-
You must terminate employment (be
off payroll with all FRS
employers for 1 calendar
month) to retire from the
Pension Plan. If you return to
work for an FRS participating
employer during the first
calendar month of your
retirement, you will void your
retirement and your FRS
membership will be
reestablished. All retirement
benefits must be repaid and you
must reapply for retirement,
establishing a later effective
date of retirement.
-
If you are employed by an
FRS-participating employer
during the first month after
ending your participation in
DROP, both your retirement and
DROP participation will
be voided. All benefits
received, including the DROP
accumulation, must be repaid.
An exception applies in the case
of elected officers in DROP as
described below.
-
For 12 months after your effective
date of retirement, you cannot
earn salary from any
participating FRS employer while
drawing retirement benefits from
the system. If you work for a
participating employer during
the 2nd through 12th months
after your effective retirement
date, you must inform the
Division of Retirement. Except
as noted below, for any months
you work during this limitation
period, you will forfeit the
right to receive benefits (the
Division of Retirement will
suspend your benefits and you
must repay any such benefits
inappropriately received for any
month in which you are
employed). After the first 12
months of retirement, there are
no further reemployment
limitations.
-
If you are in DROP, you will be
subject to reemployment
limitations described above
as soon as your period of DROP
participation ends.
Exceptions to the Reemployment Law
If you retire from the Pension Plan and become reemployed in any of the
following positions during your first year of retirement, you may be
exempt from the reemployment limitations, or you may be otherwise
eligible for a limited exception, as follows:
-
A member who retires or ends DROP participation and is serving in an
elective office or is elected, reelected, or appointed to an elective
office is exempt from reemployment limitations during the 2nd through
12th months after termination.
-
A retired justice or judge on temporary assignment to active judicial
service pursuant to Article V of the State Constitution is exempt from
the reemployment limitations after being retired for 1 calendar month.
After being retired for 1 calendar month, you may be reemployed in certain
positions without further limitation during the 2nd through 12th months
after retirement or DROP termination. The excepted positions are:
-
Florida District Schools Boards — After meeting the above
requirements, Pension Plan retirees may be reemployed without limitation
as classroom teachers on an annual contractual basis. Additionally,
noncontractual employment is allowed without further limitation for
Pension Plan retirees who are hired as substitute or hourly teachers,
education paraprofessionals, transportation aides, bus drivers, or
food service workers.
-
Florida School for the Deaf and the Blind — Pension Plan retirees
after meeting the above requirements may be reemployed on an annual
contractual basis as classroom teachers or as substitute or hourly
teachers on a noncontractual basis, without limitation. Allowable
noncontractual employment exceptions also include substitute residential
instructors and substitute nurses.
-
Charter Schools — Pension Plan retirees after meeting the above
requirements may be reemployed as classroom teachers on an annual
contractual basis or as substitute or hourly teachers on a
noncontractual basis, without limitation.
-
Developmental Research Schools — Pension Plan retirees after meeting
the above requirements may be reemployed on an annual contractual basis
as classroom teachers or as substitute or hourly teachers on a
noncontractual basis, without limitation.
After being retired for 1 calendar month, you may be reemployed in certain
positions for up to 780 hours during the 2nd through 12th months after
your effective retirement date or DROP termination. The positions
eligible for a limited exception to the reemployment limitations are:
-
Community Colleges — Pension Plan retirees after meeting the above
requirements may be reemployed as part-time, noncontractual adjunct
instructors or phased retirement program participants for up to 780
hours during the 2nd through 12th months of retirement.
-
Universities — Pension Plan retirees after meeting the above requirements
may be reemployed as adjunct faculty or phased retirement program
participants with the State University System for up to 780 hours during
the 2nd through 12th months of retirement.
-
Firefighters or Paramedics — Pension Plan retirees after meeting the
above requirements may be reemployed as firefighters or paramedics
serving in temporary or regularly established positions for up to 780
hours during the 2nd through 12th months of retirement.
