|The Florida Retirement System has established privacy policies and procedures for the MyFRS.com website. The safeguards outlined here are designed to protect the privacy of FRS members, retirees, and benefit recipients who make inquiries about their personal account information.
Notice of Scope of Financial Services
Ernst & Young's Privacy Statement
Ernst & Young's ADV Part II
Financial Engines' Privacy Statement
Financial Engines' ADV Part II AB
The FRS believes that the privacy and security of your data are essential. We will not sell, trade, or reveal your personal information to third parties, except with your permission or as authorized by law.
How Your Information Is Kept Secure
MyFRS.com and the sites of firms we link to use SSL encryption — which is the industry standard for secure data transfer software — to ensure that data you transmit through the Internet is protected against unauthorized access.
FRS Privacy and Security FAQs
FRS Privacy and Security FAQsWith whom is my information shared?
The FRS, Financial Engines, Aon Hewitt and Ernst & Young — the only entities with access to employee data on this site — will not sell, trade, or otherwise reveal any of your personal information to others except in the following limited circumstances:
How is my personal information kept secure?
FRS is committed to the highest level of user security and employs industry-leading tools and measures to safeguard the privacy of information transmitted through this website.
All MyFRS.com users are required to enter a username and password to gain access to the secured services of MyFRS.com.
The secure server environment encrypts all information while a user is logged in. Information, including Social Security numbers, cannot be read at any time in transit while encrypted.
Due to the sensitivity of personal, financial, and demographic data contained on this site, we protect such information through the use of Secure Sockets Layer (SSL) protocol. SSL is the industry standard for transmitting private documents via the Internet, and allows the encryption of data transferred over the SSL connection. In addition, sensitive information used for login is further encrypted in a token using other industrial-strength encryption tools. These powerful tools ensure that personal login information will not be revealed in the URLs used for login.
Where available, 128-bit encryption over SSL is used to transmit any secure data including payroll files from the client browser to the Web server. This makes the online transmission of data very secure. Most browser installations should already be using 128-bit encryption software, which may be downloaded for free. MyFRS.com will use the highest level of encryption available.
What about the firms that MyFRS.com links to?
The FRS has established strict privacy and security procedures with Ernst & Young, Financial Engines, and Aon Hewitt. In addition, the firms that offer independent investment advice through MyFRS.com do not sell mutual funds or receive commissions from any of the funds they may recommend. Their revenue comes from the fees they charge the FRS.
This website contains investment information, including the historical returns of the various investment funds offered under the Investment Plan. Be advised that none of the investment funds is guaranteed. As a result, as with any other investment you might make, you may experience losses to your plan account, including a loss of principal, as a result of normal investment performance.
Does FRS keep records of my activities on the site?
The FRS reserves the right to perform statistical analysis of user behavior and characteristics to measure use and performance of the MyFRS.com site. This information is used to enhance the site. No other companies or third parties are provided with any analysis or aggregate data obtained in this manner.
If you do not wish to receive cookies, most Internet browsers allow you to turn cookies off so that you do not receive them. If you do turn your cookies off, you will still be able to use our entire website.
Who is collecting my information?
When you are on the MyFRS.com site or one of its links and provide us with your personal information, you can be sure that only the FRS, Financial Engines, Ernst & Young, or Aon Hewitt collects this information unless it is explicitly stated otherwise.
Agreement Concerning Services Provided By Financial Engines® and Ernst & YoungThe Florida Retirement System has asked Financial Engines Advisors LLC ("FE") and Ernst & Young LLP ("E&Y") to provide financial planning assistance to help you make decisions related to the FRS Pension Plan and FRS Investment Plan. It.s important for you to understand what services FE and E&Y will each provide and what these services can and cannot do for you. (In this Services Agreement, "we," "us" and "our" refers to FE and E&Y.) Before you use these services, you must agree to the terms of this Services Agreement.
Services Provided By FE
FE provides the Internet-based online "CHOICE SERVICE" and the Financial Engines Investment ADVISOR® SERVICE ("ADVISOR SERVICE"):
Services Provided By E&Y
E&Y personnel are available in person through live workshops or by telephone to provide financial planning assistance, to help you use the CHOICE SERVICE and ADVISOR SERVICE and to help you understand your options within the FRS. The FRS pays for you to receive these E&Y services. Additionally, after the FRS Choice Program, E&Y personnel will be available to meet face-to-face for individual financial counseling for a fee to be paid by you.
You are responsible for the following as it relates to the services of FE
Disclaimers and Limitations
The following disclaimers and limitations apply:
Terms of This Services Agreement
This Services Agreement will not be construed to be inconsistent with the Investment Advisers Act, any applicable rule or order of the SEC under the Investment Advisers Act, the Employee Retirement Income Security Act of 1974 ("ERISA"), or any applicable rule or order of the Department of Labor under ERISA.
