Retirement

  • My FRS New Hire Experience (document from a third party)

    FRS On Line

    FRS Investment Termination Kit (document from a third party)

    DROP Frequently Asked Question 

    FRS Newsletter

    FRS Finanicial Planning Workshop

    Termination Kit English 

    Termination Kit Spanish*

    Working After Retirement (Investment Plan and Pension Plan

     


    INITIATE YOUR RETIREMENT PROCESS

    To initiate your retirement, you must notify the Florida Retirement System & Hernando County School District.

    1. FLORIDA RETIREMENT SYSTEM (FRS):

    Investment Plan Members - Contact My FRS Financial Guidance line at 866-446-9377. You may have to wait up to three calendar months to receive a distribution. FRS will be notified that you have ended employment via HCSD Payroll.

    Pension Plan Members - Contact the calculations department at (844)377-1888. Complete Forms FR-11 and FRS-11o, return the completed forms to HCSD Benefits with a copy of your birth certificate. Benefits will complete the Employer Certification section and forward the completed forms to FRS.

    For Disability Retirement - Contact the disability sections at (844)377-1888. Complete Forms FR-13, FR-13a and FR-13b and return to FRS.

    For Participation in the Deferred Retirement Option Program (DROP) - Contact the calculations department at (844)377-1888. Complete Forms DP-11 and DP-ELE, return the completed forms to HCSD Benefits with a copy of your birth certificate. Benefits will complete the Employer Certification section and forward the completed forms to FRS.

    To Terminate from the Deferred Retirement Option Program (DROP) - Contact the FRS DROP Termination Unit at (844)377-1888. FRS will mail you a termination form. Return the completed form to HCSD Benefits. Benefits will complete the Employer Certification section and forward the completed form to FRS.

    Health Insurance Subsidy (HIS) - You may be eligible to receive additional money from FRS to help offset some of the cost of maintaining health insurance coverage. The current subsidy payment is $5 per month for each year of creditable service at retirement, the maximum is $150 per month. You will receive the subsidy application on or around the same time that you receive your first pension check from FRS. Contact the FRS Calculations Department at (844)377-1888, for more information.

    To apply for service retirement or DROP via the Florida Retirement System you must submit a signed and notarized application form to the Bureau of Retirement Calculations Department. Applications are accepted up to six months prior to the date you expect to terminate employment or enter DROP. The law does not provide retroactive benefits for an employee who delays completing an application until after his/her resignation date. It is the Employee’s responsibility to initiate his/her retirement process, see Board Policy.

    2. HERNANDO COUNTY SCHOOL BOARD (HCSB):

    Inform Your HCSB Administrator of your intent to retire
    Visit HCSB website at hernandoschools.org
    Click on JOBS
    Click on..."Click Here" in the Current Employee Section
    Enter your username and password (see the bookkeeper at your site if you don't know it)
    Click on My HR Docs
    Go to "Quick Submit Form" and arrow down
    Click on Resignation/Retirement
    Click submit
    Complete the form
    Scroll down to (select and action) arrow down and click submit

    Vacation Pay, Terminal (Sick) Pay and Bencor
    You may be entitled to Vacation and/or Terminal Pay, see Board Policy, contact HCSD Payroll Department at (352) 797-7012 for information. When applying for DROP your vacation balance will be included in your FRS Final Salary Certification and you will be paid all or part of your vacation hours. If you would like to defer your vacation pay off until the end of your DROP participation, submit your request in writing with your DROP election forms to Benefits. Administrators, Instructional, Professional Technical and Confidential staff must request Bencor information from the Payroll Department at (352) 797-7012. Some/All of your sick pay may be sent to Bencor. You can request a payout or rollover form from Bencor 30 days after your resignation date by calling (888) 258-3422 option 1.

    Health Insurance Benefits
    After you complete a HCSD Personnel Action Form online, Benefits will send you a letter with instructions on how you can continue your health benefits. You must be vested via FRS at the time of your resignation with HCSD to be eligible for Retirement Health Benefits. Otherwise, you will be offered COBRA for 18 months, see Board Policy. For more information contact Benefits at (352) 797-7007.