Title: Florida retirement systems bulletin
CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00085472/00001
 Material Information
Title: Florida retirement systems bulletin
Alternate Title: FRS bulletin
Florida retirement system bulletin
Physical Description: v. : ill. ; 28 cm.
Language: English
Creator: Florida -- Division of Retirement
Publisher: Dept. of Administration, Division of Retirement,
Dept. of Administration, Division of Retirement
Place of Publication: Tallahassee Fla
Publication Date: Fall 2002
Copyright Date: 1975
Frequency: irregular
completely irregular
 Subjects
Subject: Civil service -- Pensions -- Periodicals. -- Florida   ( lcsh )
Officials and employees, Retired -- Periodicals -- Florida   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
periodical   ( marcgt )
 Notes
Dates or Sequential Designation: Vol. 2, no. 1 (March 1975)-
General Note: Title from caption.
General Note: Title varies slightly.
 Record Information
Bibliographic ID: UF00085472
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 28011190
 Related Items
Preceded by: Florida retirement bulletin

Full Text











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Department of Management Services


Division of Retirement


2002 Retirement Legislation


L aws enacted by the Florida
Legislature in 2002 could affect
you as a member of the Florida
Retirement System. Major
enactments are described below:

DROP
Instructional Personnel -
In July 2001, the 12-month
enrollment window for the
Deferred Retirement Option
Program was eliminated for
instructional personnel. These
members can elect to begin DROP
participation at any time after
reaching their normal retirement
date. Affected employees
originally included instructional
personnel in public schools,
community colleges, and
universities. However, in the 2002
Special Session E, this provision
was amended as part of the
revision of the Florida School
Code. Under the new law, which
takes effect on January 7, 2003, the
broader DROP election options

In this Issue ...
2002 Retirement Legislation....1
New Guides Are Out ............ 2
Annual Statements............... 3
Ready to Buy Some Credit? ...4
Saver's Credit ......................
Rule of 72 ......................... 7
Toll-Free Hotline ............... 8
Contact Us..................... 8


will be available to instructional
personnel in grades K-12 only.
Elected Officers -
In 2002, the law was amended to
allow elected officers in the
Deferred Retirement Option
Program (DROP) to end their
program participation and
continue in office until the end
of their current term or, it
consecutively elected, until
they no longer hold elech\ie
office. Under this law,
the officer's program
account will
continue
accruing
interest, but
no
additional --
benefits will
be deposited
and no
retirement
contributions
or benefits will be paid during
continued service. At termination,
the officer will receive all account
proceeds and start receiving
monthly benefits. Any elected
officer who entered DROP before
June 30, 2002, was "grandfathered
in" and will remain eligible for the
exemption available under laws
that applied in 2001.


FRS Investment Plan
As you may know, a new program
has been added to the menu of
choices available to members
starting this year -an employer-
funded, optional defined
contribution
program under
the Florida
Retirement
System, known as
the FRS Investment
Plan.
SUntil the new optional
plan \ as established, the
. Florida Retirement System
S\\ as essentially a defined benefit
plan the type of plan where
Sou r futu re monthly lifetime
benefit is an amount
determined by
a formula based
on your
earnings, length of
service, and
membership class. Under
the FRS Investment Plan, your
employer contributes to an
account in your name. You direct
your own investments. Your
benefit is the money that accrues
in your individual account until
you "retire" (terminate and elect
to take your money or roll it over
into another qualified account).
All current and future active mem-
bers of the Florida Retirement
System and participants in the


Fall 2002







New Guides Are Out...
New and improved Retirement
Guides for 2002 are now available!
A separate book is published for
each membership class of the FRS
Pension Plan. The guides include
important information about your
retirement system and should help
you understand the benefits, rights,
and features of your plan.
Your FRS employer distributes
these valuable reference tools to
you. They are also available to you
online from the Publications Page
of the Division's website at
www.myflorida.com/frs.

