FRS Investment Plan
The FRS Investment Plan is administered by the Florida State Board of Administration (FSBA). The Investment Plan is a defined contribution plan, in which employer and employee contributions are defined by law, but your ultimate benefit depends in part on the performance of your investment funds.
Unlike the Pension Plan, there is no fixed benefit level at retirement. The Investment Plan directs contributions to individual member accounts, and you allocate your contributions and account balance among various investment funds. Your Investment Plan retirement benefit is the value of your account at termination.
Information for the FRS Investment Plan
Contributions - Each pay period, based on Florida law, you contribute 3% of your gross salary, beginning with your first paycheck, to your Investment Plan account. You cannot change the amount you contribute. Your employer also contributes a fixed percentage of your gross salary to your account. The percentage is based on your membership class as required by law.
Investment Options - As the Investment Plan’s name implies, the money in your account is invested in stocks, bonds, and other types of financial instruments. With a variety of investment options available, the plan gives you as much or as little control over your investments as you like.