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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?Human Resources
Seminole State College
100 Weldon Boulevard
Sanford, FL 32773-6199
Fax: 407.708.2425
E-mail: hr@scc-fl.edu Get Admissions Info
or call 407.708.2050 Did you know?
Seminole State's Heathrow facility is conveniently located in the heart of the I-4 high tech corridor. |
