Frequently Asked Questions

Here is a list of frequently asked questions we've received from our Florida Retirement System clients throughout the years.  If you have similar questions, call us today at 954-478-2217.  We will provide you with answers as it relates to your specific situation. . .

• Should I switch from the FRS Pension Plan into the FRS Investment Plan?
• How can I find out what my monthly pension will be now that I am close to retirement?
• If I die, will my beneficiaries receive a payment from my retirement account?
• What is the Deferred Retirement Option Program (DROP)?
• Should I go into DROP or should I stay in the FRS pension plan?
• How do I begin participation in DROP?
• I am filling out my retirement paperwork. Which benefit payout option should I choose?
• Should I take my vacation leave payout at the beginning of DROP or at the end of DROP?
• I am in DROP. Am I guaranteed continued employment, or can my employer force me to retire?
• I am a teacher. What happens if my DROP ends in the middle of the school year?
• What do I do if I want to retire before the end of my five years in DROP?
• What happens if I die while I am in DROP?
• When I retire from DROP, how do I get my DROP lump-sum?
• When I retire, how will the lump sum DROP benefits be taxed?
• Where can I roll my DROP so I don't pay taxes?
• Am I taxed twice if I elect a lump-sum distribution of my money?
• Can my Medicare premiums be deducted from my monthly pension benefits?
• I am retiring. Should I keep the State health insurance plan?
• I am under 65. Can you help me to find health insurance that is cheaper than the State plan?
• How do I file for the Health Insurance Subsidy?
• How do I file for the health insurance subsidy?
• Is it true there is no safe, risk-free investment fund in the FRS Investment Plan?
• Can you help me to select funds in my FRS Investment Plan?
• How do I take distributions from the FRS Investment Plan?
• Can I take an emergency/hardship withdrawal from my FRS Investment Plan?

Longshaw Financial Group is not affiliated with nor endorsed by the Florida Retirement System, the Florida Division of Retirement or the Florida State Board of Administration.