Employer Sponsored Plans

All Executive Service (AEX), Faculty, Administrative & Professional (A&P), and University Support Personnel System (USPS) employees participate in a State of Florida retirement program. These plans are primarily employer-funded accounts with employees making a mandatory 3% contribution regardless of the plan chosen. Plan participation is based on position type.

USPS employees will elect to participate in either the Florida Retirement System (FRS) Pension Plan or the FRS Investment Plan. AEX, Faculty, and A&P employees can participate in the State University System Optional Retirement Program (SUSORP), FRS Pension Plan or FRS Investment Plan. Faculty in the College of Medicine are mandatory SUSORP participants.

FRS Investment Plan

The FRS Investment Plan is a defined contribution plan. Participants are vested upon completion of one year of creditable service and decide how to allocate contributions among offered investment funds. The amount of the retirement benefit is determined by the employer and employee contributions and the performance of the investment fund choices.

Employee Type Retirement Plan Vesting Period Enrollment Form(s) Enrollment Deadline
A&P, Executive Service, Faculty SUSORP None ORP‐ENROLL‐1 90 days from hire date.
FRS Pension
FRS Investment
8 years
1 year
ORP‐ENROLL‐1 and ELE‐1‐EZ The last business day of the 8th month after month of hire.
USPS FRS Pension
FRS Investment
8 years
1 year
ELE‐1‐EZ The last business day of the 8th month after month of hire.

FRS Pension Plan

The FRS Pension Plan is a defined benefit plan in which participants are guaranteed a benefit at retirement. The amount of the future benefit is determined by a formula based on earnings, length of service, and membership class.

Participants are vested upon completion of 8 years of creditable service and thus eligible to receive a lifetime monthly benefit upon retirement.

Employee Type Retirement Plan Vesting Period Enrollment Form(s) Enrollment Deadline
A&P, Executive Service, Faculty SUSORP None ORP‐ENROLL‐1 90 days from hire date.
FRS Pension
FRS Investment
8 years
1 year
ORP‐ENROLL‐1 and ELE‐1‐EZ The last business day of the 8th month after month of hire.
USPS FRS Pension
FRS Investment
8 years
1 year
ELE‐1‐EZ The last business day of the 8th month after month of hire.

SUSORP

Participants are vested immediately once enrolled and decide what approved SUSORP provider company, or companies, to invest their funds. SUSORP is a defined contribution plan. The amount of the retirement benefit is determined by the employer and employee contributions and the performance of the investment funds. Employees must execute a contract with at least one Investment Provider Company to establish a SUSORP account.

Employee Type Retirement Plan Vesting Period Enrollment Form(s) Enrollment Deadline
A&P, Executive Service, Faculty SUSORP None ORP‐ENROLL‐1 90 days from hire date.
FRS Pension
FRS Investment
8 years
1 year
ORP‐ENROLL‐1 and ELE‐1‐EZ The last business day of the 8th month after month of hire.
USPS FRS Pension
FRS Investment
8 years
1 year
ELE‐1‐EZ The last business day of the 8th month after month of hire.
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