College of Central Florida
The Deferred Retirement Option Program (DROP) provides you with an alternative method for payment of your retirement benefits for a specified and limited period if you are an eligible Florida Retirement System (FRS) Pension Plan member. Under this program, you stop earning service credit toward a future benefit and your retirement benefit is calculated at the time your DROP participation begins. While you are in the DROP, your monthly retirement benefits accumulate in the FRS Trust Fund earning interest while you continue to work for an FRS employer. Upon termination, your DROP account is paid to you as a lump sum payment, a rollover or a combination partial lump sum payment and rollover. Monthly benefits are paid to you in the amount as calculated upon entry into DROP, plus any applicable cost-of-living adjustments for intervening years. For more information, see the latest version of the DROP guide ().
The DROP Forms page provides access to forms available to DROP participants.
The following documents provide additional information about DROP:
To be vested means that you have met the service requirements to be eligible to receive a future FRS retirement benefit.
Once you are vested, you are eligible for a future benefit when you terminate employment with all participating FRS employers and apply for your retirement benefit.
Log into FRS Online at frs.fl.gov. Links are also available from other pages on the website. To view information about your account or perform estimates, you must log into your FRS Online account and follow the instructions provided.
For a formal request, please contact the Division of Retirement at 1-866-446-9377 (TRS 711).
If you work until your original Deferred Retirement Option Program (DROP) termination date, the Division of Retirement will mail you your DROP Termination Packet approximately 90 days prior to your last day of employment. If your employment ends before your original DROP termination date, it is important that either you or your employer contact the Division of Retirement as soon as possible so you can receive your DROP Termination Packet in a timely manner. The Division of Retirement can be contacted via phone, mail, fax, or email to report your new DROP termination date.
Toll-free Phone: 844-377-1888
Local Phone: 850-907-6500
T.T.D. Phone: 800-955-8771
Fax: 850-410-2010
Email: retirement@dms.myflorida.com