YOUR FLORIDA RETIREMENT SYSTEM BENEFITS
As an FRS participant, you have access to special opportunities.
If your career goes through the FRS, we offer full support and information to help you make important decisions, from initial planning and supplements to setting up a 403(b) account. We’re ready to help.
Who We Help
We are proud to serve the people who serve our Florida communities every day. Our FRS services are tailored specifically for:
TEACHERS
POLICE OFFICERS
FIREFIGHTERS
SHERIFFS
KNOW YOUR OPTIONS – MAKE CONFIDENT CHOICES
Whether you are new to the FRS or nearing the end of your career, clarity on your plan is essential. We help you examine every path available.
PENSION PLAN VS. INVESTMENT PLAN
One of the primary choices FRS participants make is between the Pension Plan and the Investment Plan. Each offers different structures:
- Pension Plan: This defined benefit plan provides a guaranteed monthly benefit based on a formula. It considers your years of service, age and salary.
- Investment Plan: This defined contribution plan offers greater control over your assets. Your benefit depends on the amount you and your employer contribute and how your chosen investments perform.
Selecting the right plan involves evaluating your career stage, risk tolerance and timeline.
DROP – Deferred Retirement Option Program
For those in the Pension Plan, the DROP program offers a way to accumulate additional funds while continuing to work. This program allows you to effectively retire under the FRS Pension Plan while delaying your termination of employment. During this period, your monthly retirement benefits accrue in the FRS Trust Fund and earn interest. We help eligible participants understand:
- Ways to time your entry into DROP for optimal results
- Strategies for investing your DROP accumulation
- Options for managing your lump sum distribution
SDBA – Self-Directed Brokerage Account
If you’re enrolled in the Investment Plan, you have an extra choice beyond the standard 20 funds offered by the State of Florida. The SDBA is an investment window within the Investment Plan, meaning your funds always remain in your FRS Account.
- Access to experienced portfolio managers such as American Funds, BlackRock, PIMCO, and others
- Enhanced flexibility to make more comprehensive and informed investment decisions
SETTING UP A 403(b) ACCOUNT
Your FRS benefits are a strong foundation, but many participants choose to supplement their retirement income through a 403(b) account. We assist clients in setting up these accounts directly through Fidelity.
Important Note: Setting up your 403(b) account through Fidelity requires a specific product number. You cannot complete the setup process without this identifier, even if you wish to manage the account yourself. We can provide this product number and walk you through the enrollment process. Our goal is to remove the administrative hurdles so you can focus on saving for your future.
WE’RE HERE TO SIMPLIFY THE PROCESS
You do not have to navigate the Florida Retirement System alone. If you have questions at any stage of your career with FRS benefits, please reach out to us.
We are here to answer your questions and provide the support you need to anchor your financial future with confidence.
Investment Advisory Services offered through Spyrnal Wealth Management, LLC. Insurance products and services are offered through Spyrnal & Associates, Inc. Spyrnal Wealth Management and Spyrnal & Associates do business collectively as Spyrnal Financial Group, DBA. Securities investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.