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Retirement & DROP

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Items included in this section are: 

​1)  Retiring from Volusia County Schools - Frequently Asked Questions and Paperwork Session Dates​​

2)  The Florida Retirement System (FRS) - includes FRS Beneficiary forms and links to available videos

3)  Annual Retirement Workshop Presentations from March 10, 2017

1.)   Retiring from Volusia County Schools - FAQs & Paperwork Sessions

​​ There are many frequently asked questions (FAQs) related to retirement that you may also have such as:

  • How do I prepare?
  • Do I have choices?
  • When are the sessions I can attend to complete paperwork for retirement?
  • I'm in DROP but if I want to leave early, what do I need to do?
We have prepared the following to assist you:  Frequently Asked Questions and Session Dates
​​
For specific questions regarding Retirement and DROP, you may contact the Florida Retirement System (FRS) at (844)377-1888 or visit the FRS website (link below) which contains up-to-date news and information.  FRS employees can answer all of your personal questions, provide information on creditable years of service and eligibility with precise accuracy.  To access general information about the FRS programs, you may use the​​ following link:  FRS Programs .  You can also visit the Division of Retirement website to create a user ID and password for access to your personal retirement information.
 
Other publications you may find helpful at FRS Publications include: ​​
Volusia County Schools Contact information:  Eileen Spake, Retirement Specialist, (386)734-7190 ext. 20311, espake@volusia.k12.fl.us 
 
[NOTE:  The Volusia County School Board does not offer any type of financial planning services. Financial planning & counseling services are available through the Florida Retirement System.  You may visit the Division of Retirement for more information or contact a certified financial planner.]  

2​.)  Florida Retirement System (FRS)


 
The Florida Retirement System (FRS) website contains information about the Florida Retirement System (FRS) - the fourth largest public system in the nation - including:
  • ​​​Financial Planners Not Endorsed by FRS
  • FRS Videos and Webcasts: created to allow you to view short presentations explaining various FRS Pension Plan topics. You can also view a printed copy of each clip by clicking on the PDF link after each title.

  • Forms:  provides an alphabetical and categorical list of FRS forms and packets, including those needed for service and disability retirement, as well as the forms needed to enter DROP.

  • Legislation, Laws and Rules: summary of retirement bills introduced for consideration and/or enacted by the Florida Legislature, along with Florida retirement rules and laws.

  • Employee Page:  provides FRS members access to their personal retirement account information, along with in-depth information about the Deferred Option Retirement Program (DROP).

  • Retiree Page:  provides information and links to items of particular interest to retirees and other beneficiaries of the FRS Retirement Plan.

  • Beneficiary Information - When is the last time you checked/updated your beneficiary information at FRS?  The forms are different depending upon the retirement plan you have  - pension plan, DROP participant, investment plan or if you are already receiving a pension benefit.  Even if you are single and have no dependents, you should still have a beneficiary so at the very least your 3% contribution you are making towards your retirement goes to someone.  Attached are the forms that may be completed and sent/faxed to FRS or you can complete the forms on-line at www.myfrs.com .

The www.myfrs.com website is a cooperative website of the Department of Management Services and the Florida State Board of Administration. It is part of the MyFRS Financial Guidance Program and offers online planning models and choice tools to help employees eligible for membership in the FRS to choose between the FRS Pension Plan and the FRS Investment Plan. The website also provides access to resources available under both plans.  The website offers up-to-date news and information to New Hires, Current Members and Retirees.

To view FRS Quick Clips that provide information on how to log in to FRS Online, Retirement without DROP, DROP Retirement, Benefit Payment Options please use the following link:  Retirement Information for Members

3.)   Annual Retirement Workshop - March 10, 2017

The district will be provided a Retirement/DROP workshop for eligible employees.  The following are copies of the presentations that were provided:

​PresentersPresentation

​Sandy Higginbotham
Director of Insurance & Employee Benefits

Health Insurance and Medicare 101.pdf
​Joe Avallone, BENCORSick-Annual Leave, DROP Accounts, Taxes and Planning.pdf

​Richard Clifford
Division of Retirement

Understanding the FRS Pension Plan.pdf

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