FRS Retirement Plans
The Palm Beach County School District participates in the Florida Retirement System (FRS). All New District employees who are also new to the Florida Retirement System (FRS) will choose to participate in either the FRS Pension Plan or the FRS Investment Plan.
FRS Pension Plan
The FRS Pension Plan is a defined benefit plan, in which you are promised a benefit at retirement if you meet certain criteria. The amount of your future benefit is determined by a formula, based on your earnings, length of service, and membership class, and may be adjusted by a cost-of-living increase each July. (From MyFRS.com)
FRS Investment Plan
The FRS Investment Plan is a defined contribution plan, in which employer and employee contributions are defined by law, but your ultimate benefit depends in part on the performance of your investment funds. (From MyFRS.com)