The ABC’s of DROP: A Comprehensive Chart
A thorough and easy-to-use chart displaying the four different DROP options side-by-side with examples, descriptions and pros vs cons.
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To DROP or Not to DROP…That is the Question
Florida employees face an important financial decision before officially retiring: select DROP or Second Election? Read more for related pros and cons and sample scenarios.
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Moving Forward by Reaching Backwards: Reverse Mortgages
A reverse mortgage may seem like an ideal way to finance retirement, but knowing the implications and risks can help determine if obtaining one makes financial sense.
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Understanding Social Security
When should I collect social security? We receive this question on a daily basis. Silverman Financial, Inc. is a local independent financial planning firm that can help you determine the best time to collect your social security benefit based on your individual needs. As a Florida Retirement System member, we can help you determine the […]
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What Pension Options Should FRS Members Consider
Dear FRS Member, Are you wondering what pension option you should take? Silverman Financial Inc. is a local independent financial If you work for the State of Florida and are part of the Florida retirement System, by default you will accumulate benefits in the monthly pension plan. The amount that you will ultimately receive is […]
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Reemployment with FRS After You Retire
You are considered retired from the Florida Retirement System once you receive a distribution from your FRS Pension Plan or Investment Plan. You are restricted as to when you can go back to work with FRS in a covered position. If you take a distribution from the FRS Pension Plan, DROP or the Investment Plan, […]
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Special Pay Plan Florida Retirement System
What is the special pay plan? This plan is a type of retirement savings plan that allows a retiring employee to take advantage of maximum allowable tax savings on eligible accumulated sick and annual leave payments that are made upon retirement. This benefit is not necessarily available to all people who work for the FRS. […]
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