Understanding the 2 nd election
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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