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.
- You may email the form to benefits@ufl.edu instead, but omit your Social Security number if you do.
- Complete an FRS Online Enrollment Form (ELE-1 Online). This form does not require a pin or account login.
- Nonexempt/hourly employees:
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
- 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.