PLAN BASICS

	Investment Plan	Pension Plan
When You Vest in Employer Contributions	1 year	6 years for members first employed by an FRS employer prior to July 1, 2011 8 years for members first employed by an FRS employer on or after July 1, 2011
	The average employee works for an FRS employer 5 to 10 years.
Benefit Payable	Your account balance at the time of termination. Multiple payout options are available, including rollovers, lump sum distributions, distributions on demand, guaranteed annuity payments, or any combination of the above distribution options.	Your lifetime monthly benefit calculation is based on your average final compensation multiplied by the years of creditable service multiplied by the benefit accrual rate. A monthly payment is the only distribution option (except under DROP).
	Flexible payout options may appeal to certain members.
Death Benefits	You can name anyone as your beneficiary.	Your beneficiary designation may be limited. Only a beneficiary who qualifies as a joint annuitant (spouse, dependent children, etc.) is eligible for a continuing lifetime benefit. You may name any beneficiary to receive a time certain monthly benefit if you should die within 10 years of retirement.
	Naming any person as your beneficiary may appeal to certain members.
Early Retirement Benefit	Your account balance is payable at any age (tax penalties may apply).	Your benefit is either reduced or not immediately payable if you choose "early retirement" as defined by the FRS.
	Access to your account at any age may appeal to certain members.
Normal Retirement	Your account balance is payable at any age (tax penalties may apply).	If first employed by an FRS employer prior to July 1, 2011: Regular Class: Age 62 with 6 years or 30 years of service regardless of age. Special Risk: Age 55 with 6 years or 25 years of service regardless of age If first employed by an FRS employer on or after July 1, 2011: Regular Class: Age 65 with 8 years or 33 years of service regardless of age. Special Risk: Age 60 with 8 years or 30 years of service regardless of age.
	Access to your account at any age may appeal to certain members.

If you have questions or need more information, call the MyFRS Financial Guidance Program at 1-866-446-9377, Option 2.