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Florida Retirement System
An Overview of the Florida Retirement System

Employees filling a "Regularly Established" position are automatically members of the Florida Retirement System (FRS). The FRS allows you to choose from one of two retirement plans: The FRS Pension Plan or the FRS Investment Plan. Additionally, the FRS offers free and personalized educational resources to help you understand your options and prepare for retirement. New employees must choose their FRS plan by the end of the fifth month following their month of hire.

Additional Resources:
   Comparing the Plans document
   FRS Brochure as of 7-1-11



About the FRS Pension Plan

The FRS Pension Plan is a traditional defined benefit program designed for longer-term employees who will be with the FRS for most of their career. It pays you a guaranteed monthly retirement benefit based on salary and years of service when you retire. You qualify for a benefit (i.e., are vested) in the Pension Plan after completing 8 years of creditable service with an FRS employer.


About the FRS Investment Plan

The FRS Investment Plan is a defined contribution program designed for employees who may leave the FRS before retirement. Your benefit is based on how much money is contributed into your account and how well that money grows over time. Most members get 9% of their salary deposited into their account each month. You qualify for a benefit (i.e., are vested) after completing 1 year of creditable service with an FRS employer. Your account is portable and you decide how much risk to take by allocating your account balance among investment funds.


What if I Have Questions?
The FRS offers free help to assist you with your FRS plan choice, the management of your retirement account and general financial planning questions. You can call the MyFRS Financial Guidance Line toll free at 1-866-44-MyFRS (1-866-446-9377; TTY: 1-888-429-2160) 9 a.m. to 8 p.m. ET, Mon.- Fri. (except holidays) to speak with experienced financial planners at no cost to you. You can also use the personalized online Choice Services and Advisor Services available at www.myfrs.com.


City of DeFuniak Springs • 71 US Hwy 90 West• DeFuniak Springs, FL 32433• 850-892-8500•
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