In January 2015, the District implemented an Early Notification Retirement/Resignation Incentive Rewards Program. 
The program goal is to maintain high quality instruction in every classroom by awarding eligible instructional employees, who provide early notice to the District of their intent to retire/resign. The program award for this year is a one-time $500 payment and two (2) months of continued employee benefits. This program will allow our teachers an opportunity to plan for their separation from the District and allow the principal to proceed with the recruitment and selection process prior to the teacher's exit date.

Resignation/Retirement Form

2025 Early Incentive Retirement Memo FAQs

Prior to 2002, the Florida Retirement System offered one retirement option: the FRS Pension Plan. It provided a retirement benefit based on years of service at retirement, an employees' highest five years of pay and FRS membership class during the time an employee is with an FRS employer.

Today, employees have a choice to either participate in the FRS Pension Plan or participate in the FRS Investment Plan. The FRS Investment Plan lets employees decide how to allocate employers' monthly contributions among one or more investment funds.

Both FRS options are funded by the School Board of Broward County, Florida and the employee. Below is a summary of the key differences between the FRS Pension Plan and the FRS Investment Plan.

(See Pension / Investment Overview table below) 

DIFFERENCES	FRS PENSION PLAN	FRS INVESTMENT PLAN
Plan Type	Defined benefit retirement plan.
Who Contributes	Monthly contributions are employer-employee paid.	Monthly contributions are employer-employee paid.
How it Works	Monthly contributions based on a percent of salary and FRS membership class - paid to a trust fund for all FRS members. Benefits are based on a formula (years of service, highest 5 years of salary, FRS membership class).	Monthly contributions based on a percent of salary and FRS membership class - paid to employees' accounts. Benefits are based on employees' account value (contributions plus investment earnings less expenses and losses).
Who Invests	The State Board of Administration (SBA) invests the Pension Plan Trust Fund by choosing investment strategies and investment firms.	Employees choose how contributions are allocated among various investment funds. The SBA chooses private investment firms to manage the investment funds.
Who Assumes the Investment Risk and Rewards	FRS and employers.	You.
Other Factors Influencing Employees' Benefit Levels	The length of an employee's FRS service is the most important, but so are other factors, including salary growth, FRS membership class, vesting, inflation and DROP participation.	The length of an employee's FRS service is the most important, but so are other factors, including salary growth, FRS membership class, vesting, inflation and DROP participation.
Vesting (Benefit Ownership)	If you enrolled in the FRS prior to July 1, 2011, you need to have 6 years of service with an FRS employer to be vested in your Pension Plan benefit. If you enrolled in the FRS on or after July 1, 2011, you must have 8 years of service to vest.	After one year of FRS service.
Amount of Benefit Paid at Retirement	Amount fixed by formula and employee's choice of payment option.	Amount based on employee's account value and employee's choice of payment option.
Will Benefits Continue to Grow if Employee Changes Employers?	Yes, if an employee moves to another public sector employer participating in the FRS. Otherwise, benefit is frozen until retirement.	Yes, if an employee moves to another public sector employer participating in the FRS. Otherwise, benefit is frozen until retirement
Retirement Income Options	Monthly lifetime payments, guaranteed by the FRS. Benefit reduction for early retirement. Other lifetime options provide for payments to surviving beneficiary. Under current law, benefits increase 3% each July.	Employee decides how and when the account balance is withdrawn after termination. Employee can use some or all of account to buy monthly lifetime payments guaranteed by a private sector insurance firm. Payments include survivor benefit options and a 3% annual benefit increase option.
Deferred Retirement  Option Program (DROP)  Participation	Employees are eligible to participate in DROP after reaching normal retirement eligibility.	Employees are not eligible to participate in DROP.

In addition to the above information, the Florida Retirement System also offers individuals an opportunity to increase their retirement benefit by purchasing:

• prior service (as approved by the State of Florida, Division or Retirement)
• certain military service
• board approved leave of absence
• in-state and / or out-of state service (as approved by the State of Florida, Division of Retirement)
  
  

To obtain more information on the Florida Retirement System, call FRS at (844) 377-1888, or call "My FRS Financial Guidance Line" at (866) 44-My-FRS/(866) 446-9377 for the Investment Plan.

The three major elements of your retirement portfolio are benefits from pensions, savings and investments, and Social Security benefits.

To help you plan for retirement, each year the Social Security Administration sends you your personal Social Security Statement, which gives you an estimate of the monthly benefit amounts you and your family may qualify for now and in the future.

Choosing the month you start to get benefits is an important decision. Social Security Administration representatives will be glad to discuss it with you and answer any questions you may have.

To obtain more information on Social Security or related services, you may contact Social Security Administration at (800) 772-1213.

The BENCOR National Plan includes two tax-qualified, defined-contribution retirement investment plans. Approved by the Internal Revenue Service (IRS) and offered by BENCOR, Inc. (BENCOR), the Plan is divided into two parts: the FICA Alternative Plan and the Special Pay Plan.

To obtain more information on the BENCOR National Plan, you may contact BENCOR, Inc. at (954) 425-0665 or toll free (866) 296-9712.

BENCOR Special Pay Plan

BENCOR Special Pay Plan FAQ 

Special Pay Plan Easy Access

 

FICA Alternative

FICA Alternative FAQ

FICA Alternative Easy Access

BENCOR Advisors:

Kevin Semisch (954) 425-0665

John Novoa     (954) 425-0665

Deferred Retirement Option Program

DROP Enrollment Packet 

Please submit packet to the Benefits Department

Thinking About Retirement?

Here are a few things that you will need to do:

FLORIDA RETIREMENT SYSTEM (FRS)

Contact the Florida Retirement System (FRS) at (844) 377-1888.

• Request an audit, based on the month you are planning to retire.
• Once you receive your FRS Audit and decide on the month you want to retire, contact the Benefits Department at (754) 321-3100 approximately three (3) months prior to your planned retirement date and request to speak with a Retirement Specialist; request a Retirement Packet (Pension, Investment or DROP).
• If you are exiting DROP, contact the Benefits Department at (754) 321-3100 approximately three (3) months prior to your planned retirement date and request to speak with a Retirement Specialist; request a Retirement Packet.
• You will also be scheduled to attend the next available Retirement Session via TEAMS, where your Retirement documents will be reviewed.

SOCIAL SECURITY RETIREMENT
Social Security is part of the retirement plan for most American workers. It provides replacement income for qualified retirees and their families. The Retirement section of their website helps you better understand the program, the application process, and the online tools and resources available to you.

• While you are awaiting your FRS Audit, please visit the Social Security Administration (SSA) website at www.ssa.gov to obtain important information.

MEDICARE
If you will turn 65 years old within three (3) months prior to retiring or you have already reached age 65, you can use SSA’s online application to apply for both Medicare and Social Security retirement benefits at the same time or you can use it to apply for Medicare only. To learn more about your Medicare options, review the section on Medicare Benefits.

Ready. Set. Retire.

Aurea Sweet aurea.sweet@browardschools.com

Employees with last names beginning with A-K

Brittany L. Moncrief at brittany.moncrief@browardschools.com

Employees with last names beginning with L-V

Shelly Fauklner at shelly.faulkner@browardschools.com

Employees with last names beginning with W-Z