Retirement
Overview
The ±«Óãtv provides employees the opportunity to participate in different retirement and savings programs. This section offers in-depth resources to help you learn about the retirement programs available or assist in the retirement process. For information about the plans, click the appropriate link that corresponds to your job type.
Retirement Options for Faculty and Administration
All Faculty and Administration employees are required to participate in one of three retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include 403(b) plans and 457 deferred compensation plans.
State Retirement Plans
Faculty and Administration employees may participate in one of the three Florida Retirement System (FRS) retirement plans: the FRS Pension Plan, FRS Investment Plan or State University System Optional Retirement Program (ORP/SUSORP). You can find information on key differences between the plans on the . You only have a short time to decide. View more information about deadlines.
Note: College of Medicine faculty must participate in SUSORP.
- Florida Retirement System Pension Plan (FRS)
- DROP - Deferred Retirement Option Program
- Phased Retirement Program
- FRS Investment Plan
- Optional Retirement Program (ORP/SUSORP)
Voluntary Plans
Voluntary 403(b) Savings plans and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.
Retirement Options for Staff
All Staff employees are required to participate in one of two retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include 403(b) and 457 deferred compensation plans.
State Retirement Plans
Staff employees participate in one of two Florida Retirement System (FRS) retirement plans: the FRS Pension Plan or the FRS Investment Plan. New employees will automatically default into the FRS Investment Plan unless they enroll in the FRS Pension Plan within their required enrollment period. Special Risk Class members will automatically default into the FRS Pension Plan unless they enroll in the FRS Investment Plan within their required enrollment period.
You only have a short time to decide. Your FRS plan choice must be made by 4:00 p.m. ET on the last business day of the 8th month following your month of hire.
Information about the FRS Pension Plan and FRS Investment Plan (including tools and videos to help you make your plan choice) can be found at the .
Ready to choose your FRS plan? Visit the and click on the ENROLL NOW button at the top of the page.
Additional information:
- Florida Retirement System Pension Plan
- DROP - Deferred Retirement Option Program
- Florida Retirement System Investment Plan
Voluntary Plans
Voluntary 403(b) Savings plans and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.
Retirement Options for Temporary Employees
The ±«Óãtv offers both a qualified retirement plan for part-time, seasonal and Temporary employees not covered by the Florida Retirement System, as well as the opportunity to participate in a Voluntary Plan; Voluntary 403(b) Savings Plan and/or 457 Deferred Compensation Plan. Temporary employees are automatically enrolled in the Temporary Employee Retirement Plan (TERP) upon employment. For information about the plans, click the appropriate links below.
±«Óãtv Retirement Plan
Voluntary Plans
FRS Financial Planning Online Workshops
-- Various webinars on enrolling into retirement plans, understanding retirement plans, and planning for retirement. Click on the link above to register.
Click to view recorded workshops available.
Retirement Readiness and Resources
We understand that the transition into retirement is a significant event which, at times, can be emotional and challenging. To help you on this important and exciting transition into your new journey, we have developed a guide.
CAPTRUST FINANCIAL FREE ADVISING
The ±«Óãtv is now offering free financial advice through CAPTRUST. This is available to all employees.
CAPTRUST is an independent investment advisory firm that provides investment advice to ±«Óãtv’s retirement plan committee and plan participants. Employees who need help navigating their retirement benefits and other financial priorities (e.g. budgeting, debt, credit, college savings) can rely on CAPTRUST’s participant advice program. CAPTRUST has been helping individual participants like you for over 25 years, by providing personalized advice. To learn more about the firm, register for the webinar at the link listed below or visit .
- Request an individual appointment at your convenience .