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Florida Retirement System (DROP)
If you’re an employee of the employees of the Florida Retirement System (FRS), you may need help understanding the Deferred Retirement Option Plan (DROP). Suncoast Investment Services can help. Visit our dedicated website to learn more.
Understanding DROP
How Does DROP Work?
- DROP allows eligible employees of the Florida Retirement System (FRS) to retire while continuing to work for up to 5 years (8 years for teachers under certain circumstances) while continuing to accrue monthly retirement benefits in an FRS Trust Fund.
- DROP is available to employees in the FRS Pension Plan once vested and have reached normal retirement age.
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*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Suncoast Credit Union and Suncoast Investment Services are not registered as a broker dealer or investment advisor. Registered representatives of LPL offer products and services using Suncoast Investment Services and may also be employees of Suncoast Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Suncoast Credit Union or Suncoast Investment Services. Securities and insurance offered through LPL or its affiliates are:
Suncoast Credit Union provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay Suncoast Credit Union for these referrals. This creates an incentive for Suncoast Credit Union to make these referrals, resulting in a conflict of interest. Suncoast Credit Union is not a current client of LPL for advisory services. Please visit LPL.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
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