The 3 Reasons You Should Enter FRS DROP | Understanding Florida Retirement System DROP

Don Anders discusses the 3 reasons you should consider entering the Florida Retirement System DROP Program.
For the reasons why you may want to consider not entering the FRS DROP Program, click here: • 4 Reasons You Should N...
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[@lenchenes]

Thanks for your video. Been looking for videos bout frs for further explanation.

[@324zz]

Thanks so much for all your information I have begged someone to help me understand my retirement more no one I asked understands it I am 37 Three years until im Vested I have serval years in and out if the state starting at 2005 and my year of service credit seem off.maybe not tho and I have OPS alt I want to move to the CS retirement so I will be watch to undersand more again thank you . I randomly posted this on the Drop vid but anyway thank you I dont undersand the different plans ect plan on learning about df comp stuff 2.big help

[@jmg2183]

Thanks for your videos. They are very clear and helpful. Thank you

[@jrossjr11]

Thank you so much for this video

[@Timmer-qp8sy]

Thanks for this video.

[@traintour3763]

My Frs will not let you withdraw any money from your account before retirement even if you have an emergency. Scary really

[@sleeplessvirus]

No defined benefit plan allows early withdrawal. That is for defined contribution plans. It's still a better choice.

[@crisduran2876]

Will having a part time or cashing out personal time off increase your income for FRS PENSION?

[@AndersRetirement]

As long as it is paid out as ordinary income at an FRS entity.
So for instance, if a teacher teaches summer school or coaches a sport and it gets added to their income, that would can’t towards the high five.
Cashing out PTO is the same way as long as it is considered earned income. Paying it out into a deferred comp or 401a plan would not county towards earned income .

[@crisduran2876]

@@AndersRetirement If I’m currently putting 2000 a year into the 401 from my income is it being considered as part of my total wages?

[@crisduran2876]

Am I shorting my pension by putting my ordinary income into the 401?

[@sleeplessvirus]

@@crisduran2876 good question, my experience with federal pensions was no, I earned 2.5 of my income per year and my investments were completely separate. When tax season arrives it will impact the amount I owe the irs but that is the only impact on my pension.

[@justforfun3897]

Have no idea what a COLA is…

[@AndersRetirement]

Cost of living adjustment. It is how much your pension increases every year after you retire.