Retirement Options

Valery Insurance Agency, Inc

They help Seniors understand their options regarding Health Insurance so they can make informed decisions. They can help answer your questions when transitioning to Medicare. Refer to the Valery Insurance Agency, Inc page for more information.

They offer no-cost “Educational Workshops” to pre-retirees and their Spouses to help you understand all of your insurance choices. 

Medicare

Getting started with Medicare. Find out how you can get Medicare, what’s offered, eligibility, and more by visiting  Medicare.gov.

Social Security

Social Security is part of the retirement plan for almost every American worker. It provides replacement Income for qualified retirees and their families. To better understand the program, visit Social Security Retirement Benefits.

USA.gov

Get the basics on retirement planning, such as how Social Security works, and tools to help you prepare for retirement. Refer to the USA.gov Retirement for more information.
 

Re-employment After Retirement

After an employee retires under the normal or early retirement provisions of the Florida Retirement System (FRS) Pension Plan, the member may work for a private employer, a Florida public employer not covered by the FRS or a public employer in another state or covered by another state's retirement system without affecting the member's retirement benefit.

The limitations on reemployment with participating FRS employers are as follows:

• If a member returns to work during the first six calendar months of retirement if they will not be considered to have retired. The member's retirement application will be void and all retirement benefits, including any funds accumulated during the Deferred Retirement Option Program (DROP) participation, must be repaid.
• A member may not receive both a salary and retirement benefits for 12 months after the effective retirement date. If the member works during the 7th through 12th months after the effective retirement date, the individual must inform the Division of Retirement. Retirement benefits will be suspended for the months employed during the 12-month period. Any retirement benefits received while working during the first 12 months after retiring must be repaid.
• If the employee is a DROP participant, the member is subject to the reemployment limitations as soon as DROP participation ends.
• There are no limits on working for an FRS employer after the member has been retired for 12 calendar months.
• If an employee retires under the FRS disability provisions, the member cannot be gainfully employed with any employer and continue to receive disability benefits.
  
  

Disability Guide

The FRS provides a disability provision for members of the FRS Pension Plan and FRS Investment Plan who become totally and permanently disabled and are unable to work. Refer to the disability guide  page for more information.

Second Election

The 2nd Election option gives all FRS members a one-time opportunity to switch retirement plans during their active FRS career. However, it is a complex subject with financial implications for the member who uses it. Members are advised to contact the myFRS financial guidance line at (866) 446-9377 or go online to the myFRS web page for assistance.

SHINE (Serving Health Insurance Needs of Elders)

Free program offered by the Florida Department of Elder Affairs and your local Area Agency on Aging. Specially trained volunteers can assist you with your Medicare, Medicaid, and health insurance questions by providing one-on-one counseling and information. SHINE services are free, unbiased, and confidential.
Refer to Florida SHINE for more information.