Senior Management Service
Optional Annuity Program are
eligible to elect to participate in
this new plan. The earliest possible
enrollment date was July 1, 2002,
for state employees. The education
and enrollment periods are
different for school board
employees and local government
employees. The earliest possible
enrollment date is October 1, 2002,
for school board employees and
January 1, 2003, for local
government employees.
The 2002 Florida Legislature made
several major enhancements to
this plan. Based on these changes:
* You may be able to transfer
your retirement savings from
other qualified plans into the
plan as "rollovers."
Renewed members FRS
retirees who return to work
and reestablish their FRS
membership can now
choose to participate in the
FRS Investment Plan. If you
are a renewed member, you
will receive separate notice
about your education and
election/enrollment schedules.
Coverage for total and
permanent disability will be
offered under the Florida
Retirement System Investment


Plan for as long as you are an
active participant who has not
terminated and taken a
distribution of plan proceeds.
This coverage will be the same
as is currently available under
the FRS Pension Plan.
State employees who retire
under the FRS Investment Plan
may be able to continue their
coverage under the State Group
Insurance Program upon retire-
ment from covered employ-
ment. To qualify, you must
either meet the same age and
service requirements for normal
retirement as apply to members
of the FRS Pension Plan (age 55
or 25 years of service for special
risk members and age 62 or
30 years of service for all other
members), or have at least
6 years of creditable service and
reach the minimum retirement
age under the Internal Revenue
Code (currently age 591/2). At
retirement, non-state employees
must be given the option to
continue their group insurance
coverage, if offered, as provided
in s. 112.0801, Florida Statutes.
(The law does not specify when
"retirement" occurs for non-
state employees.)
The State Board of
Administration is
responsible for the
administration of the
FRS Investment Plan,
in cooperation with the
Division of Retirement
and plan contractors. For 4
updates on the new program, you
may visit the agencies' cooperative
website at www.myfrs.com or the
Division's website
www.myflorida.com/frs.

Other Optional Programs
State University System Optional
Retirement Program -
As of June 1, 2002, provisions
governing the State University
System Optional Retirement


Program were revised to expand
the type of contracts available
under the program beyond group
annuity contracts and to allow
acceptance of incoming moneys in
the form of "rollovers." Program
account benefits must be paid in
accordance with section 403(b) of
the Internal Revenue Code.
Distribution options will include
lump-sum distributions, lump-
sum direct rollovers to a qualified
account, periodic distributions,
and other options that may be
available under the contract.

Senior Management Service
Optional Annuity Program -
Any current or past participant of
the Senior Management Service
Optional Annuity Program
employed in a position eligible for
coverage under the Florida
Retirement System was given an
opportunity to convert his/her
program service to creditable
service under the FRS Pension
Plan during a 3-month window
from July 1, 2002, through
September 30, 2002.

Benefits, Rights & Features
Pretax Purchase of Service Credit
If you are a member of the
FRS Pension Plan, you
may buy addi-
tional service
/ credit to
increase your
pension benefit.
Due to recent amend-
ments to state retirement
law and federal tax law,
you may now pay for it with
pretax savings from your tax-
qualified account (such as a 457 or
403(b) account). You can purchase
service credit under the FRS
Pension Plan for other non-FRS
service periods you may have (for
example, military service, leaves of
absence, refunded service, or in-
state and out-of-state public
service not covered by the Florida
Retirement System).






Special Risk Disability Benefits
For disability retirements on or
after July 1, 2002, the existing legal
presumption for firefighters or
state law enforcement officers that
disability or death resulting from
tuberculosis, heart disease, or
hypertension was suffered in the
line of duty has been expanded to
cover all certified state and local
law enforcement officers or
correctional officers.
Instructional Personnel Benefits
Beginning June 1, 2002, salary
supplements paid to teachers
under the Excellent Teaching
Program and the Florida Mentor
Teacher School Pilot Program
will be treated as
compensation
for retirement
purposes as
long as a valid
National Board
for Professional
Teaching Standards
certificate or equivalent status
is required for the program
service. These salary supplements
have the potential to improve your
retirement benefit under the FRS
Pension Plan, if received in one of
your 5 highest fiscal years of pay.
Service Credit Upgrades
Starting June 1, 2002:
* State attorneys and public
defenders in the Elected
Officers' Class may upgrade
service credit they earned
under the Regular Class as an
assistant state attorney or
assistant public defender to
Senior Management Service
Class value.
Special Risk Class members
with previous service credit
earned in another membership
class while filling a position
involving fire prevention or
firefighter training may upgrade
that service credit to Special
Risk Class credit value.


