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FRS Pension Plan: Six or eight years of service, depending on the initial enrollment.
FRS Investment Plan: One year of service.
You have eight months from your hire date to enroll in the FRS Pension Plan. If you do not choose a retirement plan before the enrollment deadline, you will default to the FRS Investment Plan. Special Risk Class Members will automatically default to the FRS Pension Plan.
You will contribute a mandatory 3% pretax contribution that is deducted from your paycheck each pay period.
You cannot make additional pretax contributions above the 3% mandatory contribution.
The University will contribute an amount equal to 3.3% of your gross salary. Employer rates vary by membership class.
Contribution rates are set by the Florida Legislature each year and are subject to change.
You will contribute a mandatory 3% pretax contribution that is deducted from your paycheck each pay period. Additional voluntary pretax contributions of up to 5.14% can be deducted from your gross paycheck per pay period and contributed to your ORP plan. Voluntary pretax contributions can begin, stop, and change at any time. The University will contribute 5.14% of your gross salary per pay period.