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|Choice Service | Advisor Service | 2nd Choice Service | Account Management | MyFRS.COM
If you are a new employee, you have access to the powerful, online Choice Service powered by Financial Engines®.Log in now to take this advantage!.
In 10 short minutes, you can see for yourself how life decisions could affect your retirement future. The Choice Service can create multiple "what if" scenarios just for you. How you use the service is completely up to you:
- Log in with your User ID and password (or Social Security number and PIN if first time logging in)
- Change just a few assumptions to reflect your personal situation
- Get a customized view of your retirement benefits based on the information you provide
- Explore your options, save your assumptions, and return later-as often as you wish before your election deadline
- 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)
So, log in, compare plans and rest easy knowing that you're on the path to an informed decision.
After making your plan choice election, you can join the thousands of FRS members who have already taken advantage of the online ADVISOR SERVICE, also powered by Financial Engines®. Regardless of which FRS plan you're in, you can access this powerful online application to create a comprehensive plan for retirement.
Log in now to take this advantage.!
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-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 retirement account
- In about 10 minutes, the Advisor Service can suggest the rate at which you need to save in order to reach your retirement goals.
2nd Choice Service
Every employee gets a second career opportunity to switch FRS plans. Changes in your career path or other life circumstances, may mean you should explore your options for switching retirement plans. As with your first election, we're providing you with valuable tools, such as the online 2nd CHOICE SERVICE, to help guide you in making a decision that's right for you. This service provides you with similar modeling functions and capabilities, taking into account your current plan and accumulated benefits, and any other new circumstances and updated information you provide.
Log in now to take this advantage!
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
- Get a newly customized view of your retirement benefits based on the updated information you provide
- Explore your options, save your assumptions, and return later-as often as you wish before making your 2nd and final election
- File your final election on paper when you're done, using the 2nd Election Retirement Plan Enrollment Form (because it's such a critical choice-offered only once-you'll need to file your election using this paper form)
You have only one opportunity to switch plans during your career. Using the 2nd Choice Service can help ensure you're on track to make the right decision for your financial future. You must be actively employed to make an election.
Once you've chosen a retirement plan, you'll have access to a personalized home page from which you can manage your FRS benefits online. Depending on which plan you're in, you'll be able to perform some of the following valuable functions:
- If you're a Pension Plan member, you can review salary and service history, and explore DROP or different payout options
- If you're an Investment Plan member, you can review your account, investment performance or make transfers between funds
As always, if you need assistance with managing your account, you can take the time to use the Advisor Service or call 1-866-446-9377, Option 2 to speak with an Ernst & Young financial planner.
As part of the MyFRS Financial Guidance Program, you'll find a wealth of investment, financial management and retirement planning information posted to our Web site at www.myfrs.com. Online information and materials are available to you throughout this site, including:
- Basics — Information to get you up to speed with the basic principles of investing, complete with a roadmap developed specifically for new hires, as well as other educational material such as Keys to Retirement Planning and Investing and Retirement 101
- FRS Programs — Information about the programs available through the FRS, including the Pension Plan and Investment Plan, along with a valuable plan comparison that offers a side-by-side view of key plan attributes
- Resources — A list of forms, publications, and other PDF documents available on the site, along with descriptions of the various Financial Planning & Counseling services available through the MyFRS Financial Guidance Program
- Tools — A set of easy-to-access online tools to further enhance your knowledge and your experience using MyFRS.com; such tools include:
- FAQ Knowledge Base — An extensive set of questions and answers 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-searchable by location-that are sponsored by the MyFRS Financial Guidance Program in an effort to help get you started in understanding how to manage your personal finances