These definitions and restrictions are from the Department of Management Services webpage in the Frequently Asked Questions (FAQ) document on Retirement.
You are considered "retired" from the Florida Retirement System (FRS) if:
- You have received any benefits under the FRS Pension Plan (including DROP), or
- You have taken any distribution (including a rollover) from the FRS Investment Plan, or alternative retirement programs offered by state universities (SUSORP), state community colleges (SCCORP), state government for senior managers (SMSOAP), or local governments for senior managers.
These restrictions are especially critical for DROP participants, as returning to work too soon could result in having to repay and forfeit the large lump-sum DROP payout. If you retire and wish to come back to work here at USF, please contact the Human Resources office prior to signing any employment paperwork.
FRS Pension Plan retirees remain ineligible for renewed membership and will not earn any additional State Retirement benefits if initially reemployed on or after July 1, 2010. If you are a retiree of SUSORP, the FRS Investment Plan, the Senior Management Service Optional Annuity Program (SMSOAP), or the State Community College System Optional Retirement Program (SCCSORP), you will become a renewed member of the FRS Investment Plan or the SUSORP, depending upon the plan covering the position when you are employed in a regularly established position and you are initially enrolled on or after July 1, 2017. Please review the Department of Management Services FAQ document on Retirement for important information before applying and/or accepting a new offer of employment from USF.
HR has developed this digital guide to help retirees in the important and exciting journey through retirement. You'll find guidance on what you can and can't do as a USF/State retired employee. Please click here for a GUIDE to YOUR SUCCESSFUL RETIREMENT!