• Deferred Retirement Option Program (D.R.O.P)

    The Deferred Retirement Option Program (DROP) provides employees with the opportunity to retire and begin accumulating their retirement benefits for up to 96 months, without terminating employment.  Please select the DROP Guide below to see if you are eligible to participate in the DROP plan. 

    FRS D.R.O.P. Guide


    Entering (D.R.O.P)

    Once you enter DROP, you stop earning additional years of service credit towards a future benefit. You have your retirement benefit calculated at the time your DROP period begins and your monthly retirement benefits accumulate in the FRS Trust Fund, earning interest while you continue to work. During this period of employment, you no longer contribute 3% of your salary towards retirement.  

     

    DROP application
    FAQs regarding Sick time/Vacation pay
    Payroll FAQ
    BENCOR Special Pay Plan
    BENCOR Special Pay Welcome Letter
    FRS Pension Plan Option Selection Information
    Special Pay Plan Frequently Asked Questions

     

    Exiting (D.R.O.P)
    If you work until your original DROP termination date, the Division of Retirement will mail you your DROP termination Packet approximately 90 days prior to your DROP termination date.

    If you are exiting DROP prior to your original DROP termination date, it is important that you contact FRS at 1-844-377-1888.  Let them know what your final date of employment will be and FRS will send you a personalized DROP termination packet.

    PCS Exiting DROP packet 
    DROP Term Process Guide
    Retirement Insurance Benefits Information and Rates
    BENCOR Special Pay Plan
    FAQs regarding Sick time/Vacation pay
    Reemployment after Retirement
    PCS Retirement FAQs

     

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    Schedule an Appointment Today!

    • Individual Retirement Appointments Available through the Scheduling Link
      We encourage employees planning to retire this year who need assistance to schedule a one-on-one appointment. The Risk Management Retirement Team is offering individual appointments, including evening hours, for employees who are considering retirement and information gathering, submitting a Regular/Early Service Retirement application, entering DROP, retiring from DROP, submission of retirement Insurance forms, and retiring from the FRS Investment plan.

      Retirement Forms should be submitted through Risk Management approximately 60 days prior to your retirement date. Appointments are available in person or through Teams or Zoom. Notaries will be available, if necessary.

      Please visit the retirement scheduling page to register for an individual appointment with a Retirement Specialist. 

      Should you have any technical difficulties with registration, the link below has directions on how to use the new scheduling system. You may also call the Retirement Team at 727-588-6214, or email risk-retirement@pcsb.org for assistance.

      How to Book Appointments - Instructions