D.R.O.P.

The Deferred Retirement Option Program (DROP), implemented on July 1, 1998, is a program that allows you to retire without terminating your employment for up to 5 years while your retirement benefits accumulate.  DROP accounts earn interest compounded monthly at an effective annual rate of 1.3% for DROP participation beginning on or after July 1, 2011. The annual interest rate for DROP participation beginning before July 1, 2011, is 6.5%.  Interest is earned through the month of DROP employment termination or death.  No interest is earned on benefits on deposit for less than 1 month.  This program is available to eligible members of the Florida Retirement System who are in the FRS Pension Plan; it is also available to eligible members of the Teachers' Retirement System (TRS) and the State and County Officers and Employees' Retirement System (SCOERS) — defined benefit plans that were closed to new members when the FRS was created in December 1970. To be eligible to participate, you must be an active member of one of these plans. (FRS renewed members and members of the various optional retirement programs available under the FRS are not eligible to participate in DROP.)


For more information about the D.R.O.P. program see this Guide to Frequently asked Questions about DROP.

Estimate the Value of Your DROP Account
The following table illustrates the estimated value of a DROP account. To estimate how much your DROP account will be worth, find your estimated monthly retirement benefit on the left side of the table. Next, find the number of years you plan to participate in DROP. The amount at the intersection of the selected row and column is the estimated value of your DROP account. For example, if your estimated monthly benefit is $800 and you want to participate in DROP for 3 years, the estimated value of your DROP account in 3 years will be $32,534.

	Years of Participation in DROP
Monthly Benefit	1	2	3	4	5
$100	$1,235	$2,588	$4,067	$5,681	$7,441
$500	$6,177	$12,940	$20,334	$28,405	$37,203
$800	$9,883	$20,704	$32,534	$45,448	$59,525
$1,000	$12,353	$25,880	$40,668	$56,810	$74,406
$1,500	$18,530	$38,820	$61,002	$85,215	$111,609
$2,000	$24,707	$51,760	$81,336	$113,620	$148,812
$2,500	$30,883	$64,701	$101,670	$142,025	$186,015
$3,000	$37,060	$77,641	$122,004	$170,430	$223,218
$3,500	$43,237	$90,581	$142,338	$198,835	$260,421
$4,000	$49,414	$103,521	$162,672	$227,240	$297,624
$4,500	$61,767	$129,402	$203,342	$284,054	$372,037

Source: Florida Retirement System