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FRS Investment Plan
| FRS Investment Plan | Public
Employee Optional Retirement Plan (PEORP) is a new defined contribution
program. Participants are fully invested after 1 year of creditable
service. The college pays all contributions. |
| Type of Plan: | A defined
contribution plan. |
| Eligibility: | Full-time
and regular part-time employees. You have the option, during your first
five months of employment, to remain in the FRS-Regular class or enroll
in the FRS Investment Plan. |
| Vesting: | You are vested after one year of creditable service. Pension plan service counts toward the one-year requirement |
| Employer Contributions: | The college
pays all contributions toward your retirement plan. |
| Benefit: | The
retirement benefit is based upon the benefit option you select and your
annuity account balance, which is a result of the employer
contributions, income and investment gains (losses), minus account
expenses. |
| Normal Retirement: | You must meet the vesting requirement. If you retire prior to the year of your 55th birthday, there
may be tax implications. |
| Other Plan Features: | This retirement plan has a disability feature and a health insurance subsidy. |
| Selection of Investment Plans: | Information is available online www.myfrs.com or by calling the toll free employee service number - 866-446-9377. | |
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Want more information?Employment Hotline:
407.708.2400 Request an Application:
hr@scc-fl.edu
Fax: 407.708.2425 Human Resources
Seminole Community College
100 Weldon Blvd.
Sanford, FL 32773-6199 Get Admissions Info
or call 407.708.2050 Did you know?
Students can earn an Associate in Arts (A.A.), Associate in Science (A.S.) degree or technical certificate at SCC. |
