Florida Retirement System (FRS) participants nearing the end of their Deferred Retirement Option Program (DROP) face a pivotal decision: what to do with their accumulated DROP funds. For thousands of school employees, public service professionals, and FRS members across the state, BENCOR has become the go-to provider for guidance and rollover support. In fact, BENCOR is the largest recipient of DROP rollovers in Florida—a position earned through decades of experience, personalized service, and a deep understanding of the FRS system. 

Let’s explore what sets BENCOR apart and why so many Floridians trust them to help navigate one of the most important financial transitions of their lives. 

Deep Understanding of the FRS and DROP Programs 

BENCOR has specialized in working with FRS members for over 30 years, developing a focused expertise in the DROP program and its nuances. This long-standing experience allows the team to guide participants through each stage of DROP—from enrollment and participation to exit strategies and post-retirement planning. 

This singular focus on the Florida system means BENCOR isn’t trying to fit participants into a general retirement model. Their solutions are built specifically for the needs and rules of the FRS and DROP, creating a level of relevance and clarity that general firms may not provide. 

A Trusted Relationship with School Districts and Public Employers 

Part of BENCOR’s influence stems from its long-standing relationships with public institutions throughout the state. Many Florida school districts and public employers directly partner with BENCOR to offer retirement-focused services to their employees, including the ability to transfer DROP funds into a tax-advantaged BENCOR account, such as the Special Pay Plan.

These employer relationships have helped reinforce BENCOR’s reputation as the default, trusted resource for DROP participants looking for guidance they can rely on. 

Personalized Support During a Critical Transition 

Exiting DROP is more than just filling out forms—it’s a moment that carries long-term financial implications. Participants often face questions such as: 

• Should I take a lump-sum payout or roll the funds over? 

• What are the tax consequences of each option? 

• How do these decisions affect my income plan and estate strategy? 

BENCOR offers one-on-one consultations tailored to each participant’s goals and circumstances. Their advisors help clients evaluate payout options, assess tax impacts, and structure rollover plans that align with both short- and long-term objectives. This level of support helps explain why so many FRS members choose BENCOR over other providers. 

Tax-Deferred Plans Built for FRS Participants 

Another key reason BENCOR is a leader in DROP rollovers in Florida is its suite of specialized retirement plans. These include: 

• 401(a) Special Pay Plans that allow for DROP funds and unused sick leave payouts to be rolled over tax-deferred. 

• 403(b) Plans tailored to the retirement needs of school employees and public sector workers. 

These accounts provide ongoing tax deferral, flexible investment options, and the ability to structure withdrawals in a way that supports each participant’s retirement income strategy. 

Commitment to Clarity and Education 

Retirement planning can feel overwhelming, especially when it comes to understanding payout rules, tax implications, and investment risks. BENCOR stands out by delivering information in a clear, supportive, and jargon-free way. Their team educates participants throughout the decision-making process, so they can confidently take the next step in their retirement journey. 

Why So Many Choose BENCOR for Their DROP Rollovers 

When you combine decades of experience, public sector partnerships, specialized account offerings, and personalized support, it becomes clear why BENCOR is the largest recipient of DROP rollovers in Florida. They’ve created a process that helps FRS members feel informed, prepared, and confident in how they handle their retirement savings. 

Ready to Explore Your DROP Rollover Options? 

If you’re nearing the end of your DROP participation, now is the time to explore your rollover options. BENCOR DROP Support can help you evaluate your choices, structure a plan that fits your needs, and avoid costly mistakes. Schedule your complimentary consultation with a BENCOR advisor today to start planning for the next chapter of your retirement.