Retirement

  • Welcome to the Retirement Informational webpage! If you still have questions after looking through this site, please feel free to contact the Risk Management Staff.
      
    Questions?  Call 588-6214 or email risk-retirement@pcsb.org. 

     

    PCS Retirement Informational Guide and Retirement Videos

    It is never too early to start preparing for retirement. 

    The Retirement Roadmap is a useful tool to prepare for all aspects of retirement.  It's a valuable resource for all employees from new hires to retirees.

    Your road to retirement is a journey.  Click on the link above to review what steps you need to take from beginning to end.

     

    Retirement Videos

    The following videos provide some great information on subjects relevant to your retirement journey.

    The Road to Retirement: A Guide to FRS Service Retirement

    Retirement Insurance 2021

    Retirement Payroll FAQs

      

      New Hire Retirement Options

     As a new employee, you must choose between the two available retirement plans before your deadline.

    The Florida Retirement System (FRS) offers you two retirement plans — the Investment Plan and the Pension Plan.

    As an FRS member, you get to choose the one that’s right for you.

    Remember: You have until 4:00 p.m. ET on the last business day of the 8th month after your month of hire to submit your choice.

    FRS has many resources to help you understand your options and make the right decision.  Follow the link below:

                https://www.myfrs.com/NewHire.htm

     For more information for New Hires, please go to the Newly Hired web page:  New Hire Information

     

    Thinking About Retirement

     

    Are you considering Retirement?  Click on the link above to determine the best available retirement options for you!

      

     FRS Retirement Programs

     

    As a public service employee, you may be a member of the Florida retirement plan.  Florida's retirement plan may be a defined benefit plan or a defined contribution plan, and/or a hybrid plan.

    The Florida Retirement System (FRS) offers the option of participating in two FRS retirement plans:  the FRS Defined Benefit (Pension) Plan (which includes DROP) and the FRS Defined Contribution (Investment) Plan. 

     

      Defined Benefit (Pension) Plan

     

    Defined Benefit (Pension) Plans guarantee a retirement benefit that is predetermined.  The employer and employee contributes a specified percentage or amount to the plan.  The amount of the retirement benefit is based on a formula that takes into account the years of service and average final salary.

     

      Investment Plan Retirement

     

    The Investment Plan retirement benefit has no fixed level at retirement. It is primarily designed to serve shorter-service and mobile employees. 

    The plan offers flexible distribution options including a lump sum option. 

     

     

      Bencor Special Pay Plan 401A

     

    The Special Pay Plan is is offered to all school board employees if you are retiring, separating from service, or entering DROP.   Employees who have accumulated "special pay" (sick leave and or vacation pay) with a value of $2500 or more will have an account established for them and their money will automatically be deposited in this account free of Social Security and Medicare Taxes, and deferral of federal income taxes.

     

      Voluntary Retirement Program - 403B, 457 and Roth 403B

     

    Saving money for retirement is often a low priority in our busy lives.  PCS offers a Voluntary Retirement Program that provides 2 pretax options and 1 post tax option for saving for retirement. Convenient savings through payroll deductions from one of the authorized investment providers included on the PCS List of Providers. 

      

    Information for Retirees

     

    This link contains general information, financial links and resources and contact information.

     

     

      Retirement Team Staff

     

    Kim Williams - Retirement Analyst

    Sheri Phillips - Benefits Assistant

    Danielle O'Brien - Clerk Specialist II

     

    Retirement Team