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 […]
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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
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 […]
What happens if I go back to work after my ...
Who is eligible to participate in DROP? All vested members of the FRS Pension Plan, Teachers’ Retirement System (TRS), or State and County Officers’ and Employees’ Retirement System (SCOERS) who have reached normal retirement age or date, provided election to participate is made within the appropriate time periods as described […]
Are you eligible for DROP?
Have you thought about using your IRA to pay that tuition bill? The rules can be complicated. Here are 10 things you will want to know: 1. If you take a taxable distribution from your IRA before you reach age 59 ½, you will be subject to an additional 10% […]