Change caption in the Investment Plan

Aug 6th, 2022
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How to change caption in the Investment Plan

5 out of 5
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so heres something about the frs investment plan that not a lot of people know about and even fewer know how to use it well but if youre a participant in the frs investment plan you really should know something about the self-directed option thats available and how it could be beneficial for you [Music] the frs investment plan is pretty basic when it comes to investment lineup and the choices of investments that you have to pick from that doesnt mean its not good quite the contrary in my opinion the choices they do offer are stellar but there are things lets call them gaps in the lineup that an astute investor or someone closely following modern portfolio theory as we do that youd be looking for that just arent there its like i said its kind of basic but if youre looking for more what do you do thats where the self-directed option comes in right on the myfrs.com webpage you can open an account at a brokerage firm that frs has chosen and link that account directly to your fr

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Payout Options Investment Plan. You can take a full or partial lump sum distribution of your account balance. You have a lump sum cash payment that you can use to pay health expenses or other necessary expenses (review the Tax Implications).
As a member of the FRS Investment Plan, you contribute 3 percent of your gross monthly salary on a pre-tax basis to help fund your FRS Investment Plan account. The state also contributes a percentage of your gross monthly salary based on your membership class.
While all benefit options are paid to you, the retiree, for the remainder of your lifetime, only Options 2, 3, and 4 allow you to provide a continuing monthly benefit to your beneficiary or joint annuitant in the event of your death.
Loans and hardship withdrawals are not permitted.
You are vested or eligible to receive future benefits under the FRS Pension Plan as follows: If you were initially enrolled in the FRS on or after July 1, 2011, you will be vested in the FRS Pension Plan after eight years of creditable service.
Switching Plans Youll need to buy back in to the Pension Plan. If your Investment Plan balance is less than the buy-back amount you must make up the difference out of your own money. If your Investment Plan account balance is greater than the buy-back amount, your balance will be reduced by the buy-back amount.
If you leave FRS employment before youre vested in your Investment Plan benefit, you wont be entitled to any benefit (except for a distribution of employee contributions - see below). Your account balance will be placed in a suspense account, where it will accrue actual investment earnings.

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