Plan Election Explorer

Compare the Pension Plan's projected monthly benefit to the Investment Plan's projected account balance, side by side, using your own assumed return.

Your inputs

Changes the Pension Plan multiplier and Investment Plan employer deposit rate.

$

Your annual base pay at entry into FRS.

%

Compound annual growth applied to your salary projection.

Determines AFC period and Pension Plan vesting threshold.

How long you expect to stay in FRS-covered employment before separating.

You control this assumption. It is never auto-filled from fund data. Actual Investment Plan returns will vary based on market conditions and your fund selections.

%

Enter your assumed annual return above to see the Pension Plan and Investment Plan projections side by side. The return assumption is yours — we do not suggest one.

Want more context on the two plans — contributions, vesting, DROP, the fund menu?

Read the FRS plan options explainer →

What this calculator estimates

This calculator places the two FRS retirement plans side by side for the same career. For the Pension Plan, it projects a monthly benefit from the FRS formula — Years of Service × Service-Class Percentage Value × Average Final Compensation — with AFC projected from your starting salary and annual raise. For the Investment Plan, it projects an account balance by compounding the employee contribution and the employer deposit into the account, year by year, at the annual return you enter. Both figures are estimates for educational purposes based on your inputs.

How the FRS Investment Plan projection works

The Investment Plan is a defined contribution plan: the benefit at retirement is whatever the account is worth. Each year of the projection, a percentage of that year’s salary goes into the account — the employee contribution plus the employer deposit for your membership class — and the running balance grows at your assumed annual return. The results separate total employee contributions, total employer contributions, and investment growth. The assumed return is yours to supply; the tool does not suggest one, and actual returns vary and are not guaranteed.

Why the two results are different kinds of numbers

The Pension Plan result is a monthly amount payable for life; the Investment Plan result is a one-time account balance. They are not directly interchangeable, so the tool displays them side by side and adds a breakeven view: roughly how many years the projected balance would cover the Pension Plan’s annual benefit amount. Vesting also differs: the Investment Plan vests after 1 year of service, while the Pension Plan vests after 6 years for members enrolled before July 1, 2011 and 8 years for members enrolled on or after that date. The results show whether the years of service you enter meet the Pension Plan vesting milestone.

Common questions

Is there an FRS Investment Plan calculator?
Yes — this tool projects an FRS Investment Plan account balance from your starting salary, annual raise, years of service, membership class, and assumed annual return, and shows the FRS Pension Plan benefit projected from the same inputs alongside it.
What is the difference between the FRS Pension Plan and the Investment Plan?
The Pension Plan is a defined benefit plan that pays a formula-based monthly benefit for life. The Investment Plan is a defined contribution plan in which contributions go into a personal account that the member invests, and the benefit is the account value. DROP is available only to Pension Plan members.
Can an FRS member switch plans later?
Florida law provides a one-time second election that allows one plan switch during an FRS career, with a financial true-up at the time of the switch. FRS members also have free access to financial planning through the EY planners at 1-866-446-9377 and the MyFRS Advisor Service at myfrs.com.