Annual Statements
Member Annual Statements should be printed and distributed by late
November. These statements summarize your retirement record and, if
you are vested, estimate your benefits. Each active member of the FRS
Pension Plan working in May or June of 2002 will receive a statement.
Some members will not get a statement. If you are retired or in DROP, or
have applied for either, you won't receive a statement. If you elected to
join the FRS Investment Plan, you won't get one.
Where possible, statements will be mailed to members at home addresses.
However, if your home address as reported to the Division by your
employer doesn't meet postal requirements for sending as presorted mail,
your statement will be sent to your employer for distribution to you.


Participation &v Membership
Special Risk Class
SThe Special Risk Class has
been expanded to include:
Community-
based
correctional
probation
officers and
specified health
care positions at
correctional and forensic
institutions within the
Department of Children and
Family Services;
State employees with fire
prevention or firefighter
training responsibilities, and
their supervisors;
Fixed-wing pilots performing
aerial firefighting surveillance
with the Division of Forestry
of the Department of Agricul-
ture and Consumer Services;
The direct supervisors of
emergency medical technicians
or paramedics, or the
supervisor or command officer
of one or more members who
have such responsibility; and
Youth custody officers respons-
ible for supervised custody,
surveillance, control,
investigation, apprehension,
arrest, and counseling of
assigned juveniles within the
community.


Senior Management Service Class
The Senior Management Service
Class has been expanded:
* Effective January 1, 2002, all
assistant attorneys general are
compulsory members.
Since June 1, 2002, the chief
deputy court administrator in
each judicial circuit and all
county health department ad-
ministrators and county health
department directors for the
Department of Health are com-
pulsory members of the class.
Miscellaneous
Beginning June 1, 2002, the sheriff
and clerk of a consolidated
government with countywide
jurisdiction may choose whether
to participate in the Florida
Retirement System Pension Plan
or the local retirement system.
Reemployment after Retirement
Effective June 1, 2002, the
restrictions on reemployment after
retirement under the Florida
Retirement System Pension Plan
are modified to add an exception
permitting any retired member to
become reemployed as a fire-
fighter or paramedic for up to 780
hours during the 2nd through the
12th month of retirement.
Contribution Rates
Employer contribution rates were
adjusted on July 1, 2002.







Ready to Buy Some Credit?


H ope to improve your FRS
Pension Plan benefit by
buying extra retirement credit, but
think you can't afford
it? Think again. By
using money
saved under one
of the pretax
programs
available to you
by federal and
state law, you may
be able to do it.
Until now, to buy additional
service credit under the FRS, you
had to pay with your "after tax"
dollars. Now, thanks to new tax
legislation (the Economic Growth
and Tax Relief Reconciliation Act
of 2001, or EGTRRA), you can use
pretax dollars to buy this credit.
For years, many of you have
sought to improve your retirement
prospects by participating in
voluntary supplemental retire-
ment plans provided by your
employers, such as 457 accounts
(deferred compensation) and
403(b) accounts (tax-sheltered
annuities). Historically, these
types of plans have operated
under very different tax rules than
apply to the FRS a 401(a)
defined benefit plan and, until
now, were subject to limitations
that prevented or severely
restricted plan-to-plan transfers.
No more. Based on recently granted
federal and state authority, the
Division of Retirement now accepts
trustee-to-trustee transfers
("rollovers") from your pretax 457
and 403(b) accounts for the
purchase of eligible service credit
under the FRS Pension Plan. You
may also transfer money from
another qualified retirement plan or
from an IRA (individual retirement
account/annuity) for this purpose.
The new law significantly improves
your portability options among the


many types of retirement and
supplemental retirement plans.

