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Choosing an FRS Retirement Plan Choosing an FRS Retirement Plan
[Your Organization’s Name][Your Organization’s Name]
MyFRS Financial Guidance Line at 1-866-446-9377
2
You Have an Important Choice to Make!You Have an Important Choice to Make!
ORInvestment Plan Pension Plan
MyFRS Financial Guidance Line at 1-866-446-9377
3
Comparing the Plans – Plan Type and Vesting
Comparing the Plans – Plan Type and Vesting
• Traditional Traditional • 8-year vesting*8-year vesting*
• Traditional Traditional • 8-year vesting*8-year vesting*
FRS Pension Plan
Vesting = Ownership of your benefit or account
* 6 years with prior service
FRS Investment Plan
• More mobileMore mobile• 1-year vesting1-year vesting• Takes time to growTakes time to grow
• More mobileMore mobile• 1-year vesting1-year vesting• Takes time to growTakes time to grow
MyFRS Financial Guidance Line at 1-866-446-9377
FRS Pension PlanFRS Investment Plan
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Comparing the Plans – ContributionsComparing the Plans – Contributions
• Employer and Employer and employeeemployee
• Single pension trust Single pension trust fundfund
• Plan controls Plan controls investmentsinvestments
• Employer and Employer and employeeemployee
• Single pension trust Single pension trust fundfund
• Plan controls Plan controls investmentsinvestments
• Employer and Employer and employeeemployee
• Individual, Individual, portable accountportable account
• You control You control investmentsinvestments
• Employer and Employer and employeeemployee
• Individual, Individual, portable accountportable account
• You control You control investmentsinvestments
MyFRS Financial Guidance Line at 1-866-446-9377
Comparing the Plans – Your BenefitComparing the Plans – Your Benefit
FRS Pension PlanFRS Investment Plan
• Fixed formulaFixed formula• Guaranteed for lifeGuaranteed for life• DROPDROP
• Fixed formulaFixed formula• Guaranteed for lifeGuaranteed for life• DROPDROP
• Contributions + Contributions + investment earningsinvestment earnings
• You choose your You choose your distribution optionsdistribution options
• No DROPNo DROP
• Contributions + Contributions + investment earningsinvestment earnings
• You choose your You choose your distribution optionsdistribution options
• No DROPNo DROP
5
MyFRS Financial Guidance Line at 1-866-446-9377
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Consider Your Length of ServiceConsider Your Length of Service
Stay with FRS employer for:Stay with FRS employer for: Consider:Consider:
1 to 8 years1 to 8 years** The Investment Plan The Investment Plan
9 or more years9 or more years** Best Plan = many factorsBest Plan = many factors
* 1–6 years or 7 or more years if you have Pension Plan service before July 1, 2011
MyFRS Financial Guidance Line at 1-866-446-9377
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• New Employee FRS New Employee FRS Enrollment KitEnrollment Kit
• MyFRS Financial MyFRS Financial Guidance LineGuidance Line
• MyFRS.comMyFRS.com• CHOICE SERVICECHOICE SERVICE
• New Employee FRS New Employee FRS Enrollment KitEnrollment Kit
• MyFRS Financial MyFRS Financial Guidance LineGuidance Line
• MyFRS.comMyFRS.com• CHOICE SERVICECHOICE SERVICE
Your CHOICE ResourcesYour CHOICE Resources
MyFRS Financial Guidance Line at 1-866-446-9377
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Personalized Benefit Comparison StatementPersonalized Benefit Comparison Statement
• PIN – keep this number PIN – keep this number • Compares projected benefitsCompares projected benefits• One set of assumptionsOne set of assumptions• Online CHOICE SERVICEOnline CHOICE SERVICE• Call for assistanceCall for assistance
• PIN – keep this number PIN – keep this number • Compares projected benefitsCompares projected benefits• One set of assumptionsOne set of assumptions• Online CHOICE SERVICEOnline CHOICE SERVICE• Call for assistanceCall for assistance
MyFRS Financial Guidance Line at 1-866-446-9377
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MyFRS.comMyFRS.com
• First time log in to First time log in to PIN PIN• Create a personal login to access Create a personal login to access
• Decision-making informationDecision-making information• CHOICE SERVICECHOICE SERVICE• New Hire Roadmap and VideoNew Hire Roadmap and Video• Summary Plan DescriptionsSummary Plan Descriptions
• Enroll onlineEnroll online
• First time log in to First time log in to PIN PIN• Create a personal login to access Create a personal login to access
• Decision-making informationDecision-making information• CHOICE SERVICECHOICE SERVICE• New Hire Roadmap and VideoNew Hire Roadmap and Video• Summary Plan DescriptionsSummary Plan Descriptions
• Enroll onlineEnroll online
MyFRS Financial Guidance Line at 1-866-446-9377
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MyFRS Financial Guidance LineMyFRS Financial Guidance Line
• Toll-free Toll-free • Free financial planning assistanceFree financial planning assistance
• Choose a planChoose a plan• Personal financial planningPersonal financial planning• Unbiased guidanceUnbiased guidance• Help you with MyFRS.comHelp you with MyFRS.com
• Ongoing assistanceOngoing assistance
• Toll-free Toll-free • Free financial planning assistanceFree financial planning assistance
• Choose a planChoose a plan• Personal financial planningPersonal financial planning• Unbiased guidanceUnbiased guidance• Help you with MyFRS.comHelp you with MyFRS.com
• Ongoing assistanceOngoing assistance
1-866-446-9377
Keep Your PIN
MyFRS Financial Guidance Line at 1-866-446-9377
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4:00 p.m. ET on the last business day 5 months after you are hired.
