Ready to Retire?

During the six-month window prior to retirement date:

• View the FRS Video (recommended).
• To create an estimate for your pension benefit, log in at FRS Online or contact the Division of Retirement at 1-844-377-1888.
• We recommend that all employees schedule an appointment with the UF Benefits team three to six months before retirement to ensure a smooth transition.
• Submit your retirement letter to your department and to UF Benefits (one month minimum, at least three recommended).
• Submit your Application for Service Retirement.
  • Option 1: Log in to FRS Online and complete the application, no notarization required.
    • This process should take about half an hour. It walks you through every step needed for your retirement processing, including direct deposit setup with Division of Retirement, beneficiary designation, and your Health Insurance Subsidy application.
  • Option 2: Schedule an appointment with a Benefits team member to complete a paper application if desired. We are all notaries. Hard copies of verification documents will be required, and you must set up direct deposit with Division of Retirement and apply for your Health Insurance Subsidy separately.
    • Required documents:
    • • Service Retirement Packet
      • Birth verification document
      • If you have a spouse and choose a survivor benefit for your pension (Option 3 or 4):
        • Joint Annuitant’s birthdate verification document
        • Marriage certificate
      • If you have a spouse and do NOT choose a survivor benefit (Option 1 or 2):
        • Spouse must sign form SA-1 acknowledging this choice. This requires notarization.

Three months before retirement date (Medicare age, 65+):

• Request your verification of employer group insurance for your Medicare Part B application from the Benefits team by emailing benefits@ufl.edu (form CMS-L564).
• Apply for Medicare by contacting Social Security or enrolling directly at medicare.gov.
  • Free Medicare advising is available through the SHINE nonprofit at 1-800-963-5337.
  • Medicare Part B must be your primary medical coverage once your employee coverage ends.
• You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • Please review this guide to state retiree health plan options and the enrollment process to determine whether a state Medicare supplement or a private one will be the best choice for you.
  • If you want to enroll in one of the Humana Medicare supplement plans, you will need to upload your Medicare card to People First no later than the 20th of the month before your plan will begin.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you begin receiving your pension. You must submit a completed HIS application directly to Division of Retirement to receive this benefit.
  • If you submit your service retirement application online, the HIS application is initiated by that process.

Three months before retirement (under age 65):

• You are not yet eligible for Medicare, but you may be eligible to participate in state early retiree health coverage.
  • You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • If you want access to the state Medicare supplements later in life, you must stay enrolled in a state health plan until you reach age 65. Once you enroll in Medicare Part B, you will be eligible to change your early retiree coverage to one of the Medicare supplement plans.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you begin receiving your pension. You must submit a completed HIS application directly to Division of Retirement to receive this benefit.
  • If you submit your service retirement application online, the HIS application is initiated by that process.

After retirement date:

• Confirm that you are correctly receiving your pension benefit and your health insurance subsidy. You should begin receiving these at the end of the month following your retirement date. 
• Confirm that your retiree health coverage has started (including Medicare Part B if applicable) and that you have the cards and information you need to use your benefits.
• Enjoy your retirement!

If you choose to exit DROP early:

• There is no penalty for exiting DROP early.
• Submit your retirement notice to your department and UF Benefits as soon as possible so our team can update DOR with your new exit date.
• DOR will then mail you an information packet and required forms.
  • Submit DP-Term form to UF Benefits at benefits@ufl.edu.
  • Return DP-PAYT to DOR to specify how you want to receive your DROP trust fund benefit.
    • Recommended: Speak with a tax specialist or certified financial advisor prior to making this decision to ensure that you minimize the tax impact on your retirement funds. FRS offers this service for free at (866) 446-9377.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you begin receiving your pension. You must submit a completed HIS application directly to Division of Retirement to receive this benefit.

During the six-month window prior to DROP exit date:

• View the FRS Video (recommended)
• Contact FRS at (866) 446-9377 for benefit estimates or log in to FRS Online to monitor your DROP trust fund balance.
• We recommend that all employees schedule an appointment with the UF Benefits team three to six months before retirement to ensure a smooth transition.

