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The Florida Retirement System or FRS offers two retirement plans for state and county workers the FRS Pension and FRS Investment plan. Both offer terrific benefits; which on is right for you?

FRS Investment Plan

How It Works

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.

The FRS Investment Plan is funded by employer and employee contributions that are based on your salary and your FRS membership class (Regular Class, Special Risk Class, etc.). The Investment Plan directs contributions to individual member accounts, and you allocate your contributions and account balance among various investment funds. (Participant contributions are not allowed.)

Your Investment Plan retirement benefit is the value of your account at termination. Unlike the Pension Plan, there is no fixed benefit level at retirement. However, a guaranteed lifetime cost of living payment option (based on the benefit to be distributed) can be purchased and is available with annual 3% cost of living increases, like the Pension Plan.

Let’s look at some of the pros and cons of the Investment plan:


  • After 1 year of service you are vested.
  • Your account balance has more time to grow, if you are a younger employee
  • Significant growth is possible if your investments do well.
  • You can choose from a highly diversified choice of investment funds.
  • If you decide to move to another company, you can leave your account in the plan to grow or roll it over in another qualified retirement plan.
  • Flex distribution options are available.
  • Have a retirement plan benefit from a previous employer you may be able to roll it over to your investment plan.
  • You may be eligible for disability benefits.


  • There is a risk involved. Suppose your investments in your account don’t perform well your retirement benefit my decrease in value.
  • You need to monitor your investments actively.
  • This is a long-term approach to investment that requires discipline to see through.
  • You may not have enough time as an older employee to accumulate a significant account balance before you retire.
  • With poor planning you could outlive your benefit.
  • If you decide to transfer to the pension plan but your investment plan account balance is lower than the amount needed to fully fund your Pension Plan account. The remaining amount is your responsibility to make up as such a buy-in may not be affordable.

Learn More: FRS Pension Plan

Strategies for Financial Independence

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We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.


It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.

Get access to our helpful retirement kit which includes two guides that address topics you should consider when planning your retirement.

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