Department of Management Services

Building Your Financial Future

As an employee for the state you build your financial future in several ways:

  • The Florida Retirement System (FRS) offers two retirement programs to choose from which are both funded by state employer contributions and employee contributions:
    • The FRS Pension Plan – You receive a set, monthly benefit based on your age at retirement, salary, position, and how long you worked for the FRS.
    • The FRS Investment Plan – You receive the balance of your investment account; based on how well the plan performed.
  • The Deferred Compensation Plan allows you to set aside additional funds for retirement withheld from your paycheck before taxes. You decide how to invest your money among the many options available through the plan. 
  • Social Security and Medicare federal programs are funded by equal contributions from you and the state.
Use the worksheet below to get an idea of what this can mean for your future:


Annual Salary

Estimated Future FRS Pension Plan Value (monthly Option 1 benefit at normal retirement age)


In 6 years*

In 8 years

In 10 years

In 15 years

In 20 years

In 25 years

In 30 years

In 33 years

Estimated monthly FRS Pension Plan benefit earned

Estimated Value of Your Deferred Compensation Plan Account

If you save 6 percent of pay and your account's investment return averages 7 percent per year

*Note: If you are initially enrolled in the FRS Pension Plan on or after July 1, 2011, you must work a minimum of eight years to be vested and eligible for a monthly retirement benefit.

Disclaimer - Please note that these are illustrative estimates only and your personal situation may vary. Estimates are calculated as if all your service is in the same classification and at the same annual salary, that you stay with the state continuously until the dates shown and you make consistent deferred compensation contributions without withdrawals.

You can use the Social Security Administration's (SSA's) online estimator tool to calculate your monthly Social Security benefit.

Use the estimating tools at and