|
Did you know...
Seminole State is just minutes from Walt Disney World, Universal Studios, Sea World and many other Central Florida attractions.
|
FRS Investment Plan | FRS Investment Plan: | Public Employee Optional Retirement Plan (PEORP) is a new defined contribution program. Participants are fully invested after one year of creditable service. The College pays all contributions. | | Type of Plan: | Defined contribution plan | | Eligibility: | Full-time and regular part-time employees are eligible. During your first five months of employment, you have the option to remain in the FRS-Regular Class or enroll in the FRS Investment Plan. | | Vesting: | You are vested after one year of creditable service. Pension plan service counts toward the one-year requirement. | | Employer Contributions: | The College pays all contributions toward your retirement plan. | | Benefit: | Your retirement benefit is based upon the benefit option you select and your annuity account balance, which is based on employer contributions, income and investment gains/losses, minus account expenses. | | Normal Retirement: | You must meet the vesting requirement. There may be tax implications if you retire prior to the year of your 55th birthday. | | Other Plan Features: | This retirement plan has a disability feature and health insurance subsidy. | | Selection of Investment Plans: | Information is available on the MyFRS Web portal or by calling the toll-free employee service number: 1.866.446.9377. |
Return to the top
|
