Understanding the 2 nd Election [Your Organization’s Name] Revised March 2015.

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Presentation transcript:

Understanding the 2 nd Election [Your Organization’s Name] Revised March 2015

MyFRS Financial Guidance Line at The 2 nd Election Changing plansChanging plans One time during FRS careerOne time during FRS career Understand the impactUnderstand the impact MyFRS.com – 2 nd Election CHOICE SERVICEMyFRS.com – 2 nd Election CHOICE SERVICE MyFRS Financial Guidance LineMyFRS Financial Guidance Line Timing is importantTiming is important Changing plansChanging plans One time during FRS careerOne time during FRS career Understand the impactUnderstand the impact MyFRS.com – 2 nd Election CHOICE SERVICEMyFRS.com – 2 nd Election CHOICE SERVICE MyFRS Financial Guidance LineMyFRS Financial Guidance Line Timing is importantTiming is important

MyFRS Financial Guidance Line at Changing Plans: Pension Plan  Investment Plan No cost to youNo cost to you OptionsOptions Present value + future contributionsPresent value + future contributions Freeze Pension Plan + direct future contributionsFreeze Pension Plan + direct future contributions Vesting cautionVesting caution No cost to youNo cost to you OptionsOptions Present value + future contributionsPresent value + future contributions Freeze Pension Plan + direct future contributionsFreeze Pension Plan + direct future contributions Vesting cautionVesting caution

MyFRS Financial Guidance Line at Changing Plans: Investment Plan  Pension Plan “Buy-in” cost“Buy-in” cost FRS calculates the costFRS calculates the cost Cost increases monthlyCost increases monthly Not enough $$: You make up the differenceNot enough $$: You make up the difference Leftover $$: Stays in the Investment Plan until you retireLeftover $$: Stays in the Investment Plan until you retire “Buy-in” cost“Buy-in” cost FRS calculates the costFRS calculates the cost Cost increases monthlyCost increases monthly Not enough $$: You make up the differenceNot enough $$: You make up the difference Leftover $$: Stays in the Investment Plan until you retireLeftover $$: Stays in the Investment Plan until you retire

MyFRS Financial Guidance Line at Free Resources MyFRS Financial Guidance LineMyFRS Financial Guidance Line Personalized assistancePersonalized assistance Request a 2 nd Election flyerRequest a 2 nd Election flyer MyFRS.com – 2 nd Election CHOICE SERVICEMyFRS.com – 2 nd Election CHOICE SERVICE Compare plansCompare plans Estimate benefitsEstimate benefits Customize the informationCustomize the information Access formsAccess forms MyFRS Financial Guidance LineMyFRS Financial Guidance Line Personalized assistancePersonalized assistance Request a 2 nd Election flyerRequest a 2 nd Election flyer MyFRS.com – 2 nd Election CHOICE SERVICEMyFRS.com – 2 nd Election CHOICE SERVICE Compare plansCompare plans Estimate benefitsEstimate benefits Customize the informationCustomize the information Access formsAccess forms