What Kind Can You Buy?
If you worked before 1975
and took a refund of
your personal contribu-
tions at termination,
you could repay
S money you owe for the
service credit you lost.
Or you could buy
service credit you may
be eligible for under the
pension plan, including:


* Credit for your wartime mili-
tary service if you first joined
the FRS before January 1, 1987.
* Credit for your qualifying in-
state or out-of-state public
service outside the FRS (out-of-
state service includes federal
and military service).
* Credit for periods when you
were: On a leave of absence
without pay; suspended with-
out pay if you were later rein-
stated; or out due to a dismis-
sal that was later rescinded.


SAVER'S CREDIT

More Good News! Congress has made it easier for
income-eligible workers to participate in supplemental
retirement plans.


The Economic Growth and Tax Relief Reconciliation st j
Act of 2001 (EGTRRA) establishes a temporary,
nonrefundable "saver's credit," available through 2006, to encourage
low- and middle-income taxpayers to supplement their retirement. This
tax credit reduces your income taxes dollar for dollar and applies to
annual contributions of up to $2,000 made to supplemental retirement
plans like 401(k) plans, IRAs, 403(b) plans, and 457 plans.

To qualify, you must be age 18 or older and not claimed as a dependent
by another taxpayer. Your adjusted gross income must be $25,000 or less
(single taxpayer), $37,500 or less (head of household), or $50,000 or less
(taxpayers filing jointly). The level of credit depends on your adjusted
gross income. Those who qualify can receive a tax credit up to $1,000
(from 10% to 50% of each dollar you contribute, up to $2,000), as
shown below:

Tax Credit with $2,000 Annual Contribution

Tax Tax
Head of Credit Credit
Joint Return Household All Others %/ $

$0-$30,000 $0-$22,500 $0-$15,000, 50% $1,000
$30,001- $22,501- $15,001-
$32,500 $24,375 $16,250 20% $400
$32,501- $24,376- $16,251-
$50,000 $37,500 $25,000 10% $200-
$50,001 + $37,501 + $25,001 + 0% $0


4 *







* Credit for your work performed
for a city or special district
before it joined the FRS, or for
a local entity or function later
assumed by a state or local
government agency, resulting
in your FRS membership.
Credit for periods of disability
retirement if you later recover
and return to work.
The amount of credit you may buy
and the cost will vary, depending
on the type of service credit. The
service must have been covered
for retirement, but you cannot be
eligible for a benefit based on that
service. For more information on
service credit you may buy, see
the retirement guide for your
membership class or contact the
Bureau of Retirement Calculations.
(For contact information, see page 8.)


To Buy or Not to Buiy?
Before buying service credit, weigh
the value of the benefit improve-
ment against your cost. Ask your-
self some basic questions: What
will the service credit cost me?
How much will the added credit
improve my benefit? How long
will it take me to recover my
purchase price? Am I likely to live
long enough to recover my


purchase price? Are there smarter
ways for me to use the money?
"If you don't know where you're
going, when you get there, you'll be
lost" -- Yogi Berra
Balancing the offsetting dynamics
can get pretty confusing, but a
couple basic rules of thumb apply:
* If you retire early and use the
extra credit to qualify for
normal retirement, it could
easily be worth the price
because you can avoid the
benefit reduction that would
otherwise occur. And, since
the early retirement reduction
depends on your age (not on
length of service), the younger
you are when you retire, the
greater the value of your
purchased service credit.
If you retire on or after your
normal retirement date, the
value is less obvious.
Due to added
interest, the longer
you wait to buy
service credit,
the greater your
cost will be, and
Sthe older you are
* when you retire,
the less time you'll
have to recover
your cost.
For example, if
you buy credit for in-
state or out-of-state public
service, the base price is 20% of the
salary you earned when you
entered the system (subject to a
minimum salary of $12,000). Then,
from the date you enrolled in the
pension plan to the date of pur-
chase, the price increases by 6.5%
each year. So, at the lowest
possible price of $2,400 plus 6.5%
interest compounded annually, if
you wait until you are 29 years
into your career to buy credit, it
would cost you about $14,000 for
1 year of service credit (or more if


