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The Florida Retirement System Pension Plan. This section is intended to provide you with an overview of the FRS Pension Plan - from how and why the plan is offered, to eligibility requirements, retirement income options, and related programs. Click on the subheadings below to access the specific topic of interest within this page.
The 2023 edition of the Member Handbook for the Florida Retirement System Pension Planhas been prepared to inform you about the benefits and policies of your retirement system and your rights as a member. Membership in the Florida Retirement System (FRS) is an important benefit.
Online Resources. Visit the FRS Pension Plan website to view details on the FRS Pension Plan. This website also has resources such as publications and estimate calculators, to help you understand your retirement options and ensure that you make the best choice for your future. You may also view the FRS Pension Plan's summary plan description [ ].
Jun 30, 2023 · The division administers the Florida Retirement System (FRS) Pension Plan, currently the fourth largest state retirement system in the US with more than 1.1 million active, retired, and terminated vested members and $190 billion in assets. The division also administers other state-administered retirement systems:
FRS Online (frs.fl.gov) is a secure website for all Florida Retirement System (FRS) Pension Plan members. FRS Online can be used to view account information or make changes. FRS Online can be used by FRS Investment Plan members who receive a disability retirement or a Health Insurance Subsidy.
When you work for the state, the Florida Retirement System (FRS) offers two retirement options: The FRS Pension Plan provides a monthly benefit to you when you retire. The FRS Investment Plan lets you choose how your money is invested and how you want to receive payments.
FRS Pension Plan. Regular Class Pension. The FRS Pension Plan is a defined benefit plan that uses your income, years of service, and a 1.6% multiplayer to determine a monthly benefit in retirement. Plan differences will vary slightly based on hire date, but the basics computation of the plan is as follows:
