Free guide for Florida Retirement System members
The FRS DROP Playbook is a free, plain-English guide to the decisions you face before, during, and after DROP. It covers timing, pension options, your payout, health insurance, and the termination rules that catch people out. Every rule is cited to an official source.
You’ll get the guide plus occasional FRS/DROP updates; unsubscribe anytime.
39-page PDF · Facts checked against official sources as of October 2026
DROP is a good deal for many FRS members. It’s also a stack of paperwork with deadlines.
Once you enter the Deferred Retirement Option Program, your pension option is locked. Your monthly benefit stops growing. And when DROP ends you have a short window to choose how your payout is handled. Miss a form or leave the wrong way, and a decision you meant to make gets made for you.
Florida Pension Planners helps FRS employees through this process step by step and can connect you with an advisor when you’re ready for personal guidance. This Playbook puts that same process on paper. You’ll know what to ask, when to ask it, and where the official answer lives.
What’s inside
- Start Here: who the guide is for and the handful of FRS decisions that can’t be undone.
- FRS Basics: Pension Plan vs. Investment Plan, membership classes, and the July 1, 2011 “Tier I / Tier II” line.
- How DROP Works: eligibility, timing, the 96-month maximum, and the interest your DROP account earns.
- Is DROP Right for You?: what you gain, what you give up, and three worked examples (illustrative).
- Choosing Your Pension Option: Options 1–4 in plain English, and why your choice locks in at DROP.
- Your DROP Payout: lump sum, rollover, or both, plus 20% withholding, the 10% additional tax, and the age-55 separation rule.
- Health Insurance & the HIS Subsidy: keeping coverage after DROP and how not to lose months of subsidy.
- Leaving DROP & Reemployment: terminating correctly, the six-month rule, and how retirements get voided.
- Your DROP Countdown Checklist: a printable timeline from 24 months before DROP to your first year after.
- Costly Mistakes & FAQ: the errors we see most and straight answers to common questions.
- Next Steps: fill-in worksheets, a glossary, and a list of official sources.
A look inside
What’s in your free guide
- A 39-page PDF guide written for FRS members, not finance professionals
- “DROP at a Glance”, a one-page summary of the key rules and numbers
- Three worked examples (a teacher, a deputy, and a Tier II member) showing the trade-offs of DROP in dollars. All examples are clearly labeled as illustrative.
- A month-by-month countdown checklist from 24 months before DROP through your first year after
- Five fill-in worksheets for your estimates, options, payout plan, and key dates
- Source citations for every rule, pointing to the Florida Statutes, the FRS Division of Retirement, MyFRS, and IRS.gov
- “What we flagged” notes that tell you where official sources conflict or are silent, so you know what to confirm in writing
- A plain-English glossary of DROP and FRS terms
Questions
How do I get the guide?
Enter your first name and email above and click “Get the free guide.” We’ll email you a link to download the PDF right away. You can read it on a phone, tablet, or computer, or print it.
What will you send me after the guide?
Occasional emails with FRS and DROP updates, such as rule changes, deadlines, and practical tips. Every email has an unsubscribe link, and you can leave anytime.
Who is this guide for?
FRS Pension Plan members who are within a few years of normal retirement, already in DROP, or getting close to the end of DROP. It’s useful for teachers, school staff, state and local government employees, and Special Risk members. It’s also a good read for a spouse or family member helping with the decision.
Is this guide affiliated with the Florida Retirement System or the State of Florida?
No. Florida Pension Planners is an independent educational company. The guide is not produced, endorsed, or reviewed by the Florida Retirement System, the Division of Retirement, MyFRS, or the State of Florida. It explains the official rules and tells you where to find them. Always confirm your own dates and benefit amounts with the Division of Retirement.
How current is the information?
The facts were checked against official sources (Florida Statutes, the Division of Retirement, MyFRS, and IRS.gov) as of October 2026, including recent 2026 law changes. Rules can change, so the guide cites each source and shows you how to check it yourself.
Will this tell me whether I should enter DROP?
It gives you the questions, trade-offs, and worked examples you need to make that decision with your own numbers. It can’t make the decision for you, because that depends on your service, health, family, and finances. If you’d like help applying it to your situation, Florida Pension Planners can walk you through the process and connect you with an advisor.
Does it cover the Investment Plan?
Briefly. Chapter 2 explains the difference between the Pension Plan and the Investment Plan. DROP itself is available only to Pension Plan members, so the rest of the guide focuses on them.
Can I talk to someone about my own situation?
Yes. Call (850) 296-8828 or email frshelp@floridapensionplanners.com to set up a review. We’ll help you understand the process and the forms, and can connect you with an advisor for questions about investments or taxes.
Walk into DROP knowing what to ask.
Get the facts, deadlines, and checklists in one place, with a source cited for each rule. It’s free.
You’ll get the guide plus occasional FRS/DROP updates; unsubscribe anytime.
Questions first? Call (850) 296-8828 or email frshelp@floridapensionplanners.com.
The FRS DROP Playbook is an educational publication. It is not tax, legal, investment, or financial advice, and it isn’t a substitute for advice from a qualified professional who knows your situation. Examples are illustrative and aren’t a prediction or promise of any result. Florida Pension Planners isn’t affiliated with, endorsed by, or acting on behalf of the Florida Retirement System, the Division of Retirement, MyFRS, or the State of Florida. Florida Pension Planners is not an insurance agency, registered investment adviser, or broker-dealer. Benefit rules can change; confirm your own benefits, dates, and deadlines with the Division of Retirement before you act.
