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Support staff employees are eligible to participate in the Florida Retirement System (FRS) Pension Plan or FRS Investment Plan. Full or part-time Faculty, Administrative and Professional (A&P), University President, and Executive Service are eligible to participate in the FRS Pension Plan, FRS Investment Plan, or the Optional Retirement Plan (ORP).

FRS Pension Plan: Six or eight years of service, depending on the initial enrollment.

FRS Investment Plan: One year of service.

ORP: Immediately.

You have eight months from your hire date to enroll in the FRS Pension Plan. If you do not choose a retirement plan before the enrollment deadline, you will default to the FRS Investment Plan. Special Risk Class Members will automatically default to the FRS Pension Plan.

You have eight months from your hire date to enroll in an FRS Investment Plan. If you do not choose a retirement plan before the enrollment deadline, you will default to the FRS Investment Plan. Special Risk Class Members will automatically default to the FRS Pension Plan.

You have 90 days from your hire date to enroll in the SUSORP Plan. If you do not enroll in the SUSORP within 90 days, the SUSORP will no longer be a retirement plan option. You will have five additional months to enroll in the FRS Pension Plan or FRS Investment Plan. If you do not choose by 4:00 p.m. on the last business day eight months after the month of hire, you will default to the FRS Investment Plan.

As a Florida Retirement System (FRS) member, you have a one-time opportunity to change from your current FRS retirement plan to the other. Making this change is called a 2nd Election. This change allows you to transfer from the Pension Plan to the Investment Plan or the Investment Plan to the Pension Plan. To make this change requires that you are actively employed in an FRS-covered position, earning salary and service credit, the month you make a 2nd Election. Depending on which plan you’re changing to, there could be an out-of-pocket cost to you. Once your 2nd Election is final, you must remain in the retirement plan you changed to until your FRS-covered employment ends and you retire.

To change from the FRS Investment Plan to the SUSORP Plan, you must use your 2nd election to switch to the FRS Pension Plan and then elect the ORP plan within 90 days of your new position hire date. To change to the Pension Plan, you have to “buy-in” using your Investment Plan balance and possibly your own money from another source. To discuss this option, please contact the Division of Retirement and discuss if this is the right decision for you. You may reach the Division at 1-866-446-9377 (toll-free), Option 1 (TRS 711).

You will contribute a mandatory 3% pretax contribution that is deducted from your paycheck each pay period.

You cannot make additional pretax contributions above the 3% mandatory contribution. The University will contribute a fixed percentage of your gross salary per pay period. Also, the University will contribute amounts each month to fund the Health Insurance Subsidy benefit (1.66%), plan administrative and educational expenses (0.06%), and unfunded actuarial liability funding as required by law.

Contribution rates are set by the Florida Legislature each year and are subject to change.

You will contribute a mandatory 3% pretax contribution that is deducted from your paycheck each pay period.

You cannot make additional pretax contributions above the 3% mandatory contribution.

The University will contribute an amount equal to 3.3% of your gross salary. Employer rates vary by membership class.

Contribution rates are set by the Florida Legislature each year and are subject to change.

You will contribute a mandatory 3% pretax contribution that is deducted from your paycheck each pay period. Additional voluntary pretax contributions of up to 5.14% can be deducted from your gross paycheck per pay period and contributed to your ORP plan. Voluntary pretax contributions can begin, stop, and change at any time. The University will contribute 5.14% of your gross salary per pay period.

Contribution rates are set by the Florida Legislature each year and are subject to change.

The FRS Pension Plan's main difference between the FRS Investment and SUSORP Plans is that the FRS Pension Plan is a guaranteed retirement benefit.  Using a formula, your age, FRS membership class, years of FRS-covered service, and an average of your eight highest years of salary determines the final monthly retirement benefit you will receive. You will receive this retirement benefit for life. The FRS Investment and SUSORP Plans are defined contribution retirement plans, and your final retirement benefit depends on your account balance and the returns earned on contributions.