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 […]
DROP and Degrees: Navigating Retirement and College Savings as a Florida Educator
Finding a Balance That Gives You Retirement Security As a Florida educator, planning for retirement is a significant milestone, but it’s often intertwined with other financial goals, including saving for your child’s college education. Many parents grapple with the dilemma of whether to prioritize their retirement savings or their child’s college fund. This decision becomes […]
Retirement Income Planning: Making the Most of Your Retirement ‘Paycheck’ to Enjoy Your Hobbies and Interests
Retirement marks a significant milestone in life, offering the promise of leisure, exploration, and pursuing long-awaited passions. However, to fully embrace the joys of retirement, it’s essential to have a solid plan in place for managing your retirement income effectively. By carefully strategizing and maximizing your retirement ‘paycheck,’ you can ensure that you have the […]
Investing Wisely After Retirement: Tax-Efficient Strategies for Florida Educators
Retirement marks the culmination of a lifetime of hard work and saving, but it also signals a shift in financial planning priorities. While building wealth for retirement is crucial, managing and preserving those assets in a tax-efficient manner becomes paramount in retirement. For Florida educators embarking on this new chapter of life, understanding tax-efficient investment […]
Unique Retirement Planning Challenges for Women: Social Security Benefits and Marital Status
Retirement planning presents unique challenges for women, influenced by factors such as longer life expectancy, lower lifetime earnings, and diverse marital statuses, to name a few. Understanding the intricacies of Social Security benefits and navigating marital status complexities is essential for women to achieve financial security in retirement. In this article, we face the topic […]
Health Insurance in Retirement: What Educators Need to Know (Medicare and More)
Retirement planning for educators involves not only securing financial stability but also addressing crucial aspects like health insurance. After all, as we age, we are likely to require more healthcare services. Navigating the complexities of healthcare during retirement requires careful consideration and strategic decision-making. In this guide, we’ll explore key elements that educators should be […]
DROP Deep Dive: How It Works and Who It’s For
Welcome to your introduction to DROP! The Deferred Retirement Option Program (DROP) is a critical element of the Florida Retirement System (FRS) Pension Plan, offering a unique blend of benefits for educators who are at the cusp of retirement but choose to continue working. Understanding the nuances of DROP is key to making informed decisions […]