Florida · FRS · One more year

One more Florida FRS year: what it adds

In the Florida Retirement System (FRS) Pension Plan, administered by the Florida Division of Retirement, each year you keep working can add to your benefit in up to four ways.

Florida specificsShort answer: one more year adds a year to the FRS formula at 1.6% to 1.68% of your AFC, removes 5% of any early-retirement cut, and adds $7.50 a month to your health subsidy. Once you reach normal retirement, DROP is the other choice. Try our example in the calculator.

Our example

A member enrolled before July 1, 2011, 59 with 28 years and a $50,000 AFC, held flat. Load it in the calculator

Our example (Florida FRS)
Retire onYearsRate · cutA monthChange
Jul 1, 2026age 59281.6%−13.33%$1,617.78—
Jul 1, 2027age 60291.6%−8.33%$1,772.22+$154.44
Jul 1, 2028age 61301.6%$2,000.00+$227.78
Jul 1, 2029age 62311.63%$2,105.42+$105.42
Jul 1, 2030age 63321.65%$2,200.00+$94.58
Jul 1, 2031age 64331.68%$2,310.00+$110.00

From $1,617.78 to $2,310.00 a month over 5 years. The jump in the first years comes from reaching 30 years, which removes the early cut. Handbook (2026), p. 46, Early Retirement; Pension Plan SPD (July 1, 2026), p. 4, Service Retirement; Seminar slides (Sept. 24, 2025), slide 31; F.S. 121.091(3)(a)1.; Handbook (2026), p. 30, Percentage Value for a Year of Retirement Credit; Pension Plan SPD (July 1, 2026), p. 5, Benefit Calculation; Seminar slides (Sept. 24, 2025), slide 24

Projected service and milestone dates Check with FRS

The calculator projects vesting and the 30- or 33-year date at one month of credit per calendar month. Teachers earn credit by work year (9, 10 or 11 months can be a full year), so your real dates come from FRS's records.

We add one year of service per year you keep working.

What would settle it: Your Member Annual Statement or FRS Online service history.

Three smaller things a year changes

Before choosing DROP, the Division suggests reviewing your whole financial picture, including your Social Security benefits, and asking for estimates that compare DROP with working longer and retiring later. The free FRS Financial Guidance Line is 866-446-9377. DROP Guide (2026), p. 12

Next: DROP or payment options.

Questions

What does one more year add to an FRS pension?

A year of service in the formula; possibly a higher percentage value on the chart; less of any early-retirement cut; and maybe a better year in your average final compensation.

Should I join DROP instead?

Once you reach normal retirement, DROP fixes your benefit and pays it into an account for up to 96 months while you work. Working on outside DROP keeps adding service instead. The calculator shows both.

Source: FRS Pension Plan Member Handbook, 2026 Edition, pp. 23, 29, 30, 40, 43, 46, 58. Also: DROP Guide (2026), pp. 3, 7, 12, 17, 25; Pension Plan SPD (July 1, 2026), pp. 4, 5, 9; Seminar slides (Sept. 24, 2025), slides 13, 21, 24, 31; F.S. 112.363, 121.091, 121.101. Last reviewed .