Florida Retirement System (FRS) Pension Plan

A defined benefit plan that pays vested participants a lifetime monthly benefit using a formula based on years of service, an average final compensation of the highest fiscal years of earnings, and a percentage value while working for an FRS-covered employer. Vested Pension Plan members who reach their normal retirement date may participate in the DROP.

Eligibility

• TEAMS
• USPS
• Faculty (Exception: Health Science Center Faculty are required to participate in the ORP)

Enrollment for New Employees

• Enrollment is automatic for USPS and TEAMS-U
• Enrollment form for Faculty and TEAMS-A

Contribution Rates

• Employer: 7.26% for Regular Class; 22.04% for Special Risk Class
• Mandatory Employee: 3.00% of biweekly earnings
• Voluntary Employee contributions are not permitted to this plan

Forms

• FRS Pension Plan Beneficiary Designation Form
• FRS Pension Plan Forms

Publications

• Summary Plan Description
• FRS Member Handbook
• FRS Disability Benefits
• FRS Survivor Benefits

Resources

• FRS Pension Plan Information
• FRS Online Services (benefit calculator, service history, etc.)
• Division of Retirement (DOR) Calculations: 1-844-377-1888
• MyFRS financial planners: (866) 446-9377
• Active Member’s Frequently Asked Questions

Loans/Hardship Withdrawals

• Loans and hardship withdrawals are not permitted.

Update my beneficiary

Complete the FRS Pension Plan Beneficiary Designation Form and fax it to the number on the form.

Ready to Retire?

Visit our Ready to Retire page for information.