Any affected reemployed retiree who is not eligible for an exception or who
exceeds his or her 780-hour limitation should notify the Division of
Retirement.
|
An Investment Plan member is considered
retired once he/she terminates FRS-covered employment and requests a
distribution from his/her account. A distribution may not be issued until the
Investment Plan member has been terminated for 3 calendar months (except that
an Investment Plan member who has met the normal retirement requirements of the
Pension Plan may receive up to 10% of their account balance after 1 month). So,
if an Investment Plan member is reemployed with an FRS employer prior to
receiving a distribution of his/her benefits, he or she will not be considered
to have retired. Investment Plan retirees may not be reemployed with an
FRS-participating employer for the first 12 months after a distribution has
been requested and issued without suspending (do not take additional distributions)
their retirement benefits, except under limited circumstances as described below.
-
If you retire under the Investment Plan and meet the normal retirement
requirements of the FRS Pension Plan (i.e. age 62 and 6 years of service
or 30 years of service or if Special Risk age 55 and 6 years of Special
Risk service or 25 years of Special Risk service), you may return to
work in certain excepted positions as described below during the 2nd
through the 12th month after retirement without suspending benefits.
You may return to this limited employment after being off all
FRS-covered payrolls for at least 1 calendar month.
-
If you retire under the Investment Plan and do not meet the normal
retirement requirements of the FRS Pension Plan as described above, you
may not return to FRS-covered employment in an excepted position until
you have been retired for 3 calendar months. After being retired for 3
calendar months you may return to employment in one of the excepted
positions during the remaining 9 months after retirement without
suspending your retirement benefits, or you may return to work in any
position if you suspend your retirement benefits for the remainder of
the nine-months.
Exceptions to the Reemployment Law
If you retire from the Investment Plan and become reemployed in any of the
following positions during your first year of retirement, you may be
exempt from the reemployment limitations, or you may be otherwise
eligible for a limited exception, as follows:
-
A member who retires and is serving in an elective office or is elected,
reelected, or appointed to an elective office is exempt from
reemployment limitations during the first year of retirement.
-
A retired justice or judge on temporary assignment to active judicial
service pursuant to Article V of the State Constitution is exempt from
the reemployment limitations.
-
Florida District School Boards — After meeting the above requirements,
Investment Plan retirees may be reemployed without hourly limitations as
classroom teachers on an annual contractual basis. Additionally,
noncontractual employment is allowed without further limitation for
Investment Plan retirees who are hired as hourly or substitute teachers,
education paraprofessionals, transportation aides, bus drivers, or food
service workers.
-
Florida Schools for the Deaf and the Blind — Investment Plan retirees
after meeting the above requirements may be reemployed on an annual
contractual basis as classroom teachers or as substitute or hourly
teachers on a noncontractual basis, without hourly limitations. Allowable
noncontractual employment exceptions also include substitute
residential instructors and substitute nurses.
-
Charter Schools — Investment Plan retirees after meeting the above
requirements may be reemployed as classroom teachers on an annual
contractual basis or as substitute or hourly teachers on a
noncontractual basis, without hourly limitations.
-
Developmental Research Schools — Investment Plan retirees after meeting
the above requirements may be reemployed on an annual contractual basis
as classroom teachers or as substitute or hourly teachers on a
noncontractual basis, without limitation.
-
Community Colleges — Investment Plan retirees after meeting the above
requirements may be reemployed as part-time, noncontractual adjunct
instructors or phased retirement program participants for up to 780
hours during the first year of retirement as described above.
-
Universities — Investment Plan retirees after meeting the above
requirements may be reemployed as adjunct faculty or phased retirement
program participants with the State University System for up to780
hours during the first year of retirement as described above.
-
Firefighters or Paramedics — Investment Plan retirees after meeting
the above requirements may be reemployed as firefighters or paramedics
serving in temporary or regularly established positions for up to 780
hours during the first year of retirement as described above.
Any affected reemployed retiree who is not eligible for an exception or who
exceeds his or her 780-hour limitation should notify the Investment Plan
Administrator.
|