If any provision in this Services Agreement is invalid or unenforceable, the remainder of the Services Agreement will continue in full force and effect. The failure to insist on strict compliance with this Services Agreement will not constitute a waiver of rights under the Services Agreement. FE may change this Services Agreement as it relates to FE, but only with prior notice to you.
FE is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. This Services Agreement also incorporates FE's Disclosure Statement. The text of this Disclosure Statement is printed at the end of this Services Agreement and can be found on the FE website.
FE's Form ADV Part II AB is available by clicking here or can be obtained at no cost by sending a written request to: Financial Engines Advisors L.L.C., 1804 Embarcadero Road, Palo Alto, CA 94303, Attention: Investor Support
E&Y's services will be performed under the supervision of Ernst & Young Investment Advisors LLP ("EYIA"), an affiliate of E&Y that is also registered with the SEC under the Advisers Act.
EYIA's Form ADV Part II is available by clicking here or can be obtained at no cost by sending a written request to: National IAS Compliance Officer, c/o Ernst & Young Investment Advisors LLP, 200 Plaza Drive, Suite 2222, Secaucus, NJ 07094. EYIA is a Delaware limited-liability partnership. E&Y will notify you if EYIA's status changes during the time E&Y is providing services to you.
Between You and FE If there is any dispute between you and FE about this Services Agreement or their services that cannot be resolved informally, you and FE agree to submit to non-binding mediation to resolve the dispute. The mediation will be conducted under JAMS/ENDISPUTE or the American Arbitration Association. FE will share the cost of mediation equally with you. If mediation does not resolve a dispute, you and FE agree to resolve the dispute through binding arbitration, governed by the rules of JAMS/ ENDISPUTE or the American Arbitration Association.
Between You and E&Y If you should have any kind of claim or dispute with E&Y about this Services Agreement or their services, these will be resolved in accordance with E&Y's Alternative Dispute Resolution Procedures as on file with the FRS. Under those Procedures, any disputes that are not settled by agreement will be resolved by binding arbitration. You may request a copy of the Procedures from the address shown in the "Legal Documents" paragraph above, or by requesting the Procedures from an E&Y partner or employee. Should you have a claim against E&Y, your recourse will be limited to the assets of E&Y; you will not be able to bring a claim against any E&Y partner.
Arbitration is final and binding. By agreeing to arbitration, you give up the right to resolve disputes in court, including the right to a jury trial, unless a waiver would violate applicable law.
Privacy Policies for Ernst & Young and Financial EnginesThis section contains two privacy policies containing information about how you, the FRS participant, are protected regarding your private information.
Ernst & Young Privacy Statement
E&Y considers all nonpublic information about its clients to be confidential. This includes personal and financial information provided by you or by others, as well as information E&Y generates on your behalf. It is E&Y's policy not to disclose client information to nonaffiliated third parties or affiliates, except as required by law, without client consent. All relevant records will be provided to the Plan Sponsor in the event that the Client participates in a legal or administrative proceeding. E&Y personnel and contractors working under E&Y's supervision must observe E&Y's policies concerning confidential client information, and E&Y employs security systems designed to protect against unauthorized access to and use of confidential information. All e-mail addresses collected by E&Y are plan assets and shall be shared with the FRS Plan Sponsor and any authorized contractors or agents, but will not be used except as expressly authorized by the Plan Sponsor.
Last updated June 26, 2001
As a financial services company, we believe that the privacy and security of your data are essential. Personal information you give us is handled with care.
Why is Financial Engines safe?
Financial Engines privacy statement
Financial Engines, Inc. is a licensee of the TRUSTe Privacy Program. TRUSTe is an independent non-profit organization whose mission is to build users' trust and confidence in the Internet by promoting the use of fair information practices. To demonstrate our commitment to your privacy, we have agreed to disclose our information practices and have our privacy practices reviewed for compliance by TRUSTe. By displaying the TRUSTe trustmark, we have agreed to notify you of:*
If you have questions or concerns regarding this statement, you should first e-mail email@example.com. If you do not receive acknowledgment of your inquiry or your inquiry has not been satisfactorily addressed, you should then contact TRUSTe. TRUSTe will then serve as a liaison with Financial Engines to resolve your concerns. This privacy statement also applies to our former customers.
* Our site links to other websites. Financial Engines is not responsible for the privacy practices or content of these other websites.
What personally identifiable information of mine is collected?
Financial Engines collects information about you from the FRS, and other information from you upon and after registration. We will have your name, address, e-mail address, gender, name of your employer, birth date, date you enrolled in the FRS, years of FRS-covered employment, MyFRS.com PIN, annual salary and the dollar value of your Pension Plan benefit. If you use the ADVISOR® SERVICE, you may choose to give us information about your financial accounts outside the FRS system, and you may also choose to give us information about retirement assets held by your spouse or partner. If you receive a recommendation under the CHOICE SERVICE or the ADVISOR® SERVICE, we keep a log of the recommendation in our records for your protection. We are required by law to keep records of your usage of our services. This enables us to provide you with a history of the recommendations we have given you.
If you choose to pay for guidance on how to invest assets in accounts outside the Investment Plan, then we ask for your credit card and billing information. Billing information is used to verify your credit card information. We use VeriSign to bill your credit card for the Advice portion of the service you requested. VeriSign is a well-known company that specializes in secure online credit card processing.
For some users, forms such as the Customer Support form and Forgot Password or User ID form are available. These forms ask for some personal information, such as your name and birth date. This information is necessary and used only to provide the service you are requesting through those forms.
Occasionally, we may also conduct optional surveys through our monthly e-mail newsletters. In this case, we would collect the information you provide us from answering the survey questions.
Furthermore, we collect data in our log files. We collect your IP address, browser type, and domain name, and we log the length of time of your visit and the number of times you visit and subscribe to our service. We use this information to gather aggregate demographic information that helps us to provide you with services and information that are relevant to you. We keep this information for our internal use; we do not share it with others.
If your retirement plan sponsor or administrator or other financial institution makes our service available to you, it may provide us with information about you and your account to reduce the amount of data you need to enter.
Who is collecting my information?
When you are on the Financial Engines site and provide us with your personal information, you can be sure that only Financial Engines (which means Financial Engines, Inc. and its subsidiary Financial Engines Advisors LLC) collects this information unless it is explicitly stated otherwise.
How is my information used?
Your personal, investment and forecast information are maintained by Financial Engines to provide you with the services you have requested and to fulfill our legal and regulatory requirements. Financial Engines' primary goal is to offer you a private, customized experience on our website. This includes personalized portfolio tracking, forecasting of your current holdings and, if your access allows, customized guidance on your accounts. By having your personal information, we are better able to assess the chances of your reaching your retirement goals. Therefore, we are able to return a more accurate forecast and/or guidance to you.
The demographic information we collect is used in aggregated form and not linked to any of your personal information. We use this information for our market research purposes.
With whom is my information shared?
Financial Engines will not sell, reveal or share any of your personal information to others except in the following limited circumstances:
What are cookies and how are they used?
Cookies are small amounts of data that are sent to your browser from a Web server and stored on your computer's hard drive. Our cookies do not contain any personally identifying information. Instead, the information they provide is in the form of aggregate statistics. They are used by us to determine audience size, measure traffic patterns and analyze clickstreams.
If you do not wish to receive cookies, most Internet browsers allow you to turn cookies off so that you do not receive them. If you do turn your cookies off, you will still be able to use our whole website.
What choices are available to me regarding collection, use and distribution of my information?
At Financial Engines, we would like to give you control over your account information. On occasion, we may use your e-mail address to inform you of products or services that we believe may be of interest to you. If you do not wish to receive future communications from us, in the ADVISOR® SERVICE go to the "Welcome" tab; click on "Personal info" tab; click on "Registration info" on the left hand side. Then click on "edit" in Account Information. By checking the box under your e-mail address, you will be removed from our mailing list. You can also contact Financial Engines at firstname.lastname@example.org, and we will ensure that you do not receive further e-mails from us. Lastly, you can use the opt-out service on any e-mail that you receive.
If you are a new user and have not registered with us, you can check the box below the e-mail address field that indicates you would prefer not to receive e-mails from us. However, even if you do choose not to receive e-mails from us, we may be required to send you an e-mail in an event where we must comply with our legal and regulatory obligations.
Furthermore, you can change your personal information anytime when you are logged on to Financial Engines. For more information on how to change or correct your information, see the next section, "How can I change my personal information?"
How can I change my personal information?
After logging on to the Financial Engines ADVISOR® SERVICE, you have the option to change your information under the "Personal info" tab. For any information you cannot change in that section or if you are having problems changing your information, you can contact Financial Engines through e-mail at email@example.com to correct your information.
How will you notify me of changes in the use of my personal information?
If we are going to use your personally identifiable information in a manner different from that stated at the time of collection, we will notify you via e-mail. You will have a choice as to whether or not we use your information in this different manner. In addition, if we make any material changes in our privacy practices that do not affect user information already stored in our database, we will post a prominent notice on our website notifying users of the change. In some cases where we post the notice we will also e-mail users notifying them of the changes in our privacy practices.
Any more questions? Contact us...
Please feel free to contact Financial Engines if you have further questions about our privacy and security policies, or if you just would like to give us suggestions for improving them. You can reach Financial Engines in the following ways:
Mail: 1804 Embarcadero Road, Palo Alto, CA 94303