your first salary under the FRS
was greater than $12,000).
That sounds like a lot. However, if
you are fairly young and use the
extra credit to avoid a substantial
early retirement reduction, the
gain is often worth the price. For
instance, if a regular member we'll
call "Jack" retired at age 52 with
29 years of service and 1 year of
purchased service credit, Jack
would be 10 years away from the
normal retirement age of 62. With
a 5% reduction for each year
remaining until he would reach
age 62, Jack could avoid a 50% cut
in his/her retirement benefit by
buying 1 year of credit. In this
case, the $14,000 price could be
offset within a reasonable time.
Your potential advantage dimin-
ishes as you approach normal
retirement age. For example, if the
added credit increases your bene-
fit by $500 a year, but costs you
$14,000, it could take 28 years
before you would recoup your up-
front cost. This simplified example
ignores your annual 3% cost-of-
living adjustment (with the COLA,
it would take you just under
21 years to recover $14,000).
Clearly, if you won't live long
enough to recover your cost, it is
probably not in your best interest
to buy the credit. But, if you plan
ahead and buy service credit
before years of interest have
driven the price up, the cost can be
much smaller. (After 10 years of
service, at the minimum price, the
minimum cost for 1 year of credit
would be about $4,000.)
Of course, you could do other
things with your money. You
could invest it or buy an annuity
instead of buying retirement
credit. Looking at it that way, it
could actually take you longer to
recover your true cost your
initial expense plus potential earn-
ings, minus inflation. In any case,
you must decide for yourself.


* *5






A Tax Break for You
Because you can now
buy your
retirement
credit with
pretax dollars,
you have further
issues to consider.
Since no tax is
paid on the
income you set aside
in a tax-sheltered plan
until the money is
distributed to you, your pretax
dollar can "stretch farther" than
your after-tax dollar. In other
words, a person in the 20% income
tax bracket could set aside $1,000
in pretax income and experience a
loss in spendable income of about
$800. So, by moving your pretax
dollars from one plan to another,
you can buy your FRS retirement
credit more cheaply. It's like
getting $1,000 worth of retirement
credit at a 20% discount. You will
still owe taxes on your benefits
when you receive them, but, by
that time, you would probably
have less income and be in a lower
income tax bracket.
Even if you don't have money in a
457, 403(b), or similar pretax plan,
if you intend to buy retirement
credit with your after-tax savings,
it could be cost-effective for you to
rethink your strategy. You could
enroll in a supplemental retire-
ment plan, arrange to set aside
your income at the maximum rate
allowed for the time required, and
live on your savings until your
pretax account covers the price of
the credit you wish to buy.
Here's What to Do ...
To use your pretax dollars to
purchase retirement credit under
the FRS Pension Plan:
1. Make sure your service quali-
fies for credit purchase. If you
aren't sure, or if you haven't
yet established the cost for the
service credit, contact the


Bureau of Retirement
Calculations and talk with a
benefits specialist (see page 8).
2. Contact the trustee or
custodian of your eligible
pretax plan and see if
there are any restrictions
or requirements that
may apply to your
transferral of funds. If
there are restrictions,
surrender fees, or other
adverse consequences, factor
them into your decision-
making process before
going forward. Q
3. To establish )
your eligibility
to purchase
the credit, C
obtain the
appropriate g V
form (see
below), complete
it, or have it
completed, as *
indicated, and
submit it to the 1
Division.
4. To buy credit for a leave
of absence, you will need Form
FR-28; for verification of in-state
or out-of-state service, you will
need Form FR-30; or to establish
eligibility to claim military ser-
vice credit, you will need copies
of your discharge papers and
either Form MF-1 or Form MF-2.
5. To arrange for the trustee-to-
trustee transfer of funds
between plans, the Pretax
Direct Rollover/Transfer Form
(PRO-1) must be completed by
both you and the trustee or
custodian of your eligible
pretax plan and submitted to
the Division. To retain the
special tax-deferred status, the
funds must be sent directly to
the Division by your pretax
plan trustee or custodian. The
PRO-1 Form should accom-
pany the transfer payment for
the payment to be credited by


the Division. (Your pretax plan
administrator or provider may
have additional requirements
for you to meet.)
6. When the Division receives the
PRO-1 Form and rollover
distribution from the custodian
of your eligible pretax plan, the
credit purchase will be posted
to your account.
Delay Can Be Costly
In any event, the earlier in your
career you buy retirement credit,
the better. No matter what type
of credit you buy, the cost
y goes up by 6.5% each
year on July 1st. Once
Syou decide to buy,
the safest approach is
to start no later than
* March or April to
_ allow for delays that
may occur so that the
0 process can be
*~ completed by
40 June 30th.
Procrastination can be
extremely costly. A
simple table illustrates
how the cost escalates, based on
the minimum starting price of
$2,400 for a year of in-state or out-
of-state credit:

