If you are retiring before age 65, you will most likely stay on your county or state plan. The cost can be more than $670 per month for an individual and $1,770 per month for a family. You need to check with your Human Resource Department to get an estimated […]
Dropadvisorycouncil
By Keith W. Young, DROP Advisory Council Chairman Retiring from FRS can be complicated and stressful. The paperwork can be overwhelming. There many decisions you will need to make before retiring including, “What to do with your DROP money? When should you take Social Security? How do you invest and […]
Your Retirement Checklist
By Keith W. Young, Chairman, DROP Advisory Council The year 2018 was the worst year for stocks since 2008. If you retired last year and invested your funds in the market, how did your money fare? The Dow fell 5.6%. The S&P 500 was down 6.2% and the Nasdaq fell […]
How to protect your DROP money in a volatile market?
When you become eligible to receive your retirement benefit, you can choose from several payment options available to you. FRS Pension Plan FRS Investment Plan There are four payment options: Option 1 is a single life annuity option, which provides a monthly benefit to you for your lifetime. When you die, […]
FRS Payment Options
Deferred Retirement Option Program participants are considered to be retired even though they continue to work for a specified period of time. Once you terminate from DROP, you have fully retired and subject to termination requirements and reemployment restrictions with FRS participating employers. After you retire under the FRS, you […]