Choosing an FRS Retirement Plan

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Choosing an FRS Retirement Plan

• Your Organizations Name

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You Have an Important Choice to Make!
Pension Plan
Investment Plan
OR
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Comparing the Plans Plan Type and Vesting
FRS Pension Plan
FRS Investment Plan

• Traditional
• 8-year vesting

• More mobile
• 1-year vesting
• Takes time to grow

Vesting Ownership of your benefit or account
6 years with prior service
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Comparing the Plans Contributions
FRS Pension Plan
FRS Investment Plan

• Employer and employee
• Single pension trust fund
• Plan controls investments

• Employer and employee
• Individual, portable account
• You control investments

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Comparing the Plans Your Benefit
FRS Pension Plan
FRS Investment Plan

• Fixed formula
• Guaranteed for life
• DROP

• Contributions investment earnings
• You choose your distribution options
• No DROP

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Consider Your Length of Service
Stay with FRS employer for Consider
1 to 8 years The Investment Plan
9 or more years Best Plan many factors
16 years or 7 or more years if you have
Pension Plan service before July 1, 2011
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Your CHOICE Resources

• New Employee FRS Enrollment Kit
• MyFRS Financial Guidance Line
• MyFRS.com
• CHOICE SERVICE

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Personalized Benefit Comparison Statement

• PIN keep this number
• Compares projected benefits
• One set of assumptions
• Online CHOICE SERVICE
• Call for assistance

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MyFRS.com

• First time log in to ? PIN
• Create a personal login to access
• Decision-making information
• CHOICE SERVICE
• New Hire Roadmap and Video
• Summary Plan Descriptions
• Enroll online

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MyFRS Financial Guidance Line

• Toll-free
• Free financial planning assistance
• Choose a plan
• Personal financial planning
• Unbiased guidance
• Help you with MyFRS.com
• Ongoing assistance

1-866-446-9377
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More Than 5 Months to Decide
INVESTMENT PLAN OR PENSION PLAN?
New Employee FRS Enrollment Kit mailed to your
home
Reminder letters mailed to your home
Yourhire date
ENROLLMENTDEADLINE
MONTH OF HIRE
Orientation through your employer
400 p.m. ET on the last business day 5 months
after you are hired.
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How to Make Your Election

• Regular or Special Risk Class employee
• Online
• Call the MyFRS Financial Guidance Line
• Paper form
• Other Membership Class paper only
• EZ Enrollment Form
• Investment Plan default fund FRS Select
  Moderate Balanced Fund
• General Enrollment Form
• Investment Plan fund allocation

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Beneficiary Designation

• Make change online or submit a Beneficiary
  Designation form anytime
• Pension Plan ?BEN-001
• Investment Plan ?IPBEN-1
• Get form online or call
• Enrollment form default designation
• Florida Statutes
• Speak with a financial planner

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2nd Election

• One-time opportunity
• Choose wisely now
• Dont waste your 2nd Election

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Free Financial Planning Resources

• Investment Plan and Pension Plan members
• Ernst Young
• Free and unbiased help with
• Retirement planning
• Investment planning
• Estate planning
• Tuition planning
• Debt, spending, and credit issues

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Action Plan for Making Your Choice

• Review
• Call
• Log in to
• CHOICE SERVICE
• Take action and make an informed choice
• QUESTIONS?