Approximate Cost
for 1 Year's Credit
(at minimum cost of
$2,400 + 6.5% yearly interest)
9 5 $3,000


$4,200
$5,800
$8,000
$11,000
$15,000


Every situation is different and the
right answer for you will depend
upon your personal circumstances.
The good news: Division staff will
be happy to help you with your
analysis.


~I~











o f







The Rule of 72 is
a nifty math
shortcut you can
use to forecast
how long it takes
your money to
double (before
taxes). No calculator is
needed. How does it
work? Easy. With an investment
you expect to grow at a certain
annual rate of return, simply
divide the expected return rate
into 72 for a ballpark idea of how
many years it would take your
investment to double. In other
words, a $20,000 investment that
earns 8% annually and is con-
tinually reinvested will be worth
$40,000 in 9 years (72/8 = 9). With
6% annual earnings, the invest-
ment would double in 12 years.
See how it works?
Inflation Impact
Reverse the procedure to see the
effect inflation has on your spend-
ing power. For example, if you
assume the cost of living will in-
crease at the rate of 3% each year,
just divide 72 by 3 to see how
many years it would be before your
purchasing power would be cut in
half if you were living on a fixed
income in this case 24 years.
Real Rate of Return
Put the two ideas together, and
you get an idea of how long it can
take to really double your money,
in today's dollars, based on a real
rate of return (the nominal interest


rate minus the rate of inflation).
Just subtract your assumed
inflation rate (3%) from your
assumed earnings rate (8%) to get
a ballpark idea of your real rate of
return (5o). Divide this rate into
72 to see how long it would be
before you could buy twice as
much with the money you
originally invested
(14.4 years).
Throw Taxes in
the Mix
am* So far, these
r examples do not
account for taxes.
They assume your
investment is tax-
deferred and
earning compound
interest at a hypothetical and
constant rate of return. Naturally,
if you have to pay taxes on your
profit as you go along, your
earnings are reduced, so it would
take longer for you to double your
money. For instance, if you paid
income taxes at an effective annual
rate of 25% and placed your
money in a taxable savings
account that earns 8% interest
annually, by the time you pay
taxes on your earnings, you will
have actually earned closer to 6%
annually. Divide 72 by 6% and
you can see it would take you
12 years to double your taxable
savings, as compared to the
9 years it would take to double
your savings, tax-deferred.
Net Rate of Return
How do you put this all together?
1. Adjust your original
investment amount for
inflation;
2. Adjust your annual earnings
for both taxes and inflation;
and
3. Combine the results to see
your net value after 1 year.


For example, suppose you have a
$10,000 taxable investment that
returns 8% each year and you are
in the 25% tax bracket. Say the rate
of inflation is 3%. The following
table roughly estimates the net
rate of return for 1 year:

Net RaeoRtr
^^^^^^^after 1 Year ^^


$10,000
minus $300
$9,700
$800
minus $200
minus $24
$576

$9,700
plus $576
$10,276


Original Investment
Effect of Inflation @ 3%
Adjusted Investment
Earnings
Taxes
Inflation @ 3%
Earnings after
Taxes/Inflation
Adjusted Investment
Adjusted Earnings
Investment, Adjusted
for Taxes & Inflation


$276 Net Taxable Earnings
2.76% Net Rate of Return
If your investment is tax-deferred,
your net earnings (after inflation)
would be $200 more ($476), and
your net rate of return would be
4.76% about 73% higher!
Cautions
While these "rules of thumb" can
be useful, there are a few things
you should remember before
banking too much of your hard-
earned income on them. Keep in
mind that:
* Few investments guarantee a
rate of return.
Past performance does not
guarantee future results.
Taxes and inflation
significantly affect your
acquisition power.
The methods described in this
article are simplified for
illustration purposes, and are no
substitute for a thoughtful
investment and retirement
planning strategy.


