In this episode Don Anders gets into whether you should pick the FRS Investment Plan or the FRS Pension plan. You make this decision when you first start working, but you can also change it using your one-time second election. For more information, to register for one of our upcoming webinars, or to schedule an appointment, visit us at http://www.frsdrop.com Transcription: Don Anders: Hello, this is Don Anders, and welcome to the Florida Retirement System Podcast. The purpose of this is ju...
In addition to the Florida Pension options, you'll also have the option to contribute to an optional employer plan. We discuss the difference between 403(b), 457, and Roth. We also discuss some tricks you can use to help you save more and to pick the right investments for you. For more information, to register for one of our upcoming webinars, or to schedule an appointment, visit us at http://www.frsdrop.com Show transcription: Don Anders: Hello, this is Don Anders, and welcome to the Flor...
Don talks about whether you should use all of your PTO, cash it out, or roll it into your deferred comp 457, TSA 403(b), BENCOR account, or other plan that is available to you at retirement. For more information, to register for one of our upcoming webinars, or to schedule an appointment, visit us at http://www.frsdrop.com
In this episode, Don discusses one of the best features of the Florida Retirement System, the Deferred Retirement Option Program. FRS DROP is a great feature for Florida public employees where they let you pay your pension into a separate account while they continue to work!
Don and Alex are discussing the 4 Pension Options you can choose from when you retire from the Florida Retirement System. FRS Pension Option 1 is a lifetime payment option for your life only.
Don Anders and Alex Dingman continue with your Pension Options in the Florida Retirement System, focusing today on Option 2.
Don and Alex are discussing the 4 Pension Options you can choose from when you retire from the Florida Retirement System. FRS Pension Option 3 is a lifetime payment option for both the retiree and their spouse. This option is for spousal benefit only, and the reduction is based on the spouse’s life expectancy.
Don and Alex are discussing the 4 Pension Options you can choose from when you retire from the Florida Retirement System. Option 4 is a lifetime option for both participant and spouse, but if either the participant OR their spouse dies the pension is reduced by 1/3 for the rest of the surviving spouse’s life. Like option 3, this option payout is based on the participant’s spouse’s life expectancy.
In this episode, Don and Alex discuss the FRS Investment Plan. It's a defined contribution plan, in which employer and employee contributions are defined by law, but your ultimate benefit depends in part on the performance of your investment funds.
Don and Alex get into the first DROP payout option, which is a lump-sum cash-out option. As most people know, the FRS DROP account is pre-tax money, meaning that distributions to the participant is a taxable event. The FRS will send 80% of your total DROP balance to you and 20% of the total DROP balance to the IRS for taxes.
Don and Alex discuss the 2nd of the 3 FRS DROP rollover options is the 100% Rollover option. Our office likes to call it the “Stop, DROP, and Roll” option.
Don and Alex discuss the final of the 3 FRS DROP rollover options, which is what we refer to as the "Alaskan Cruise" Option. The name is in reference to how you can take out a specific amount for your personal use and rolling over the rest for the future.
Don and Alex Dingman discuss how if you get a Health Insurance Subsidy under the Florida Retirement System, you get $5 per year of service and how you can set that up to your benefit.
Finishing off this podcast series, Don emphasizes the possibilities and choices you still have with your financial plans in and throughout retirement.
Don Anders discusses the recent Florida Senate Bill 84 that was passed on the Senate but then died on the House floor. To attend one of our upcoming Social Security webinars click HERE
If you're in the Florida Retirement System DROP Program, we've created a course just for you. This course will walk you through entering DROP and exiting DROP Step by Step. While this course doesn't give you investment advice, it does give you information on making an informed decision with you investments and how to plan for retirement. So if you're in the FRS DROP program or thinking about entering it, this course is for you. Click here to sign up for free.
Here is our 2022 DROP Rollover webinar: https://event.webinarjam.com/register/623/k375of22w Here is our DROP Exit Course for extensive information in short videos: https://andersretirement.thinkific.com/courses/florida-retirement-system-drop-guide Here is a link to our Calendly for a free consultation phone call on any questions you have: https://andersretirement.com/schedule-a-meeting/ ------------------- Visit our website and social media: https://frsdrop.com/ https://andersretirement.co...
If you're in the Florida Retirement System DROP Program, we'd like to invite you to our 2023 FRS DROP Webinar. At this live webinar, our CEO Don Anders will discuss what you need to know about exiting DROP in 2023. We will discuss the 3 DROP rollover options, retirement timeline, FRS forms, investment options, taxation, and much more. Click here to attend one of our upcoming 2023 FRS DROP Exit Webinars: https://event.webinarjam.com/register/696/w63q7col8
Don Anders discusses some of his favorite fixed account options for 2023. As the stock market gets more volatile, many people are looking for lower-risk investments for their retirement money or FRS DROP Rollovers. Don Discusses the 3 types of accounts he likes that offer principal protection and still give a competitive return. If you'd like to book an appointment to discuss Fixed Account Options you can do so here: https://calendly.com/andersfinancial/wpresidents https:...
Don Anders discusses how to create your retirement plan before you exit the FRS DROP Program. If you're worried about income, risk, DROP Rollover, or anything else, this video will walk you through how our advisors at Anders Retirement & Investment Advisors put together retirement plans. If you'd like to speak with one of our advisors feel free to click this link to schedule your complimentary phone appointment: https://calendly.com/andersfinancial/wpresidents