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Built to Improve Outcomes

The DROPBASICS Retirement Planning Program was designed by career retirement plan service professionals to improve outcomes of participants in the Florida Deferred Retirement Option Program (DROP). The technology infrastructure provides a fully responsive experience, so users can access tools on any devices. Our intuitive user interface and core features enable users to easy access to information without the confusing and unnecessary bells and whistles of other websites.

Dashboard

The DROPBASICS Dashboard provides a simple wizard designed to allow users to quickly determine their retirement needs and steps to achieve them.

Review Choices

Our intuitive interface enables DROPBASICS users to change variables like retirement date, savings rate, or rate of return to review various scenarios.

Best of all, DROPBASICS offers personalized help for users who would like to speak to an advisor.

FLORIDA DEFERRED RETIREMENT OPTION PROGRAM (DROP)

The Florida Deferred Retirement Option Program (DROP) provides eligible Florida Retirement System (FRS) Pension Plan members with an alternative method for payment of their retirement benefits for a specified and limited period. Under this program, participants stop earning service credit toward a future benefit and their retirement benefit is calculated at the time DROP participation begins.

  • Take inventory of your assets

  • Determine your retirement needs

  • Establish your financial plan

FREQUENTLY ASKED QUESTIONS

All vested members of the FRS Pension Plan, Teachers’ Retirement System (TRS), or State and County Officers’ and Employees’ Retirement System (SCOERS) who have reached normal retirement age or date, provided election to participate is made within the appropriate time periods as described below.

You can begin DROP when you are vested and have reached your normal retirement date.

You may participate for a maximum of 60 months if you begin DROP participation when you first reach your normal retirement date or your maximum deferral date. If you initially elect to participate in DROP for less than the maximum 60 months allowable, you may extend your DROP participation up to the 60-month maximum if approved by your employer.

Your DROP retirement is final on the last day of the effective month your DROP participation began as long as all your necessary paperwork has been submitted and approved. Once your DROP retirement is final you cannot add service credit, change options, change your type of retirement, elect Investment Plan membership, or cancel your DROP retirement.

One of the most important decisions you will have to make is whether you should join DROP or remain in the FRS. Drop Basics can help with this decision, our calculators can provide estimates of what you might need for retirement. Also our financial professionals can work with you to review your total financial situation, including FRS and/or DROP benefits, personal investments, and Social Security benefits, to determine which choice will be the best decision for your future.

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