Three months before DROP exit date (Medicare age, 65+):

• 90 days before your DROP exit date, the Division of Retirement (DOR) will mail you an information packet and required forms.
  • Submit DP-Term form to UF Benefits at benefits@ufl.edu.
  • Return DP-PAYT to DOR to specify how you want to receive your DROP trust fund benefit.
    • Recommended: Speak with a tax specialist or certified financial advisor prior to making this decision to ensure that you minimize the tax impact on your retirement funds. FRS offers this service for free at (866) 446-9377.
• Request your verification of employer group insurance for your Medicare Part B application from the Benefits team by emailing benefits@ufl.edu (form CMS-L564).
• Apply for Medicare by contacting Social Security or enrolling directly at medicare.gov.
  • Free Medicare advising is available through the SHINE nonprofit at 1-800-963-5337.
  • Medicare Part B must be your primary medical coverage once your employee coverage ends.
• You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • Please review this guide to state retiree health plan options and the enrollment process to determine whether a state Medicare supplement or a private one will be the best choice for you.
  • If you want to enroll in one of the Humana Medicare supplement plans, you will need to upload your Medicare card to People First no later than the 20th of the month before your plan will begin.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you begin receiving your pension. You must submit a completed HIS application directly to Division of Retirement to receive this benefit.

Three months before DROP exit date (under age 65):

• 90 days before your DROP exit date, the Division of Retirement (DOR) will mail you an information packet and required forms.
  • Submit DP-Term form to UF Benefits at benefits@ufl.edu.
  • Return DP-PAYT to DOR to specify how you want to receive your DROP trust fund benefit.
    • Recommended: Speak with a tax specialist or certified financial advisor prior to making this decision to ensure that you minimize the tax impact on your retirement funds. FRS offers this service for free at (866) 446-9377.
• You are not yet eligible for Medicare, but you may be eligible to participate in state early retiree health coverage.
  • You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • If you want access to the state Medicare supplements later in life, you must stay enrolled in a state health plan until you reach age 65. Once you enroll in Medicare Part B, you will be eligible to change your early retiree coverage to one of the Medicare supplement plans.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you begin receiving your pension. You must submit a completed HIS application directly to Division of Retirement to receive this benefit.

After DROP exit date:

• Confirm that you are correctly receiving your pension benefit and your health insurance subsidy. You should begin receiving these at the end of the month following your DROP exit date. 
• Confirm that your retiree health coverage has started (including Medicare Part B if applicable) and that you have the cards and information you need to use your benefits.
• Enjoy your retirement!

During the six-month window prior to retirement date:

• Review the When Your FRS Employment Ends booklet.
• We recommend that all employees schedule an appointment with the UF Benefits team three to six months before retirement to ensure a smooth transition.
• Submit your retirement letter to your department and to UF Benefits (one month minimum, at least three recommended).
• Contact a myFRS financial guidance counselor at (866) 446-9377 to review your account, estimate your income at retirement, and set up your distribution.
  • You must take a distribution from your state retirement plan to be eligible to transition into state retiree health coverage. It can be as small as $1, but that distribution is what marks you as a retiree in the state’s eyes.
  • If you want that coverage, schedule your early distribution for 1 month after your exit. This can be any amount you like up to 10% of the fund. The certified financial planners with FRS can assist if you have any concerns about tax implications.
  • All positions, even temporary or unpaid ones, must be closed for your distribution to be approved. 
  • For the six months following your distribution, you will be ineligible for rehire, and volunteering is limited to 20% of your regular worked time.
• You will be eligible to begin receiving your Health Insurance Subsidy (HIS) as soon as you receive your first Investment Plan distribution. You must submit a completed HIS application packet directly to Division of Retirement to receive this benefit.

Three months before retirement date (Medicare age, 65+):

• Request your verification of employer group insurance for your Medicare Part B application from the Benefits team by emailing benefits@ufl.edu (form CMS-L564).
• Apply for Medicare by contacting Social Security or enrolling directly at medicare.gov.
  • Free Medicare advising is available through the SHINE nonprofit at 1-800-963-5337.
  • Medicare Part B must be your primary medical coverage once your employee coverage ends.
• You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • Please review this guide to state retiree health plan options and the enrollment process to determine whether a state Medicare supplement or a private one will be the best choice for you.
  • If you want to enroll in one of the Humana Medicare supplement plans, you will need to upload your Medicare card to People First no later than the 20th of the month before your plan will begin.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.

Three months before retirement (under age 65):

• You are not yet eligible for Medicare, but you may be eligible to participate in state early retiree health coverage.
  • You must transition into state retiree coverage at the time you retire or you will lose the opportunity.
  • If you want access to the state Medicare supplements later in life, you must stay enrolled in a state health plan until you reach age 65. Once you enroll in Medicare Part B, you will be eligible to change your early retiree coverage to one of the Medicare supplement plans.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.

After retirement date:

• Confirm that you are correctly receiving your retirement funds.
• Confirm that your retiree health coverage has started (including Medicare Part B if applicable) and that you have the cards and information you need to use your benefits.
• Enjoy your retirement!

