Planning for the Adventure Ahead
As an employee of Florida Gulf Coast University, a significant component of your benefits package is the participation in one of the State of Florida Division of Retirement plans. Options may include participation in the Florida Retirement System Pension Plan, Florida Retirement System Investment Plan, or the State University System Optional Retirement Plan (SUSORP). In addition, you have the opportunity to maximize your retirement savings by participating in the University sponsored 403(b) program or State Deferred Compensation 457 plan.
Please note: If you recently retired or made a withdrawal from another FRS employer within the last 12 months, you have reemployment restrictions.
State of Florida Retirement Plans
Voluntary Retirement Plans
OPS and Adjunct Employee Options
The Omnibus Reconciliation Act of 1990 (OBRA 90) introduced into the law IRS Section 3121(b) (7) (f). As a result, temporary employees of a government entity may deposit money into a private retirement plan instead of Social Security. The FICA Alternative Plan is a defined contribution plan authorized under Section 401 (a) of the Internal Revenue Code.
Preparing for Retirement
Whether you have been here a few years or your entire career, the thought of retiring can often feel overwhelming. You may have some unanswered questions such as, when will my benefits end? Can I keep my health insurance? Will I receive a cash out of my unused leave time? Can I take an adjunct or OPS position after I retire?
Please review the appropriate checklist based on your retirement plan.