Florida Retirement System

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Choice Service | Advisor Service | 2nd Choice Service | Account Management | MyFRS.COM

Choice Service
If you are a new FRS member, you have access to the online Choice Service powered by Financial Engines®. Log in now to take advantage of this free service.

In a few minutes, you can see how life decisions can affect your retirement. The Choice Service can create multiple "what if" scenarios just for you. Take the following steps to better understand how your decisions now can impact your tomorrow:

  • Log in with your User ID and password (or Social Security number and PIN if first time logging in)
  • Change a few assumptions that reflect your personal situation
  • A customized view of your retirement benefits based on the information you provide will be shown
  • You can explore your options, save your assumptions, and come back later, as often as you want prior to you deadline. You can file your plan choice when you're done-directly online (or, if you prefer, you can always file a paper election or call the MyFRS Financial Guidance Line)
  • File an election when you're done-directly online (or, if you prefer, you can always file a paper election or call the MyFRS Financial Guidance Line)

Once you compare plans and make an active choice, you can rest easy knowing that you're on a path to making sound decisions about your retirement and beginning to put in place a financial plan for your future.

Advisor Service
Now it's time for you to take advantage of the online ADVISOR SERVICE, also powered by Financial Engines®. It doesn't matter which plan you are in, you can access this online application to create a comprehensive plan for retirement. Take advantage of this free advisor service!

By providing information specific to your current status and goals, the Advisor Service can:

  • Create a financial plan for retirement that takes into account your personal information (current age, income, retirement age and outside investments) and your retirement income goals.
  • Update you on important investing concepts like market risk, inflation risk, asset allocation, diversification, and more by helping you become a knowledgeable long-term investor.
  • Receive personalized and objective guidance on how to invest your Investment Plan account balance, or, if you are a Pension Plan member, how to invest your savings in one non-FRS tax-deferred account.
  • Help you create personal "what-if" scenarios for you to see the effects of opening another account to help save for your future.
  • The Advisor Service can suggest the rate at which you need to save in order to reach your retirement goals.

2nd Choice Service
Every FRS member has a second career opportunity to switch FRS plans. You should explore your options before deciding to switch retirement plans. There are valuable tools, such as the online 2nd CHOICE SERVICE, to help you in making the right decision for you. This service takes into account your current plan and accumulated benefits, and any other new circumstances and updated information you provide. Using the 2nd Choice Service, you can:

Using the 2nd Choice Service, you can:

  • Change just a few assumptions to see whether life or career changes might make the other FRS retirement plan more attractive for you.
  • You get a newly customized view of your retirement benefits based on your updated information.
  • Explore your options, save your assumptions, and return later. You can review as often as you wish.
  • File your final election when you're ready. Complete and submit the 2nd Election Retirement Plan Enrollment Form.

You have only one opportunity to switch plans during your career. You must be actively employed and earning service credit to make a 2nd election.

Account Management
Once you have chosen a retirement plan, you will have access to a customized home page to manage your FRS benefits online. Depending on which plan you're in, you will see some of the following valuable information:

  • If you are a Pension Plan member, you can review salary and service history, and explore DROP or different payout options
  • If you are an Investment Plan member, you can review your account, investment performance or make transfers between funds

If you need help with managing your account, you can use the Advisor Service or call 1-866-446-9377, Option 2, where an EY financial planner is available.

MyFRS.com
As part of the MyFRS Financial Guidance Program, you will find a wealth of retirement planning,investment, and financial management information at www.myfrs.com. You have online information and materials available throughout the site, including:

  • New Hires — Information on the basic principles of investing, complete with educational material such as Keys to Retirement Planning and Investing and Retirement 101
  • FRS Programs — Information about the Pension Plan and Investment Plan, along with a valuable plan comparison that offers a side-by-side view of key plan provisions
  • Resources — A list of forms, publications, and other documents available on the site, along with descriptions of the various Financial Planning & Counseling services available through the MyFRS Financial Guidance Program
  • Tools — You have access to a set of easy-to-use online tools to add to your knowledge and your experience using MyFRS.com. The tools include:
    • FAQ Knowledge Base — Extensive Q&A about the different plans, the process for making a choice, and important investment principles-all searchable by keyword or by advanced search
    • Investment Fund Info — Detailed descriptions of the Investment Plan's funds, including investment objective and strategy; fund management; short-term and long-term historical performance; performance relative to industry benchmarks; and more
    • Calculators — Easy–to–use financial calculators, with options to configure, calculate, and compare different scenarios for investments, retirement, and personal or home financing
    • Workshop Calendar — Up-to-date listing of workshops by location- sponsored by the MyFRS Financial Guidance Program and your employer to help get you started on managing your personal finances.