Transcription of SUMMARY PLAN DESCRIPTION - MyFRS
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SUMMARY PLAN DESCRIPTION - MyFRS
Florida Retirement SystemSUMMARY PLANFRS Investment PlanDESCRIPTIONJuly 2021 TABLE OF CONTENTS DISCLAIMER .. 4 INTRODUCTION .. 5 INVESTMENT 6 Defined .. 6 plan Information .. 6 Amendments or Termination of the plan .. 8 Public Records Exemption .. 8 Rights to a Benefit .. 9 Situations Affecting Your Investment plan Benefits .. 11 INVESTMENT plan HYBRID 13 MEMBERSHIP .. 14 Classes of Membership .. 14 Investment plan Eligibility Requirements .. 15 Optional Retirement Programs .. 15 Dual Membership Not Allowed .. 16 Social Security Coverage .. 16 Portability .. 16 Employment Status Types .. 17 ENROLLING IN THE INVESTMENT plan .. 18 Determining Pension plan Present Value .. 19 Cancelling a Retirement plan Election .. 20 CONTRIBUTIONS .. 21 BENEFICIARY DESIGNATION .. 23 YEARS OF CREDITABLE SERVICE .. 24 VESTING .. 25 NORMAL RETIREMENT .. 27 INVESTMENT FUNDS .. 28 Changing Investment Funds.
4 The MyFRS Financial Guidance Program — Use It No Matter Which Plan You Choose Phone: MyFRS Financial Guidance Line: 1-866 -446-9377 (or Telecommunications Relay Service 711) • Online: MyFRS.com • Retirement and Financial Planning Workshops offered in some locations DISCLAIMER . This summary plan description is a summary written in nontechnical terms of …
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