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Deferred Retirement Option Program (DROP)

DROP stands for Deferred Retirement Option Program. An FRS employee can enter DROP after they have completed years of service prior to July 1st, 2011, or six years of service by the age of 62. This applies to regular class of service. High risk can enter DROP at the age of 55 with 6 years of creditable service or 25 years of service regardless of your age. This assumes that you were employed prior to July 1st 2011. As FRS member has the ability to stay in DROP for as long as five years. An FRS member also has the ability to leave the DROP program wherever they want.

When you enter DROP, you have to select an optional retirement benefit. When you enter DROP, you are considered to be retired. You can elect one of four options upon entering DROP. Whichever one of the four options you so choose will determine how much money you ultimately will get out of DROP 60 months later. Additionally, once you leave DROP you will receive a monthly check form the State OF Florida.

Prior to July 1st, 2011, the money that was credited to the DROP account earned 6.5% interest. After July 1st, 2011, the interest credit dropped to 1.3%. Additionally, there is a cost of living (COI) associated with DROP. Prior to July 1st, 2011, the cost of living credit to the DROP account was 3%. It is now formula-driven. You can see an example of this on our website under DROP account.


To learn more about Second Election and the FRS Program, visit one of our monthly workshops.