Retirement Plan Enrollment Frequently Asked Questions (FAQ)
For your convenience, we have created an FAQ regarding retirement plan enrollment.
Re-employment After Retirement
After you retire under the normal or early retirement provisions of the Florida Retirement System (FRS) pension plan, you may work for a private employer, a Florida public employer not covered by the FRS, or a public employer in another state or covered by another state's retirement system without affecting your retirement benefit.
The limitations on reemployment with participating FRS employers are as follows:
- If you return to work during the first six calendar months of your retirement you will not be considered to have retired. Your retirement application will be void and all retirement benefits, including any funds accumulated during your Deferred Retirement Option Program (DROP) participation, must be repaid.
- You may not receive both a salary and retirement benefits for 12 months after your effective retirement date. If you do work during the 7th through 12th months after your effective retirement date, you must inform the Division of Retirement. Your retirement benefits will be suspended for the months you are employed during the 12-month period. Any retirement benefits received while working during the first 12 months after you retire must be repaid.
- If you are a DROP participant, you are subject to the reemployment limitations as soon as your participation ends.
- There are no limits on working for a FRS employer after you have been retired for 12 calendar months.
- If you retire under the FRS disability provisions, you cannot be gainfully employed with any employer and continue to receive disability benefits.
For information about retiree insurance, please contact one of the following:
- Office of Human Resources at UNF: (904) 620-2903
- Division of Retirement - Retired Payroll: (888) 377-7687
- PeopleFirst: (866) 663-4735, option #4
Employees are cashed out all accumulated annual leave up to their maximum. (Support staff = 240 hours) (Faculty and Administrative = 352 hours). Note: DROP participants are only eligible for the difference between their maximum and the hours they were cashed out at the time they entered DROP.
Employees who have 10 years of verified UNF service are eligible to be cashed out up to one-fourth of their accumulated sick leave hours not to exceed 480 hours.
Note: Employees may rollover their annual or sick leave into an existing 403(b) Tax Sheltered Annuity offered by UNF or 457(b) State Deferred Compensation Account to avoid certain taxes. However, the rollover amount will be subject to Social Security and Medicare taxes, as well as Federal Taxes on the Social Security and Medicare deduction. Please note, employees should check with their company representative to ensure they don’t exceed federal limits.
Retiree UNF Perks
Employees retired from the University shall be eligible, upon request, and on the same basis as other employees, to receive the following benefits at the University.
- Retired employee identification card
- Use of the University library
- Placement on designated University mailing lists
- University parking privileges
- Use of University recreational facilities (different fees may be charged to retirees than are charged to other employees for the use of such facilities)
- The right to enroll in courses without payment of fees, on a space available basis
- University e-mail forwarding services. Contact the ITS Help Desk at (904) 620-4357 for more information
In-unit faculty members and police officers should refer to their respective bargaining agreements for any and all University perks offered to them.
The 2nd Election option gives all FRS members a one-time opportunity to switch retirement plans during their active FRS career. However, it is a complex subject with financial implications for the member who uses it. Members are advised to contact the myFRS financial guidance line at (866) 446-9377 or go online to the myFRS web page for assistance.
The FRS provides a disability provision for members of the FRS pension plan and FRS investment plan who become totally and permanently disabled and are unable to work. Refer to the disability retirement page for more information.
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