Florida Retirement System Podcast
The Florida Retirement System Podcast is designed to explain the options and choices that Florida public employees have from when they start working all the way through retirement. Your host Don Anders is the CEO and co-founder of Anders Retirement & Investment Advisors and has helped over 2,000 FRS employees navigate their options and retire on their terms.
We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. Securities and advisory services offered through Madison Avenue Securities, LLC. Member FINRA/SIPC and a Registered Investment Adviser. Anders Retirement & Investment Advisors and Madison Avenue Securities, LLC are not affiliated companies.
Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. Anders Retirement & Investment Advisors is not affiliated with, or endorsed by, the Florida Retirement System or any other governmental entity.
Florida Retirement System Podcast
FRS Podcast Episode 10: DROP Payout Option 1
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Don and Alex get into the first DROP payout option, which is a lump-sum cash-out option. As most people know, the FRS DROP account is pre-tax money, meaning that distributions to the participant is a taxable event. The FRS will send 80% of your total DROP balance to you and 20% of the total DROP balance to the IRS for taxes.