Public Employee Retirement Blog

Public Employee Retirement and Pension Blog

Public employee pensions are an essential part of retirement planning for many individuals who work in government jobs. Understanding the ins and outs of these plans can be complicated, as well as coordinating the pension with the other pieces of the retirement puzzle. In this blog, we'll dive into the basics of public employee pensions, including the different types of plans, their benefits, and potential risks.

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Why Is It Important For You To Know Your Benefits?

Your Retirement Benefits as a Florida State Employee

May 11, 20232 min read

As a state employee in Florida, it's important to understand your retirement benefits to plan for a financially secure future. In this article, we'll explain the retirement plan options available to Florida state employees and what benefits they offer.

Florida Retirement System (FRS):

The Florida Retirement System is a defined benefit plan available to eligible state employees, including teachers, law enforcement officers, and other public servants. The plan provides retirement, disability, and survivor benefits to its members. The benefits are funded by employee contributions and employer contributions.

How it works:

The FRS offers two plan options: the Pension Plan and the Investment Plan.

Pension Plan: Members of the Pension Plan are eligible to receive a monthly retirement benefit based on a formula that takes into account the member's years of service and salary history. The plan also offers survivor benefits to the member's spouse or designated beneficiary.

Investment Plan: Members of the Investment Plan can choose from a variety of investment options to help grow their retirement savings. Members are eligible to receive a lump sum distribution or a monthly annuity payment upon retirement.

Optional Retirement Plans (ORP):

In addition to the FRS, Florida state employees may have the option to participate in an Optional Retirement Plan. ORPs are defined contribution plans, which means the retirement benefit is based on the amount contributed and investment performance.

How it works:

ORPs are offered by select universities and state colleges in Florida. Employees who participate in an ORP make contributions to a retirement account and have the option to choose from a variety of investment options. Upon retirement, the employee can receive a lump sum distribution or a monthly annuity payment.


As a Florida state employee, it's important to understand your retirement benefits and choose a plan that meets your individual needs. If you have questions or need help choosing a retirement plan, consider scheduling a free consultation with a retirement planning professional to discuss your options.

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