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Florida Retirement System

Navigating You Through The Complex Waters of the FRS

We believe that every member of the Florida Retirement System (or FRS*) should be educated on the benefits allowed to them. At Voyage, we provide guidance to understanding those benefits and help you discover how you can leverage them in your retirement strategy. Please see the video below for more information and resources on the key aspects of the FRS.

What Is the FRS?

Put simply, FRS is a Florida‐state‐run retirement plan for state and county workers. As a county employee, you are a member of the Florida Retirement System or FRS.  As such, you have the option of two retirement plans: Pension or Investment.

THE PENSION PLAN

The FRS Pension Plan guarantees a retirement benefit based on salary, service time, and class for those meeting criteria. The FRS is responsible for managing funds and investment risks for your future benefits.

THE INVESTMENT PLAN

The FRS Investment Plan is a defined contribution plan, in which employer and employee contributions are defined by law, but your ultimate benefit depends, in part, on the performance of your investment funds.

Deferred Retirement Option Program (D.R.O.P.)

D.R.O.P., or the Deferred Retirement Option Program, allows you to maintain your employement and continue to receive your salary while your pension is paid into a Trust Fund with the State of Florida, tax deferred.

There are a lot of factors to consider when making a big decision like whether or not to register for D.R.O.P. and these factors vary from person to person so it’s important to consider your personal circumstances when making this decision. We invite you to register for our online webinar: D.R.O.P. or Not?

If you’ve already decided to enter the program, we’ve put together an Entering D.R.O.P. Checklist just for members like yourself, you can read it here.

Drop or Not Choice
DROP Or Not Webinar

Join Daniel Rey, your local NEA Retirement Representative, for an in-depth look into DROP.

Florida Teacher
Entering DROP Checklist

Navigating DROP entry? This checklist is your first step toward retirement readiness.

Let Voyage Help You Today

No matter what step you’re on, we would be happy to walk you through any next steps during a complimentary, no‐obligation meeting with one of our professionals today.

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Exiting DROP Checklist

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DROP, Now What?

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DROP or Not?

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