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The Health Insurance Subsidy (HIS) is a subsidy payment to retired members or a qualified beneficiary to assist in the payment of health insurance cost. Eligible retirees or beneficiaries will receive $5 per month for each year of service credit earned. The payment is at least $30 but not more […]

Health Insurance Subsidy

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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

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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 ...

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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?

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