RETIREMENT - FACULTY AND ADMINISTRATION
The University of South Florida provides employees the opportunity to participate in several different retirement and savings programs. 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 tax sheltered annuities and 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 (FRSP), FRS Investment Plan (FRSI) or Optional Retirement Plan (ORP). You can find information on key differences between the plans here. You only have a short time to decide. For additional information click here.
Note: College of Medicine faculty must participate in ORP.
403(b) Tax Sheltered Annuities and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.