Retirement 101: Understanding the Florida Retirement System (FRS)
An Introductory Guide for Florida Educators For Florida educators, planning for retirement involves navigating the intricacies of the Florida Retirement System (FRS). As a cornerstone of retirement benefits for educators in the state, a comprehensive understanding of the FRS is crucial for making informed decisions that align with long-term financial goals. In this article, we’ll […]
Life After Teaching: Transitioning to a Fulfilling Retirement & Keeping Your Finances Sharp
Embracing Change and Navigating the Next Phase There may have been a time not too long ago when it was difficult to envision life after teaching. Educators are passionate, hard-working people and sometimes retirement sneaks up on them! It can be an emotional topic because retirement marks the end of one chapter and the beginning […]
Rolling Your DROP Plan to BENCOR: Understanding the Benefits
A Teacher’s Lesson to Retirement As educators approach the intersection of retirement and continued service, the Deferred Retirement Option Program (DROP) emerges as a valuable component of the Florida Retirement System (FRS) Pension Plan. Designed to provide flexibility and financial advantages, DROP offers educators the opportunity to transition smoothly into retirement while still contributing to […]
Navigating Taxes in Retirement for Florida Educators: Smart Strategies to Know
Six Considerations to Help You Make Informed Financial Decisions Retirement is an exciting phase – one you have likely worked toward for decades. Of course, it comes with its own set of financial considerations, especially when it comes to taxes. For Florida educators who have dedicated their careers to shaping young minds, understanding the tax […]
Unlocking Financial Success: 5 Reasons to Schedule a Comprehensive Review with a Financial Advisor
There’s No Time Like the Present to Take Control of Your Financial Future Money is a very personal topic, isn’t it? You may even find it difficult or uncomfortable to discuss, which leads many people to put off speaking with a financial advisor about their retirement plans. However, if you are ready to take control […]
Online Banking and Shopping: Security Tips for Senior Educators
As retired Florida educators embrace the convenience of online banking and shopping, it’s essential to prioritize cybersecurity to safeguard personal and financial information. With the rise of digital transactions, cybercriminals are increasingly targeting older adults, making it crucial for retirees to stay vigilant and implement security measures to protect themselves from fraud and identity theft. […]
Health at Your Fingertips: Utilizing Technology for Health Monitoring and Fitness
In retirement, maintaining good health is essential for enjoying life to the fullest. Fortunately, advancements in technology have revolutionized how retirees can monitor their health and stay fit from the comfort of their homes. From wearable devices to mobile apps, a plethora of tools and resources are available to help retirees take charge of their […]
Retirement Planning Mid-Year Review: BENCOR’s Tools and Resources for Monitoring Retirement Plans
Don’t ‘Set and Forget’ Your Retirement Plan As the midpoint of the year approaches, it’s an opportune time for educators to conduct a comprehensive review of their retirement plans. Whether you’re actively contributing to the Deferred Retirement Option Program (DROP) or nearing retirement, staying on top of your financial goals and retirement strategies is crucial […]
Exiting DROP Early: Is it Right for You?
Let BENCOR DROP Support Help You Make Critical Financial Decisions For educators enrolled in the Deferred Retirement Option Program (DROP), the decision of when to exit the program is a pivotal one. While the program offers a structured pathway to retirement, some educators may contemplate exiting DROP before the scheduled end date. But is exiting […]
DROP Benefit Maximization: A Step-by-Step Guide for 2025
As educators participating in the Deferred Retirement Option Program (DROP) enter a new calendar year, it’s a smart time to assess whether you are maximizing the benefits offered by this unique retirement program. With careful planning and strategic decision-making, educators can optimize their DROP experience to secure a comfortable retirement future. Below you’ll find a […]