1. What is Florida Retirement DROP?

The Deferred Retirement Option Program (DROP) is a retirement program available to members of the Florida Retirement System (FRS). It allows eligible employees to retire and begin accumulating retirement benefits while continuing employment for up to 60 months.

2. How Does the Calculator Work?

The calculator estimates the DROP accumulation based on:

Where:

• Pension Amount — Monthly pension benefit
• DROP Period — Number of years in DROP program (1-5 years)
• Interest Rate — Annual interest rate applied to DROP account

Explanation: The calculation estimates the total amount that would accumulate in a DROP account over the specified period.

3. Importance of DROP Calculation

Details: Accurate DROP calculation helps FRS members plan their retirement strategy and understand the financial benefits of participating in the DROP program.

4. Using the Calculator

Tips: Enter your estimated monthly pension amount, planned DROP period in years (1-5), and the current interest rate. All values must be valid positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Who is eligible for FRS DROP?
A: Generally, FRS members who meet normal retirement eligibility requirements can participate in DROP.

Q2: What is the maximum DROP period?
A: The maximum DROP period is 60 months (5 years) for most FRS members.

Q3: How is interest calculated on DROP accounts?
A: Interest is compounded annually at rates set by the Florida Retirement System.

Q4: Can I change my DROP election date?
A: Once you elect to enter DROP, the election is generally irrevocable.

Q5: What happens at the end of the DROP period?
A: At the end of DROP, employment must terminate and you begin receiving your monthly pension benefit.