INVESTMENT PLAN
OR
PENSION PLAN?
More Than 5 Months to DecideMore Than 5 Months to Decide
11 22 33 44 55
“New Employee FRS Enrollment
Kit” mailed to your home
Reminder letters mailed to your
home
MONTH OF HIRE
ENROLLMENTDEADLINE
Yourhire date
Orientation through your
employer
MyFRS Financial Guidance Line at 1-866-446-9377
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How to Make Your ElectionHow to Make Your Election
• Regular or Special Risk Class employee Regular or Special Risk Class employee • OnlineOnline• Call the MyFRS Financial Guidance LineCall the MyFRS Financial Guidance Line• Paper formPaper form
• Other Membership Class – paper onlyOther Membership Class – paper only• EZ Enrollment FormEZ Enrollment Form
• Investment Plan default fund – FRS Select Investment Plan default fund – FRS Select Moderate Balanced Fund Moderate Balanced Fund
• General Enrollment FormGeneral Enrollment Form• Investment Plan fund allocationInvestment Plan fund allocation
• Regular or Special Risk Class employee Regular or Special Risk Class employee • OnlineOnline• Call the MyFRS Financial Guidance LineCall the MyFRS Financial Guidance Line• Paper formPaper form
• Other Membership Class – paper onlyOther Membership Class – paper only• EZ Enrollment FormEZ Enrollment Form
• Investment Plan default fund – FRS Select Investment Plan default fund – FRS Select Moderate Balanced Fund Moderate Balanced Fund
• General Enrollment FormGeneral Enrollment Form• Investment Plan fund allocationInvestment Plan fund allocation
MyFRS Financial Guidance Line at 1-866-446-9377
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Beneficiary DesignationBeneficiary Designation
• Make change online or submit a Beneficiary Make change online or submit a Beneficiary Designation form anytimeDesignation form anytime• Pension Plan Pension Plan BEN-001BEN-001• Investment Plan Investment Plan IPBEN-1IPBEN-1
• Get form online or callGet form online or call• Enrollment form default designationEnrollment form default designation
• Florida StatutesFlorida Statutes
• Speak with a financial plannerSpeak with a financial planner
• Make change online or submit a Beneficiary Make change online or submit a Beneficiary Designation form anytimeDesignation form anytime• Pension Plan Pension Plan BEN-001BEN-001• Investment Plan Investment Plan IPBEN-1IPBEN-1
• Get form online or callGet form online or call• Enrollment form default designationEnrollment form default designation
• Florida StatutesFlorida Statutes
• Speak with a financial plannerSpeak with a financial planner
MyFRS Financial Guidance Line at 1-866-446-9377
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2nd Election2nd Election
• One-time opportunityOne-time opportunity• Choose wisely nowChoose wisely now• Don’t waste your 2Don’t waste your 2ndnd Election Election
• One-time opportunityOne-time opportunity• Choose wisely nowChoose wisely now• Don’t waste your 2Don’t waste your 2ndnd Election Election
MyFRS Financial Guidance Line at 1-866-446-9377
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Free Financial Planning ResourcesFree Financial Planning Resources
• Investment Plan Investment Plan and and Pension Plan membersPension Plan members• Ernst & YoungErnst & Young• Free and unbiased help with:Free and unbiased help with:
• Retirement planningRetirement planning• Investment planningInvestment planning• Estate planningEstate planning• Tuition planningTuition planning• Debt, spending, and credit issuesDebt, spending, and credit issues
• Investment Plan Investment Plan and and Pension Plan membersPension Plan members• Ernst & YoungErnst & Young• Free and unbiased help with:Free and unbiased help with:
• Retirement planningRetirement planning• Investment planningInvestment planning• Estate planningEstate planning• Tuition planningTuition planning• Debt, spending, and credit issuesDebt, spending, and credit issues
MyFRS Financial Guidance Line at 1-866-446-9377
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Action Plan for Making Your ChoiceAction Plan for Making Your Choice
• ReviewReview• CallCall• Log in toLog in to
• CHOICE SERVICECHOICE SERVICE
• Take action and make an Take action and make an informed choice informed choice
• QUESTIONS?QUESTIONS?
• ReviewReview• CallCall• Log in toLog in to
• CHOICE SERVICECHOICE SERVICE
• Take action and make an Take action and make an informed choice informed choice
• QUESTIONS?QUESTIONS?