What type of retirement system does FHP have?
We offer a non-contributory retirement system and each member is vested after six years. Full retirement benefits are awarded after 25 years of service and the benefits are based on three percent per year, meaning a member who retires at 25 years receives 75 percent of their salary and an automatic 3 percent per year benefit increase. At thirty years, a member would receive 90 percent of their salary. Members may also choose to enter an investment plan in lieu of the state pension, whereby the State of Florida will contribute funds to a retirement account. We also have a Deferred Compensation Plan and a Deferred Retirement Option plan (DROP) to further build your retirement savings. With proper preparation, many members are able to retire at 100 percent or more of the average of the highest 5 salary years! THE SELECTION PROCESS: • HOW LONG DOES IT TAKE TO BE HIRED ONCE I APPLY? You will be hired in a trainee status when you report to the FHP Training Academy. Salary and full health and
We offer a contributory retirement system and each member is vested after six years. Full retirement benefits are awarded after 25 years of service and the benefits are based on three percent per year, meaning a member who retires at 25 years receives 75 percent of their salary and an automatic 3 percent per year benefit increase. At thirty years, a member would receive 90 percent of their salary. Members may also choose to enter an investment plan in lieu of the state pension, whereby the State of Florida will contribute funds to a retirement account. We also have a Deferred Compensation Plan and a Deferred Retirement Option plan (DROP) to further build your retirement savings. With proper preparation, many members are able to retire at 100 percent or more of the average of the highest 5 salary years!
