Florida State Retirement DROP Program

I will be able to retire from my present job on March 8, 2008. That means one of two things; I have either reached the age of 62 or older or I have worked for thirty (30) years in the FRS Retirement system. Well, I am not sixty two years of age. I am still young enough to enjoy retirement. I have worked for thirty years at my present job. And believe me, I will be extremely happy when I am able to tell others that I have retired.

I will submit my paperwork tomorrow. On March 8, 2008, I will be officially declared "Retired." However, at that time, I will not walk out the door. I have the choice of remaining at my present job with no changes except that I am retired. I will still make the same salary or more; I will keep the same position or I can promote into another position; my seniority remains the same. Nothing changes except I will be able to walk out the door at anytime and retain my benefits.

DROP affords me the ability to remain employed for five more years even though retired. I will receive the salary I get on a weekly basis from working fulltime and I will also be paid the salary I would have gotten if I walked out the door "Retired." The state of Florida will take the retirement salary of those individuals working in State positions, who have donated to the Florida State Retirement System and place the funds in an account. The money in that account will accumulate and will draw interest until I decide to leave the job. The interest rate is an inflated rate based on the FRS.

While making my salary working, and accumulating additional retirement funds, I will be planning for the day I will leave and what I will do to keep productive. I do not have grandchildren yet, but that does not mean this will not change at some point during this time period.

If you are still healthy and able to work you may opt to just continue working as a regular employee. Some do! Some decide not to go into DROP until they feel it necessary. I however, know I will not work at my present job any longer than five years from the date I have officially been notified by the FRS that I may retire.

There are many other benefits to DROP that are too numerous and detailed to explain here: And I am not an expert on the subject. I recommend that anyone who is in the Florida State Retirement system contact the FRS at www.rol.frs.state.fl.us or by calling (877) 738-3767.