Retirement
Overview
The University of South Florida provides employees the opportunity to participate in different retirement and savings programs. This section offers in-depth resources to help you learn about the retirement programs available or assist in the retirement process. For information about the plans, click the appropriate link that corresponds to your job type.
All Faculty and Administration employees are required to participate in one of three retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include 403(b) plans and 457 deferred compensation plans.
State Retirement Plans
Faculty and Administration employees may participate in one of the three Florida Retirement System (FRS) retirement plans: the FRS Pension Plan, FRS Investment Plan or State University System Optional Retirement Program (ORP/SUSORP). You can find information on key differences between the plans on the MyFRS website. You only have a short time to decide. View more information about deadlines.
Note: College of Medicine faculty must participate in SUSORP.
- Florida Retirement System Pension Plan (FRS)
- DROP - Deferred Retirement Option Program
- Phased Retirement Program
- FRS Investment Plan
- Optional Retirement Program (ORP/SUSORP)
Voluntary Plans
Voluntary 403(b) Savings plans and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.
All Staff employees are required to participate in one of two retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include 403(b) and 457 deferred compensation plans.
State Retirement Plans
Staff employees participate in one of two Florida Retirement System (FRS) retirement plans: the FRS Pension Plan or the FRS Investment Plan. New employees will automatically default into the FRS Investment Plan unless they enroll in the FRS Pension Plan within their required enrollment period. Special Risk Class members will automatically default into the FRS Pension Plan unless they enroll in the FRS Investment Plan within their required enrollment period.
You only have a short time to decide. View more information about the related deadlines.
- Florida Retirement System Pension Plan
- DROP - Deferred Retirement Option Program
- Florida Retirement System Investment Plan
Voluntary Plans
Voluntary 403(b) Savings plans and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.
The University of South Florida offers both a qualified retirement plan for part-time, seasonal and Temporary employees not covered by the Florida Retirement System, as well as the opportunity to participate in a Voluntary Plan; Voluntary 403(b) Savings Plan and/or 457 Deferred Compensation Plan. Temporary employees are automatically enrolled in the Temporary Employee Retirement Plan (TERP) upon employment. For information about the plans, click the appropriate links below.
USF Retirement Plan
Voluntary Plans
FRS Financial Planning Online Workshops
2022 FRS Financial Planning Online Workshops- Various webinars on enrolling into retirement plans, understanding retirement plans, and planning for retirement
Previously recorded workshops available - click on the link below, then the Launch Presentation button to start the video.
Taking Control of Your Finances - 60 Minute
Investment Planning
Education Planning: Funding the Future
Understanding the FRS Investment Plan
Retirement Readiness and Resources
We understand that the transition into retirement is a significant event which, at times, can be emotional and challenging. To help you on this important and exciting transition into your new journey, please click here for a GUIDE to YOUR SUCCESSFUL RETIREMENT!