What is the Deferred Retirement Option Program (DROP)?
The DROP is a Pension Plan program under which you may retire and have your monthly retirement benefits remain in the Florida Retirement System (FRS) Trust Fund instead of being paid directly to you or deposited in your bank. Your benefits will earn interest for you, tax deferred, for as long as you participate in the DROP. In the meantime you continue to work for your FRS employer for a specified and limited period up to the date you pre-selected to stop participation in DROP. When the DROP period ends, you must terminate employment. At that time, you will receive payment of the accumulated DROP benefits, and begin receiving your FRS monthly retirement benefit (in the same amount as determined at retirement, plus annual cost-of-living increases).
