1 / 6

Retirement Review

Retirement Review. State of Florida Retirement Plans. UCF - Benefits Section. Employer Sponsored Retirement Plans. Florida Retirement System (FRS) Pension Plan Investment Plan Optional Retirement Program (ORP). UCF - Benefits Section. Pension Plan 6 year vesting

Jimmy
Download Presentation

Retirement Review

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Retirement Review State of Florida Retirement Plans UCF - Benefits Section

  2. Employer Sponsored Retirement Plans Florida Retirement System (FRS) • Pension Plan • Investment Plan Optional Retirement Program (ORP) UCF - Benefits Section

  3. Pension Plan 6 year vesting Monthly contributions are employer-paid and based on a percent of salary and FRS membership class-paid to a trust fund for all FRS members Defined Benefit - the benefit is based on a formula (years of service, age at retirement, average final compensation, and FRS membership class) Investment Plan 1 year vesting Monthly contributions of 9% are employer-paid to your account Defined Contribution - the benefit is based on your account value (contributions plus investment earnings less expenses and losses) Employer Sponsored Retirement Plans Florida Retirement System (FRS) UCF - Benefits Section

  4. Eligible Employees A&P and Faculty Defined Contribution Contribution Rate – 10.42% Immediate Vesting Investment Providers AIG VALIC ING Aetna Financial Services Jefferson National MetLife Investors TIAA-CREF Employer Sponsored Retirement Plans Optional Retirement Program (ORP) UCF - Benefits Section

  5. Voluntary Retirement Plans Tax Deferred Programs: Employee-sponsored retirement options • 403(B) Tax Deferred Annuities: AIG VALIC, Jefferson National, Symetra, MetLife, ING Reliastar, TIAA-CREF, ING Aetna • 403(B)(7) Mutual Funds: Smith Barney, T. Rowe Price, Vanguard, Fidelity • 457 Deferred Compensation Plans: Call 1.877.299.8002 UCF - Benefits Section

  6. Retirement Retirement Resources: • UCF Benefits Section (407) 823-2771 http://hr.ucf.edu • Provider Contacts • Comparison Charts • Enrollment Information/Forms • Florida Investment Plan (866) 446-9377 (open 9am – 8pm, EST) www.myfrs.com UCF - Benefits Section

More Related