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Old 01-29-2011, 10:32 PM
 
Location: Ohio/Sarasota
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Does anyone know anything about Florida teacher retirement? Maybe a website that explains everything.
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Old 01-30-2011, 06:38 AM
 
Location: Space Coast
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This is the web page for Florida's retirement system, which is what is used for teachers: http://myfrs.com
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Old 01-30-2011, 07:16 AM
 
Location: Ohio/Sarasota
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Quote:
Originally Posted by Eresh View Post
This is the web page for Florida's retirement system, which is what is used for teachers: http://myfrs.com

I found that site before. I see that it includes teachers, as well as others. I also see there are two plans, a defined and investment plan. What I do not see more info on the defined plan. In most states teacher retirement is a certain percentage of the final three or five years of salary. Is that the case in Florida? How many years to receive full benefits? What are the penalties for retiring early? I do not see any of that on this website.
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Old 01-30-2011, 11:09 AM
 
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Quote:
Originally Posted by davery5872 View Post
I found that site before. I see that it includes teachers, as well as others. I also see there are two plans, a defined and investment plan. What I do not see more info on the defined plan. In most states teacher retirement is a certain percentage of the final three or five years of salary. Is that the case in Florida? How many years to receive full benefits? What are the penalties for retiring early? I do not see any of that on this website.
You will probably have to contact them directly to get that information. Often you won't find the specifics just listed on the website. Are you a teacher in Florida?
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Old 01-30-2011, 01:43 PM
 
Location: Ohio/Sarasota
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Quote:
Originally Posted by golfgal View Post
You will probably have to contact them directly to get that information. Often you won't find the specifics just listed on the website. Are you a teacher in Florida?

I'm a teacher, but not in Florida.
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Old 01-30-2011, 03:09 PM
 
Location: Space Coast
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It's been a few years since I was in the FRS, so this is just what I recall off the top of my head. With the investment plan, it a shorter amount of time to be vested (I forget exactly what - maybe only a year or 2), and with the other plan it takes 7 years. The investment plan will supposedly yield a better gain if you don't plan to remain the in FRS beyond a few years. Either way, you have to put in 30 years in order to gain full retirement benefits. They use the last 5 years salary to determine benefits.
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Old 01-30-2011, 05:51 PM
 
Location: Ohio/Sarasota
913 posts, read 2,209,268 times
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Quote:
Originally Posted by Eresh View Post
It's been a few years since I was in the FRS, so this is just what I recall off the top of my head. With the investment plan, it a shorter amount of time to be vested (I forget exactly what - maybe only a year or 2), and with the other plan it takes 7 years. The investment plan will supposedly yield a better gain if you don't plan to remain the in FRS beyond a few years. Either way, you have to put in 30 years in order to gain full retirement benefits. They use the last 5 years salary to determine benefits.
They seem to have two plans, a defined benefit plan and investment plan. I'm interested in getting info on the defined benefit plan. What is the percentage of salary after 30 years? After 20 years, After 10 years?
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Old 01-30-2011, 07:07 PM
 
Location: Space Coast
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Quote:
Originally Posted by davery5872 View Post
They seem to have two plans, a defined benefit plan and investment plan. I'm interested in getting info on the defined benefit plan. What is the percentage of salary after 30 years? After 20 years, After 10 years?
I took a *very* quick look at the link and see that if you go to the tab along the top that says "FRS programs" and click on "comparing the plans", it will take you to a page where you can see benefit calculations, early retirement, and lots of other things for both plans. (by the way, they are calling the other plan the pension plan)
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Old 11-05-2014, 10:30 PM
 
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What are the guide lines for teaching 1 or 2 years in Florda about twenty years ago. Can you buy those year now?
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Old 11-08-2014, 04:05 PM
 
50 posts, read 121,778 times
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Quote:
Originally Posted by susie B View Post
What are the guide lines for teaching 1 or 2 years in Florda about twenty years ago. Can you buy those year now?
If you have 1 or 2 years of service time, you would need to come back and work longer in order to be vested. You would probably be eligible for 6 year vesting.
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