FRS Publications
  • State Retirement Plan Comparison Brochure
  • Summary Pension Plan Description
  • Pension Plan Member Handbook
  • Pension Plan FAQ
  • Disability Benefits
  • Survivor Benefits

• Online Account Management (benefit calculator, service history, etc.)

• Contacts
  • Free FRS Financial Advisors: (866) 446-9377
  • Division of Retirement (DOR): (844) 377-1888

Loans/Hardship Withdrawals

Loans and hardship withdrawals are not permitted.

Update My Beneficiary

Complete the FRS Pension Plan Beneficiary Designation Form and fax it to FRS at (850) 410-2010.

Ready to Retire?

Visit our Ready to Retire page for more information.