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How do I change my PIN once I receive my Retirement Choice Kit?
You can change your PIN either by phone or online once you have received your New Employee FRS Enrollment Kit containing your provided PIN information. To change your PIN by phone call the MyFRS Financial Guidance Line toll-free at 1-866-446-9377. To change your PIN online, you must first register on the site by creating a unique user ID and password. Next, log in using your user ID and password, and click on the 'My Profile' button located on the top right side of the page. Near the bottom of the new page you will see a link to a form allowing you to submit and confirm a new PIN. Your new PIN will be activated immediately.
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How do I change my user profile information once I've made my choice?
To change your user profile, you must be logged into the system using your existing user ID and password (if you do not have a user ID and password you must first register on the site using your PIN). Once you are logged in, just click on the 'My Profile' button located on the top right side of the page. From this page, you can change your user profile.
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What educational resources are available to help me learn about my retirement plan choice and both retirement plans?
Educational services are being provided to all FRS members through the MyFRS Financial Guidance line and, it's free. The planners and counselors on the line can help you understand the: - difference between the two FRS plans;
- importance of retirement planning and anticipating future income needs; and
- basics of investing and how to be an effective long-term investor.
Independent, experienced financial education firms are providing the services for this program. These firms Financial Engines® and Ernst & Young are not connected with either retirement plan and do not sell investment or insurance products, so there's no potential conflict of interest. Under the FRS, you can receive financial information in many different ways, including: - A personalized Benefit Comparison Statement that compares your projected benefit under both retirement plans (using one set of assumptions). This statement is included with a new employee FRS enrollment kit that will be sent to your home.
- The CHOICE SERVICE, an Internet-based service that lets you see what your future benefit would be under both plans, using a variety of different assumptions. The CHOICE SERVICE will also help you determine which investment funds are best suited for you.
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