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For nearly 30 years BENCOR has proudly served Florida educators with all of their DROP Support needs. We specialize in helping educators and public employees across the United States seamlessly make the transition to retirement. As the administrators of qualified retirement plans for hundreds of school districts, municipalities, and community colleges nationwide we are the leading designer of Special Pay and FICA Alternative Plans in the country.
why choose
As an educator, your mission was to help your students prepare for a bright future. This meant giving it your all and spending countless hours creating thoughtful lesson plans. Now it’s time to create the most important lesson plan of all, your retirement plan. We are your Bencor DROP Support headquarters, and we’re here to help you make the most out of your retirement! Whether it’s traveling the world, spending time with loved ones, volunteering, or taking up a new hobby, we’ll create a customized retirement plan designed specifically for you and your retirement goals.
For nearly 30 years Bencor has proudly served Florida educators with all of their DROP Support needs. That means we bring a wealth of knowledge and resources to help you plan for retirement. You can meet with a Bencor Advisor to get your questions answered about the Florida Retirement System (FRS) and DROP and discuss how they can help you create dependable lifetime income streams with strategies designed to help you avoid overpaying on taxes.
The Deferred Retirement Option Program (DROP) is a voluntary retirement program available to FRS Pension Plan members who qualify for normal retirement. It allows you to delay your retirement for up to 96 months from the point where you first reach your normal retirement date or your eligible deferral date.
Once you have entered DROP, you continue to work for an FRS employer and earn a salary while your retirement benefits accumulate in the FRS Trust Fund and earn tax-deferred interest. However, you stop earning retirement service credit due to the fact that you are considered to be retired. Upon exiting DROP, you will receive your accumulated funds and your monthly retirement benefit. You must terminate your FRS employment at that point to avoid forfeiting your DROP benefits.
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Getting your DROP questions answered is easy! Schedule a complimentary meeting with a Bencor DROP Advisor today!
BENCOR/MidAmerica, Inc. financial professionals are registered representatives of and offer only securities and advisory services through PlanMember Securities Corporation. A registered broker/dealer, investment advisor and member FINRA/SIPC. 6187 Carpinteria Ave. Carpinteria CA 93013. (800) 874-6910 PlanMember is not the broker/dealer for U.S. Retirement Partners or U.S. Employee Benefits Services Group. BENCOR/MidAmerica, Inc., U.S. Retirement Partners and U.S. Employee Benefits Services Group are independently owned and operated companies and not affiliated with PlanMember Securities Corporation.
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Discover the path to a rewarding retirement with BencorDROP Support, dedicated to supporting Florida educators.
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Teacher’s Retirement Prep: BENCOR guides you through FRS, DROP, Social Security strategies, and more. Let’s plan your retirement lessons!
We're thrilled to provide Florida educators with an enhanced online experience for all your retirement needs. Explore our updated resources, connect with our experts, and make the most of your retirement journey.