During the six-month window prior to retirement date:

• We recommend that all employees schedule an appointment with the UF Benefits team three to six months before retirement to ensure a smooth transition.
• Submit your retirement notice to your department and copy UF Benefits at benefits@ufl.edu.
• Submit Service Retirement application to the state to authorize distribution of retirement funds.
  • Options for submission:
    • Option 1: Submit application electronically at FRS Online, which does not require notarization.
      • If you have not logged in before, you will need to register your account first. Here is a walkthrough guide for the application.
    • Option 2: Submit completed ORP Retire form to UFHR Benefits by fax at 352-392-5166 or by email at benefits@ufl.edu, redacting your SSN if you choose email.
      • Your hard copy form may be completed at an appointment with a Benefits team member if desired. We are all notaries.
  • If you want to transition into state retiree health coverage after retirement, make sure to indicate that you want to take an early distribution. If using the ORP Retire form, include a proof of birthdate document (driver’s license with Real ID star, birth certificate, passport, etc.). 
• Contact your investment provider to request that they notify you once the state authorizes the release of funds. That process may take roughly 15 business days. You may then coordinate the distribution with your investment provider. 
• Schedule your early SUSORP distribution for 1 month after your exit. This can be any amount you like up to 10% of the fund. Please work with a financial advisor if you have any concerns about tax implications.
  • You must take a distribution from your state retirement plan to be eligible for retiree coverage. It can be as small as $1, but that distribution is what marks you as a retiree in the state’s eyes.
  • All positions, even temporary or unpaid ones, must be closed for your distribution to be approved. 
  • For the six months following your distribution, you will be ineligible for rehire, and volunteering is limited to 20% of your regular worked time.

Three months before retirement date (Medicare age, 65+):

• Request your verification of employer group insurance for your Medicare Part B application from the Benefits team by emailing benefits@ufl.edu (form CMS-L564).
• Apply for Medicare by contacting Social Security or enrolling directly at medicare.gov.
  • Free Medicare advising is available through the SHINE nonprofit at 1-800-963-5337.
  • Medicare Part B must be your primary medical coverage once your employee coverage ends.
• You must enroll in state retiree coverage at the time you retire or you will lose the opportunity.
  • Please review this guide to state retiree health plan options and the enrollment process to determine whether a state Medicare supplement or a private one will be the best choice for you.
  • If you want to enroll in one of the Humana Medicare supplement plans, you will need to upload your Medicare card to People First no later than the 20th of the month before your plan will begin.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.

Three months before retirement (under age 65):

• We recommend that all employees schedule an appointment with the UF Benefits team three to six months before retirement to ensure a smooth transition.
• You are not yet eligible for Medicare, but you may be eligible to participate in state early retiree health coverage.
  • You must enroll in state retiree coverage at the time you retire or you will lose the opportunity.
  • If you want access to the state Medicare supplements later in life, you must stay enrolled in a state health plan until you reach age 65. Once you enroll in Medicare Part B, you will be eligible to change your early retiree coverage to one of the Medicare supplement plans.
  • The People First Service Center at 866-663-4735 can review your state retiree health options and assist with enrollment.

After retirement date:

• Confirm that you are correctly receiving your retirement funds.
• Confirm that your retiree health coverage has started (including Medicare Part B if applicable) and that you have the cards and information you need to use your benefits.
• Enjoy your retirement!

FRS Pension Plan

As a vested FRS Pension Plan participant, you may take early retirement instead of normal retirement if you are vested and within 20 years of your normal retirement age. Your benefit is reduced by 5% for each year you are under your normal retirement age. Refer to the “Early Retirement” section of the FRS Pension Plan Member Handbook for more information. Early retirees will complete the same steps as listed in the “Service Retirement” section above.

Taking a distribution from your pension will make you ineligible for rehire for at least six months from the date of your distribution. You would also become ineligible to rejoin the Pension Plan or DROP upon rehire even if your position would usually qualify.

FRS Investment Plan

As a vested FRS Investment Plan participant, taking a distribution from your plan prior to age 59.5 is considered early retirement and may be subject to a 10% tax penalty. Rollovers and withdrawals are both considered distributions and will make you ineligible for rehire for at least six months from the date of your distribution. You would also become ineligible to join the Pension Plan or DROP upon rehire even if your position would usually qualify.

SUSORP

All SUSORP participants are immediately vested. Taking a distribution from your plan prior to age 59.5 is considered early retirement and may be subject to a 10% tax penalty. Rollovers and withdrawals are both considered distributions and will make you ineligible for rehire for at least six months from the date of your distribution. You would also become ineligible to join the Pension Plan or DROP upon rehire even if your position would usually qualify.

• Contact the Division of Retirement’s Disability Determination Section at 1-844-377-1888 to discuss your options.
• Submit the Application for Disability Retirement to the Disability Determination Section.