The Florida Retirement System offers you the option of participating in two FRS retirement plans: the FRS Investment Plan and the FRS Pension Plan (which includes DROP). In addition to the FRS retirement plans, universities and community colleges offer defined contribution annuity programs for some of its members. The Division of Retirement also has oversight of the Police & Fire local government retirement plans specifically for local police officers and firefighters.
We apparently have not been able to retain police officers in part because we are not in the Florida Retirement System. That is the main reasons we recently have lost officers to the Sheriff’s office who provides FRS. Ray Vaughn has previously been on a State Retirement Plan prior to moving over to White Springs as has Police Lieutenant Michael Brandon Marsh. Nicole Williams had contacted the FRS and told them to contact Tommie Jones, who said he had not been contacted. Mayor Miller said that we need to see whether we can change our retirement over to the FRS and what it will cost. At one time, Beverly Brazil indicated, one could be in the system six years, then it changed to ten years and now it is eight years. It was desired that the Town check into the FRS and see if we can be a part of it which would help our retention of police officers.
Karin for the blog