Human Resource Services
Information for New Employees
You Have an Important Choice to Make!
As a new employee hired in a permanent position, you must choose one of the following retitement plans available to State University System employees, depending on your salary plan.
All retirement-eligible employees may elect to participate in the:
• FRS Pension Plan or
• FRS Investment Plan
In addition, employees who have been hired into a TEAMS-A or faculty position are eligible for a third option*:
• State University System Optional Retirement Program (SUSORP)
This option must be chosen within 90 days of your hire date, or you lose the opportunity to participate in the SUSORP. If you choose the SUSORP, you must open a contract with one of the approved vendors, and complete an ORP-16 form. Please contact us at (352) 392-4941 or retirement@ufl.edu for further information regarding your plan choices.
All three plans are completely funded by the University of Florida, and administered by the State of Florida. (Elective employee contributions may be made by participants in the SUSORP.)
*Any person appointed on or after July 1, 1989, to a faculty position in a college at the J. Hillis Miller Health Center which has a faculty practice plan must participate in the Optional Retirement Program, as per Florida State Statute 121.051.
Adjunct faculty, postdocs, house staff, and hourly and exempt OPS employees (who are not otherwise exempt from social security taxes, also known as OASDI or Old Age, Survivors, and Disability Insurance) are eligible to participate in the FICA Alternative Plan.
Other retirement savings opportunities are available to every employee through a 403(b) or 457 plan.
Our Retirement and Financial Planning Series is open to all employees, and provides speakers on a number of topics that impact your financial well-being.
We urge you to read the information provided in the links below to assist you in making informed decisions regarding your retirement planning.
Links to useful Information
- Retirement Tutorial (must view in Internet Explorer) | Download a PDF to follow along with
- State University System SUSORP-Eligible Employees Brochure (PDF)
- Retirement Guide for the Regular Class, 2006 Edition (PDF)
- Retirement Guide for the Special Risk Class, 2006 Edition (PDF) (Law enforcement and certain forensic medical personnel)
- Optional Retirement Program
- In-State and Out-of-State Service (PDF)
- Tax-Deferred Annuities
- Roth 403(b)
- 457 Deferred Compensation
- Retirement and Financial Planning Series schedule
Make sure to visit the New Employee web page for all information related to your new employment at the University of Florida. OPS employees may also refer to OPS employment — at a glance.