Important information for Florida Retirement System

Investment Plan Members

Are you considering retiring soon? To be eligible for payment of your accrued sick leave you must be officially retire with SCPS and FRS.

• FRS Investment Plan Information

Per SCPS Board Policy:  In order for the employee to receive terminal pay for unused accumulated sick leave days at the time of retirement or for the employee's beneficiary to receive terminal pay at the time of the employee's death, the following requirements must be met:

1. Employees must be older than forty-two (42) years of age and have a minimum of 6 years of service with the district.
2. The employee in the Florida Retirement System's Investment Plan must be employed by the SCPS District at the time of termination or death.
3. Employees in the Investment Plan are not retired until the employee has taken a distribution from their Florida Retirement System Investment Plan. Employees in the Investment Plan at the time of termination must contact the Division of Florida Retirement and request a distribution from their Investment Plan.
4. The district must receive the notification from the Florida Retirement System that the employee has retired within one-hundred twenty days (120 days) of termination from the district. Once the District receives notice from the Florida Retirement System that the employee has taken their distribution and are now retired the district will pay the employee for unused accumulated sick leave days.

First Steps for Investment Plan Retirement

• Call My FRS Financial Guidance Line @ 1-866-446-9377 to determine eligibility for distribution and if so, when?
• Review the Investment Plan Members termination kit.
• Contact Alana Wakelyn, Lead Payroll Specialist, at alana_wakelyn@scps.us.

Further information:

• Investment plan video
• Investment plan newsletter