FAQs

(13010) Can I cancel a retirement plan election once it has been made?

The State Board of Administration of Florida (SBA) will consider, on a case-by-case whether the election will be voided, subject to the following requirements:


  • If you elected the FRS Investment Plan or FRS Hybrid Option - You must notify the SBA, Alight Solutions, EY, or the Division of Retirement by telephone, email, or written correspondence that you want to cancel your election no later than the last business day of the month following the election month. For example, if you make your election on March 13 you must notify one of the above entities that you want to cancel your election prior to the last business day of April.
  • If you actively elected the FRS Pension Plan - You must notify one of the above entities no later than the last business day of the month following the election month. Note that if you default into the FRS Pension Plan (i.e., do not make an active election) you cannot cancel this default election.

If your request to void the election is made timely and the SBA agrees the election will be voided, you will be required to sign a release and return it to the SBA prior to the election being officially voided. You will acknowledge in the release that failure to return a signed release by the requested due date will result in the original election's being reinstated. You will have until your choice period deadline date to make a new election. If your choice period has ended, you will have one calendar month to make a new election. Failure to make a new election will result in your defaulting into the Pension Plan. Note: If you had elected the FRS Investment Plan or the FRS Hybrid Option and decided to remain in the FRS Pension Plan, there is no need to make another election because you are already in the FRS Pension Plan, your election to the FRS Investment Plan or the FRS Hybrid Option having been voided.

(2049) Should an employee filling a regularly established position be enrolled on the first day of employment or after the probationary period?

An employee filling a regularly established position shall be enrolled on the first day of employment, even if the employee is serving a probationary period.

(2113) Can we choose between the two retirement plans every year, like we can for annual health care plan enrollment?

No. You will have one opportunity to choose between the two plans during your choice period. After your choice period, you may exercise a second and final opportunity to change your plan at any time during your active FRS career.

(2302) If I elect to join the Investment Plan, what will be my effective date in the new plan?

As a new employee, you have a choice of two FRS retirement plans: the Investment Plan and the Pension Plan. Enrollment in the Investment Plan will be retroactive to your date of hire. The Investment Plan effective date will be established as the first of the month following the month in which the enrollment form is received or the online enrollment is processed by the Plan Choice Administrator. From your date of hire until the effective date, employee and employer contributions will be paid into your Investment Plan account at the blended contribution rate. From your effective date forward, contributions will be paid into your Investment Plan account at the Investment Plan contribution rate in effect at the time the contributions are made.

If your date of hire is prior to January 1, 2018, your enrollment period will end at 4:00 p.m. Eastern Time, on the last business day of the fifth month following your month of hire. If your date of hire is on or after January 1, 2018, your enrollment period will end at 4:00 p.m. Eastern Time, on the last business day of the eighth month following your month of hire. Your initial election will be considered your initial choice or first election. If your date of hire is prior to January 1, 2018 and you do not make an active plan election, you will be automatically enrolled in the Pension Plan; this automatic enrollment (or default) is considered your initial choice or first election. If your date of hire is on or after January 1, 2018 and you do not make an active plan election, you will be automatically enrolled as follows; this automatic enrollment (or default) is considered your initial choice or first election.

Membership ClassPlan Default
Special Risk ClassPension Plan
All classes (except Special Risk Class)Investment Plan

(2037) Are all employees eligible to be enrolled in the FRS?

No. Only an employee who is filling a full-time or part-time regularly established position is eligible to be enrolled in the FRS. A regularly established position in a non-state agency is an employment position which will be in existence beyond 6 consecutive calendar months. A regularly established position in a state agency (including state universities) is a position authorized pursuant to s. 216.262(1)(a) and (b), F.S., and is compensated from either a salaries appropriation as provided in s. 216.011(1)(z)1. and 2., F.S., or a salaries account as provided in rule 3A-10.031, F.A.C.

(2221) If I'm employed part time, how does this affect my benefit accrual under both plans?

Part-time employees accrue years of creditable service the same as full-time employees. However, because of your lower salary, you would receive lower contributions in the Investment Plan.

(2214) Can I join DROP if I choose the Investment Plan hybrid option?

No. A member who chooses the hybrid option is considered an Investment Plan member and not eligible to join DROP.

(2043) Can an employee be reported under more than one retirement plan in the same month?

No. The only time an employee can be reported under two different plans in the same month is during the first month they enter DROP or if they change employers.

(2103) Is there any chance that the Pension Plan will be eliminated in the future, to save money?

The legislation creating the Investment Plan said that the Pension Plan should remain an option. No one can predict what changes future legislation may bring or the future popularity of the Pension Plan among employees. However, the FRS wants to offer flexible and innovative retirement plan solutions to its employees. If cost were the only issue, the State Legislature and the Governor would not have retained the current Pension Plan. Nor would they have allowed employees a second chance to switch back to the Pension Plan at any time during their FRS career.

(162) Can I receive a loan or hardship withdrawal of my employee contributions?

No.

(2042) The retirement rate changed effective July 1. The first check paid in July is for time that was worked in June. Do I report this salary under the rate effective July 1 or the previous rate?

All salary paid on or after July 1 should be paid at the retirement rate in effect July 1.

(2084) Will I have to pay income tax on my disability benefits?

We recommend that you contact your local Internal Revenue Service office or call the toll-free number (800) 829-1040 for tax information on disability income.

(2052) What if the contributions are submitted late?

Contributions not received by the due date will be charged a one percent (1%) per month delinquent assessment