In the performance of the duties required by your employer.
Individual Retirement Account (IRA)
A retirement savings account that gives tax benefits for delaying withdrawal until retirement age.
Inflation Protected Securities Funds
Funds that invest in United States Treasury inflation-protected securities or "TIPS." TIPS provide two types of return. First, there is a fixed interest rate that¿s been around 2% to 3% since TIPS were first issued in 1997. Second there is a return of principal (the amount of your initial investment) and interest (the earnings on your investment) that is "protected" or indexed to inflation. As inflation rises, so does the amount of principal and interest you receive.
The amount charged on money owed to the Florida Retirement System Trust Fund, or, if you are a participant of the Deferred Retirement Option Program, the amount earned on retirement benefits that accrue on your behalf, as established by law. Interest owed is charged from the date required for the type of service purchased and is compounded annually each June 30, while Deferred Retirement Option Program interest is earned from the month following deposit
and is compounded monthly.
The increase in the value of an Investment Plan account that comes from an increase in the price of investments and an increase in the value of reinvested earnings in the account.
The private-sector companies responsible for the day-to-day operation of buying and selling the investments held inside the FRS Investment Plan funds. These private-sector companies are banks, insurance companies, brokers and firms that advise and help run mutual funds and institutional investment funds. The FRS Select funds use multiple specialist investment managers to control risk.
See definition for "Defined Contribution Plan"