-- r~"







Toll-Free Hot

Retirement issues can be
intimidating. You may have
questions about a dizzying array
of things. As they said in the movie
Ghostbusters "Who're Ya Gonna
Call?" No matter what kind of
help you need, it's always best to
start your quest in the right place.
Financial Services Hotline
You may be deciding whether to
stay in the FRS Pension Plan or
transfer to the FRS Investment
Plan, or you may have already
made your election. Either way, the
State Board of Administration has
set up a toll-free hotline for you at
866/446-9377 to help you make the
best possible choice for your future
and to assist you with any financial
planning questions you may have.


:line

You will have six option>:
1. Workshops.
You can get
workshop
schedules and
locations and
sign up for a
workshop by
selecting "1".
2. Choice
Guidance.
Number "2" is
the one to select if you have
questions about plan choice.
3. FRS Pension Plan. Pick "3" if
you have specific questions about
the FRS Pension Plan.
4. Choice Kits. Select "4" if you
need a choice kit.


5. A lake a Choice. Select
"5" if you are
Ready to make
your choice, and
wish to do so by
phone. You will
-need your personal
identification
number or PIN to
make a choice, but
you can also obtain
your forgotten PIN
here. This is also
where you access your account.
6. Technical Problems. Choose
"6" if you have trouble logging in
or other problems with the
www.myFRS.com website, or if you
have other technical questions.


C o n tact UJs I When contacting the Division of Retirement, the following information
I should help you reach the right office:
F or more about the FRS Pension Bureau of Retirement Calculations
Plan, contact the appropriate For help with benefit estimates, retirement or DROP applications or
ru or s in o t Diii requirements, service credit purchases, and reemployment after retirement:
bureau or section of the Division j, Telephone.......................... .......................850/488-6491
of Retirement (see list at right). FAX ........................................ ....................... 850/410-2195
YlsI Email............................. ...................... Calculations@frs.state.fl.us
You may also send us your Disability Determination Section Bureau of Benefit Payments
questions or comments via the For questions concerning disability retirement and to report recovery from
"Contacting the Division" page on I disability and reemployment after disability retirement:
the Division's Internet website Telephone ............................................................ 850/488-2968
FAX ...................................................... 850/487-9474
(www.myflorida.com/frs). Many of Email .................................................. Disability@frs.state.fl.us
our forms are available online from Survivor Benefits Section Bureau of Benefit Payments
the Forms Page of the website or To report the death of an active member, retiree, beneficiary, or joint annuitant:
are available from your personnel I Telephone ................................................................. 850/488-5207
FAX ................................ ... ..................... 850/410-2197
office or from the relevant bureau I Email .............................. ..................... Survivor@frs.state.fl.us
of the Division. Enrollment Section Bureau of Enrollment & Contributions
W n yu w e to te D n, To request forms for change of beneficiary or joint annuitant or obtain
When you write to the Division, information relating to enrollment of members or agencies:
please include your full name, Telephone .................................. .............. 850/488-8837
printed and signed, your Social FAX ............................................... 850/410-2196
Security number, and your mailing Email .................................................. Enrollment@frs.state.fl.us
address and daytime telephone Retired Payroll Section Bureau of Benefit Payments
For general retiree questions or to report information relating to a retiree:
number. If you write on behalf of a I Telephone ............................................. .................. 850/488-4742
member, also include the member's I FAX .................................................... ................... 850/487-9474
name and Social Security number. Email ................. ....................... Retired@frs.state.fl.us
e Research & Education Section Administration
Address your correspondence to: I To obtain publications or inquire about legislative proposals:
Telephone ..................... ..... ..................... 850/488-5706
Division of Retirement I FAX ..................................... .................... 850/410-2069
2639 N. Monroe St., Bldg. C I Email ............................ .....................REP@frs.state.fl.us
Tallahassee, FL 32399-1560 If you have a hearing or speech impairment, you may call the Division via T.D.D.
alaassee, through the Florida Relay System at 866/357-3529.


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