Exiting DROP... Your Options

Exiting DROP... Your Options

| November 14, 2022

If you're a state employee exiting FRS Deferred Retirement (known as DROP), you should know your options. Exiting DROP requires that you take the full amount you’ve saved… and that carries with it serious tax implications. Or you can remain with FRS and put some or all of your DROP funds into the FRS Investment Plan. Finally, you can move all or part of the DROP funds you have earned and invest them with an outside firm.

Seeking an alternative to the FRS Investment Plan is worth considering, when compared to the more traditional offerings of FRS. You may discover that DROP funds can be invested in other creative ways that may better fit your needs in retirement.

At Retirement Workshop 20/20, we can help you evaluate the overall options for your DROP funds and make sure you’re maximizing the benefits you’ve earned. If you have questions about benefits distribution, taxes, Social Security, Medicare or estate planning, our team of professionals can offer objective guidance, personal service…. and no fees.

Call us to schedule a fifteen minute, no obligation consultation today. Our offices are conveniently located throughout Florida, and we’re ready to help you achieve the retirement you deserve.