Comprehensive Retirement Options
Lake-Sumter State College offers comprehensive retirement options to meet employee needs. Options include a defined benefit plan and two defined contribution plans sponsored by the State. We also offer voluntary pre-tax and roth (post-tax) 403(b) plans and the Florida Deferred Compensation Plan (457). Coverage options are available through the Florida Retirement System (FRS), the Division of Retirement and through local and national vendors.
There are many options for saving for your retirement and we highly encourage all employees to become familiar with the programs offered at the Lake-Sumter State College.
Financial Benefit Options
Alternate Retirement Plan
Eligible employees at Lake-Sumter State College contribute 7.5% of pre-tax wages to a personal investment account instead of paying 6.2%
Florida Retirement System (FRS)
Employer Contributory Retirement Plan MyFRS Home The FRS is an employee and employer contributory retirement plan. The rules surrounding FRS
Medicare
If you or your spouse are turning 65 and are continuing to work, you should enroll in Medicare Part A
Voluntary Retirement Plans
403b and 457 Voluntary Retirement Plans TSA Consulting Group, Inc. (TSA) is our third-party administrator for our 403b and 457