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The Office of Human Resources serves as a liaison with the state of Florida's Division of Retirement and employees regarding retirement information. The Office of Human Resources can assist employees with enrolling in retirement plans, counseling on retirement benefits and assistance throughout the retirement process.

Retirement Resources

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.

Retiree Insurance

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

Leave Payouts

Annual Leave:

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.

 

Sick Leave:

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.

Second Election

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.

Disability Retirement

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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State-Sponsored Retirement Plans

All faculty, administrative and support staff employees are required to enroll in a retirement plan.


The University of North Florida offers the following state-sponsored retirement plans:

Florida Retirement System | Optional Retirement Program



Florida Retirement System (FRS)

Employees who choose to enroll in the FRS must choose one of the FRS plans:

Pension Plan | Investment Plan

FRS Pension Plan

Eligibility

The FRS pension plan is available to all full and part-time faculty, administrative and support staff employees in a budgeted position at the University of North Florida. The plan is not available to student employees, adjuncts or other personnel services (OPS) employees. Enrollment will be automatic in the FRS pension plan unless another plan is selected within the required enrollment period. 

Description of the plan

The FRS pension plan is a defined benefit plan sponsored by the state of Florida. Upon completion of eight years of creditable service, you are vested in the plan and are eligible to receive a lifetime monthly retirement benefit from the plan when you retire. The amount you receive is based on your age, years of creditable service, the value of each year(s) of service, and your highest five years average final compensation. The plan includes options for retirement income, survivor benefits, health insurance subsidy, disability benefits and cost of living increases. You and UNF share in the cost of the plan.

 

Members of the FRS pension plan may be eligible to participate in the Deferred Retirement Option Program (DROP) or the Phased Retirement Program [in-unit faculty should refer to the BOT-UFF Collective Bargaining Agreement, Article 29.6].

 

The Division of Retirement offers members of the FRS pension plan access to information regarding their personal retirement account. You can obtain information such as service history, service credit, salary data and beneficiary information. You can also calculate benefit estimates based on various retirement scenarios. DROP participants can obtain information such as their DROP retirement date and DROP monthly amounts. To access these features, visit the myFRS web page.

 

How to Enroll

How to Retire

FRS Investment Plans

Eligibility

The FRS investment plan is available to all full and part-time faculty, administrative and support staff employees in a budgeted position at the University of North Florida. The plan is not available to student employees, adjuncts or other personnel services (OPS) employees.

 

Description of the plan

The FRS investment plan is a defined contribution plan sponsored by the state of Florida. Upon completion of one year of creditable service, you are vested in the plan. The amount of your benefit at retirement is determined by the contributions made by you, the employer and the performance of your investment choices. The plan is funded by contributions that are based on your salary and FRS membership class (Regular Class, Special Risk Class, etc.). Contributions are directed into an individual account, and the employee decides how to allocate the contributions among various investment funds. A health insurance subsidy is available under this plan. Effective Jan. 1, 2010, the plan record keeper is Hewitt Associates. They will send an information packet to the eligible employee’s home address approximately three months after the date of hire. For additional information or professional financial guidance regarding this plan, contact Ernst & Young Financial Planners at (866) 446-9377 or visit myFRS.

How to Enroll


Optional Retirement Plan (ORP)

Eligibility

The Optional Retirement Program (ORP) is available to faculty and administrative employees in a budgeted position. Support staff, OPS, and re-employed retirees are not eligible to participate in ORP. Enrollment in this plan must occur within 90 days from the date of hire or the employee will automatically be enrolled in the FRS pension plan.

 

Description of the plan

The ORP is a defined contribution plan sponsored by the state of Florida. Participants are immediately vested in the plan. The amount of your benefit at retirement is determined by the contributions made by the employer, contributions by the employee (voluntary) and the performance of your investment choices. The plan is funded by employer and employee contributions that are based on your salary. Contributions are directed into an individual account, and the employee decides how to allocate the contributions among various investment funds. Tax-sheltered employee contributions to the ORP are also allowed. These contributions are voluntary. A list of approved investment companies may be found on the Division of Retirement web page.


Contribution Rates

  •  Employer contributions: 5.14% of your bi-weekly salary
  •  Mandatory employee contributions:  3% of your bi-weekly salary
  •  Voluntary Employee contributions: Up to 5.14% of your bi-weekly salary. (Complete an ORP change form and submit it to the Office of Human Resources to set up employee contributions or to make changes.)

How to Enroll

  • Contact the approved investment company of your choice to set up an account. A list of approved investment companies may be found on the Division of Retirement web page.
  • Complete an ORP enrollment form and select the option for the ORP.
  • Submit forms to the Office of Human Resources.

How to Retire

  • Contact your approved investment company concerning annuitizing your retirement funds.
  • Contact the Office of Human Resources three to six months prior to your anticipated date of retirement for a counseling appointment.

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Voluntary Retirement Savings Plans

Tax Sheltered Annuities (403b)

Summary 

The University of North Florida offers all employees the opportunity to participate in tax sheltered annuities. Tax sheltered annuities allow employees the opportunity to save money for retirement while reducing their current income tax liability. Taxes on earnings and contributions are deferred until you receive them as income. Contributing to a tax sheltered annuity is voluntary. Contributions are made through payroll deduction and forwarded to a participating investment company.

How to Enroll

How to Change/Stop Contribution Amount

State of Florida Deferred Compensation (457)

Summary

The deferred compensation program through the state of Florida offers all employees the opportunity to save money for retirement while reducing their current income tax liability. Taxes on earnings and contributions are deferred until you receive them as income. Contributing to a deferred compensation plan is voluntary. Contributions are made through payroll deduction and forwarded to a participating investment company. Refer to the Bureau of Deferred Compensation web page for additional information, including a list of participating investment companies.

How to enroll

How to Change/Stop Contribution Amount

  • Contact the participating investment company directly to make a change to your contribution amount.
  • The Bureau of Deferred Compensation will notify UNF of any changes in contribution amounts.

Contribution Limits for 2019 

Contribution limits for voluntary retirement savings plans

Internal Revenue Service (IRS) Retirement Contribution Limits:*

Elective deferral to 403(b) Tax Sheltered Annuity and/or Optional Retirement Plan employee contributions $19,000
Elective deferral to 457 Deferred Compensation $19,000
Limit on age 50 and over catch-up contributions $6,000

*You may qualify to contribute an additional amount if you have at least 15 years of service with UNF. Contact the Office of Human Resources for more information.


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