Government News

The Deferred Retirement Option Program (DROP), available under the Florida Retirement System (FRS) Pension Plan, allows a member to retire while continuing employment for up to 60 months. While in the DROP, the member’s retirement benefits accumulate in the FRS Trust Fund and earn monthly interest equivalent to an annual stated rate. In most cases, the DROP participants must cease employment after the maximum 60 months in the DROP. Once the FRS employment ends, the participant can select one of three payout options. (more…)

The recent budget agreement did more than authorize the federal government to engage in additional borrowing, it also changed the rules for claiming Social Security. Going forward, two claiming strategies that had given some couples the potential for higher lifetime benefits will no longer be available.

Click Here to Read

The following information is provided to assist you with questions concerning rollover(s) into government/public sector Employer Deferred Compensation Plans (Code Section 457), for eligible public safety officer and other governmental/public sector employees. As with all income tax-related concerns, retirees should consult with the Internal Revenue Service or their Tax Advisor.

457b rollover distributions Retiring Public Safety officers and government-Public Sector employees

1 2