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Retirement Review

Retirement Review

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Retirement Review

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  1. Retirement Review State of Florida Retirement Plans UCF - Benefits Section

  2. Employer Sponsored Retirement Plans Florida Retirement System (FRS) • Pension Plan • Investment Plan Optional Retirement Program (ORP) UCF - Benefits Section

  3. Pension Plan 6 year vesting Monthly contributions are employer-paid and based on a percent of salary and FRS membership class-paid to a trust fund for all FRS members Defined Benefit - the benefit is based on a formula (years of service, age at retirement, average final compensation, and FRS membership class) Investment Plan 1 year vesting Monthly contributions of 9% are employer-paid to your account Defined Contribution - the benefit is based on your account value (contributions plus investment earnings less expenses and losses) Employer Sponsored Retirement Plans Florida Retirement System (FRS) UCF - Benefits Section

  4. Eligible Employees A&P and Faculty Defined Contribution Contribution Rate – 10.42% Immediate Vesting Investment Providers AIG VALIC ING Aetna Financial Services Jefferson National MetLife Investors TIAA-CREF Employer Sponsored Retirement Plans Optional Retirement Program (ORP) UCF - Benefits Section

  5. Voluntary Retirement Plans Tax Deferred Programs: Employee-sponsored retirement options • 403(B) Tax Deferred Annuities: AIG VALIC, Jefferson National, Symetra, MetLife, ING Reliastar, TIAA-CREF, ING Aetna • 403(B)(7) Mutual Funds: Smith Barney, T. Rowe Price, Vanguard, Fidelity • 457 Deferred Compensation Plans: Call 1.877.299.8002 UCF - Benefits Section

  6. Retirement Retirement Resources: • UCF Benefits Section (407) 823-2771 http://hr.ucf.edu • Provider Contacts • Comparison Charts • Enrollment Information/Forms • Florida Investment Plan (866) 446-9377 (open 9am – 8pm, EST) www.myfrs.com UCF - Benefits Section