All full-time employees with Broward Community College are members of the Florida Retirement System (FRS). The college contributions are determined on the FRS system. There is no cost to the employee. Pension Plan – Basic Features - A traditional retirement plan that pays a guaranteed benefit at retirement
- A six year vesting schedule
- Employer contribution rate for regular class is 9.85%
- Members can participate in DROP and are eligible to receive the Health Insurance Subsidy (HIS) at retirement
- Members may retire at age 62 with six or more years of creditable service or
- Members may retire at any age with at least 30 years of creditable service.
Investment Plan – Basic Features - This is a retirement plan alternative to the Florida Retirement System (FRS) Pension Plan.
- Allows participants to allocate their employer’s contribution to one or more of the plans investment funds.
- One year vesting
- Employer contribution for regular class is 9.85%
- Enrollment must be completed before the last business day of the 5th month from the month of hire.
- If the employee leaves, the college before completing one year of service, the employee is not entitled to any benefit unless you return to an FRS employer within 5 years and complete the one year.
Optional Retirement Program (ORP) – Basic Features Certain classes of full-time employees are eligible to dis-enroll from FRS and enroll in the ORP – a defined Contribution Plan. - Full-time Faculty and Administrators can enroll in ORP – a defined contribution plan.
- Immediate vesting
- Enrollment must be completed within 90 consecutive days from date of hire.
- Choice of five TSA companies
- Allows participants to allocate their employers contribution to one or more of the plans investment plan.
- Employer contribution rate is 10.43%.
Deferred Retirement Option Program The Deferred Retirement Option Program allows you to retire and begin accumulating your retirement benefits, without termination of employment, for up to 60 months from the date you first reach normal retirement. Forms: Florida Retirement System: Toll Free Numbers | Calculations/General Info | 1-888-738-2252 |  | | Retired Payroll Section | 1-888-738-7687 | | DROP Termination Unit | 1-877-738-3767 | | Disability Determination Section | 1-877-738-3725 | | Survivor Benefits Section | 1-877-377-4347 | | MyFRS Financial Guidance Line | 1-866-446-9377 |
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FRS Information Request (FR-9)
Retiree Rates 2007