Once employees have set a time frame for retirement, there are several steps which must be taken for the end of employment and distribution of benefits to go smoothly.
Deferred Retirement Option Program (DROP)
Employees in the Florida Retirement System Pension Plan are offered an alternative method for payment of retirement benefits for a specified and limited period for members of FRS, TRS and SCOERS. Under this program, you may retire and have your FRS benefits accumulate in the FRS Trust Fund, earning interest, while you continue to work for an FRS employer for up to 5 years. You are eligible to participate in the DROP when you are a participant of the Pension Plan, are vested, and have reached your normal retirement date.
Applying for Retirement
Faculty and staff should begin getting documentation in order approximately six months to one year prior to retirement. The following guides are designed to assist in this process.