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pheonix24
03-23-2008, 05:46 PM
Whats up with the Florida retirement system??? are all departments a required 25 yrs age 55 to retire? Does anyone know any specifics about Tampa police or the hillsboro county sheriff, do they participate in the state retirement program or are the 20 yrs and out? I am contemplating relocating after 12 yrs in PA but I dont know if I want to start from scratch again and have to do 25 years. Anyone have any info for me?????

ftlaudcop
03-23-2008, 06:34 PM
all sheriff's offices
all state law enforcement
all county fire dept and law enforcement

are fla retirement system

25 yrs to retire at any age
06 yrs to vest for a pension

start at older age ?? , 6 yrs minimum and age 55 to retire

you collect 75% of yr 5 highest years

tampa has their own retirement, 10 yrs to vest

StudChris
03-23-2008, 07:35 PM
The thing that is so great about FRS is that you pay NOTHING into your retirement (meaning you can use that money to invest in something like a 401K plan). Not sure what the deal with Tampa is, but I think OPD is something like 70% at 20 or 80% at 25 years, and you pay something like 10% into retirement (those numbers arent exact but pretty close). Like whoever said, you don't have to work for 25 years to retire, you just have to wait 25 years to retire if you want 75% of your top 5 years.

PB3021
03-23-2008, 10:17 PM
FRS also has a market plan. All the $ is put into the stock market which you can manage via a website with the aid of an investment firm, or have your own financial planner do it. You vest in 1 yr and when you leave/retire, you can take/transfer all your money with you.

damode
03-24-2008, 12:18 AM
So is it possible to be in FRS pension and the FRS 401k plan?

::if this questions doesnt make sense, its o.k, i have no idea about the FRS system::

luckydog
03-24-2008, 01:01 AM
So is it possible to be in FRS pension and the FRS 401k plan?

::if this questions doesnt make sense, its o.k, i have no idea about the FRS system::


you have to decide on one or another. you can also invest in other outside plans in addition to frs as you pay nothing into it.

damode
03-24-2008, 07:00 PM
Wrd up, thanks for the info

nickels41
04-06-2008, 05:02 AM
all sheriff's offices
all state law enforcement
all county fire dept and law enforcement

are fla retirement system

25 yrs to retire at any age
06 yrs to vest for a pension

start at older age ?? , 6 yrs minimum and age 55 to retire

you collect 75% of yr 5 highest years

tampa has their own retirement, 10 yrs to vest

So if you are retiring with less than 25 years, you will still get the 75%?

Pete12
04-06-2008, 06:39 AM
every year is 3% so 20 years is 60%. At 20 years you can go into the DROP and retire at 25 years with 80%. You vest at 6 years(6X3=18% pension)

ftlaudcop
04-06-2008, 08:15 AM
So if you are retiring with less than 25 years, you will still get the 75%?


if you start at a older age, you will get 3% with a minimum of 6 yrs in.....

if you decide to quit, with less than 25 and age less than 55, you get

a penalty of 5% for each yr yr not 55, if you take the pension.....

if you ' cash out ' yr best bet is switch to tax deferred annuity unless ya wanna get hit with tax's hard.

i have 24 yrs 7 months in now......and i am 48

if sumthing happened and i took the pension route, i would get 35% of

my 75 % top pay penalized for not waiting 5 months.

I could switch out to the investment plan and not be penalized, depending
how i manage my money.

district6
04-06-2008, 08:28 AM
Just come a little farther north and and apply for the NCSHP they pay 100% and full medical......

ChopperCopper
04-07-2008, 01:26 AM
Full medical? That's like a $20K bonus every year after retirement!

vicmackey
03-24-2010, 05:22 PM
I know this is an old post I'm bringin back here. But what is "drop" that this fellas talking about ?

ftlaudcop
03-24-2010, 07:22 PM
if you start at a older age, you will get 3% with a minimum of 6 yrs in.....

if you decide to quit, with less than 25 and age less than 55, you get

a penalty of 5% for each yr yr not 55, if you take the pension.....

if you ' cash out ' yr best bet is switch to tax deferred annuity unless ya wanna get hit with tax's hard.

i have 24 yrs 7 months in now......and i am 48

if sumthing happened and i took the pension route, i would get 35% of

my 75 % top pay penalized for not waiting 5 months.

I could switch out to the investment plan and not be penalized, depending
how i manage my money.

************************************************** **************

did my 26 yrs...gettin 78 %..of my 5 highest....
and making more now than wheni was working thanks to overtime..
=
and...goof offf all day .......:p

LEO_07
03-24-2010, 08:34 PM
************************************************** **************

did my 26 yrs...gettin 78 %..of my 5 highest....
and making more now than wheni was working thanks to overtime..
=
and...goof offf all day .......:p

And well earned I am sure.

jgorto
03-26-2010, 09:38 AM
so if i retire from NJ and work in fla for 6 years, will i be able to collect 2 pensions or just cash out or invest the money that is in the fla pension?

ftlaudcop
03-28-2010, 11:20 AM
sheriff_lobo at 11:17 AM March 28, 2010
tax payers paying for life time benifits for:

sect 8 housing

free medical

food stamps

illegal haitians in public funded schools

illegal aliens.....any nationality

free breakfast and lunch in public schools

these are the items the tax payers cannot sustain,......mention the elimination or reduction

and i'll meet you half way on the pension's......

in fact eliminate the risk........then i'll be happy.....

god bless the police officers and fire fighters

support your local sheriff, god bless america, with out public safety,

the new reporters would get their lunch money took,....