Lee County Schools Annual Retirement Seminar
Wednesday, February 8, 2023
You can review the presentations from this year's Annual Retirement Seminar below.
Topics discussed include:
- Florida Retirement Pension Plan
- Insurance and Benefits for Retirees
- BENCOR Special Pay Plan
All employees who are considering retirement or entering the Deferred Retirement Option Program (DROP) in the next 18 months and have not attended a District sponsored retirement seminar or workshop are strongly encouraged to attend the entire seminar. The focus for the evening will be retirement from the FRS Pension Plan. However, retiring employees who have chosen to switch to the Investment Plan (Investment Plan members are not eligible to participate in the DROP) may find the seminar helpful regarding topics such as the BENCOR Special Pay Plan and insurance benefits for retirees.
Special Notice for Non-Instructional Employees who are members of the Pension Plan regarding Deferred Retirement Option Program (DROP) entry deadlines:
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You are eligible to participate in the DROP when you are vested and have reached your normal retirement date. Normal retirement date for members who were originally enrolled in FRS prior to 7/1/2011 is either when you are vested and reach age 62, or when you complete 30 years of service.
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If you complete 30 years of service before age 57 and were originally enrolled in FRS prior to 7/1/2011 you may defer entering the DROP and elect to begin participation at any time after completing 30 years and reaching age 57.
DROP Participation Deadline: You may participate for a maximum of 60 months following the date on which you become eligible for the DROP. Your 60 months of DROP eligibility begin the first month you reach your first normal retirement date or a deferred date as described in the paragraph above. If you delay your decision to participate, your total months of participation will be reduced by that number of months.
Please note: If you do not enroll in the DROP within 12 months from the month you become eligible, you will lose the option to participate in the DROP.