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Understanding the 2 nd Election. [Your Organization’s Name]. The 2 nd Election. Switch plans One time during FRS career Understand the impact MyFRS.com – 2 nd Election CHOICE SERVICE MyFRS Financial Guidance Line Timing is important. Switching Plans: Pension Plan  Investment Plan.

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understanding the 2 nd election

Understanding the 2nd Election

[Your Organization’s Name]

the 2 nd election
The 2nd Election
  • Switch plans
  • One time during FRS career
  • Understand the impact
    • MyFRS.com – 2nd Election CHOICE SERVICE
    • MyFRS Financial Guidance Line
  • Timing is important
switching plans pension plan investment plan
Switching Plans:Pension Plan  Investment Plan
  • No cost to you
  • Options
    • Present value + future contributions
    • Freeze Pension Plan + direct future contributions
  • Vesting caution
switching plans investment plan pension plan
Switching Plans:Investment Plan  PensionPlan
  • “Buy-in” cost
  • FRS calculates the cost
  • Cost increases monthly
  • Not enough $$: You make up the difference
  • Leftover $$: Stays in the Investment Plan until you retire
free resources
Free Resources
  • MyFRS Financial Guidance Line
    • Personalized assistance
    • Request a 2nd Election flyer
  • MyFRS.com – 2nd Election CHOICE SERVICE
    • Compare plans
    • Estimate benefits
    • Customize the information
    • Access forms
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