Help you understand how your Pension Plan benefit is calculated, what your payout options look like, and how survivor elections may affect your spouse or beneficiary.
Review your Investment Plan allocation, fund options, fees, and how the account fits into your broader retirement income picture.
Walk through DROP entry timing, the five-year window, and how DROP fits with your overall retirement date and income plan.
Educational guidance on rollover options when DROP ends — including direct rollover considerations, tax implications, and how the funds may be invested afterward.
Coordinate pension income, Social Security, DROP proceeds, and personal savings into a clear monthly income picture.
Help you understand how Social Security claiming choices interact with your FRS pension and overall retirement income.
Help you organize the Medicare timeline and how the Health Insurance Subsidy and retiree healthcare may fit in.
Review supplemental retirement accounts you may have built alongside FRS, and how they coordinate with pension and DROP decisions.
Review beneficiary designations across FRS, supplemental accounts, and personal assets, and coordinate with estate attorneys when appropriate.
Coordinate retirement income and rollover decisions with your CPA or tax preparer so the tax picture is considered before, not after, key choices are made.
The goal isn’t to make these decisions feel overwhelming. The goal is to organize them, one at a time, in the order that matters.
We are an independent registered investment adviser with a fiduciary duty to act in clients' best interests.
Our practice is built around Florida public employees and the specific decisions they face in retirement.
We've helped FRS members across the state work through Pension Plan, Investment Plan, DROP, and rollover decisions.
We explain the why behind every recommendation. You should never feel rushed into a decision you don't understand.
We are not affiliated with, endorsed by, or sponsored by the Florida Retirement System or any public employer.
We work alongside your CPA, estate attorney, and other professionals when those conversations are needed.
Yes. We work with Florida Retirement System members across the state, including public employees, first responders, teachers, and agency staff throughout Miami-Dade County. Meetings are typically held virtually or by phone.
Yes. We regularly help Miami-Dade County employees, Miami-Dade County Public Schools staff, and municipal employees across the Miami area think through FRS Pension Plan, Investment Plan, and DROP decisions. We are not affiliated with any of these employers.
Yes. DROP planning is one of the most common areas we help with. We walk through DROP entry timing, the five-year window, payout options when DROP ends, and how DROP fits with your broader retirement income picture.
No. There is no such thing as an “official” FRS advisor. We are an independent registered investment adviser providing fiduciary guidance to FRS members. We are not affiliated with, endorsed by, or sponsored by the Florida Retirement System or the State of Florida.
Yes. We work with police officers, firefighters, paramedics, and corrections officers in the Miami area, many of whom have Special Risk Class considerations that affect retirement timing and benefit calculations.
Yes. We provide educational guidance on rollover options for DROP balances, 403(b) accounts, 457(b) accounts, and IRAs. Rollover decisions often have tax implications, so we coordinate with your CPA when needed.
Yes. Coordinating Medicare enrollment, Social Security claiming, and FRS pension income is one of the most important — and most overlooked — parts of FRS retirement planning. We help you organize the timeline.
Yes. Most of our meetings with Miami-area clients are virtual or by phone. This works well for FRS members balancing work schedules, shift work, or family responsibilities.
There are several considerations: federal tax withholding, rollover options, the impact on long-term retirement income, and how the funds would be invested afterward. The right answer depends on your full picture, not the DROP balance alone. We’re happy to walk through it.
We do not provide tax preparation or legal advice. We coordinate with your CPA and estate attorney when those conversations are needed, and we can suggest you speak with one if you don’t currently have professionals in place.
You can use the Schedule a Conversation button anywhere on this page, or download the FRS Retirement Checklist and we’ll follow up to set a time that works for you.
Understanding your pension benefit calculation, payout options, and survivor elections.
DROP entry timing, the five-year window, and exit decisions.
Allocation, fund choices, and how the Investment Plan fits your income plan.
A starting point for organizing the decisions FRS members face.
Rollover options for DROP, 403(b), 457(b), and IRA accounts.
Coordinating Social Security, Medicare, and your FRS pension.
Special Risk Class considerations for police and corrections officers.
Retirement timing and DROP planning for fire rescue personnel.
Coordinating FRS with 403(b) and 457(b) for school district employees.
Disclosure: Benowitz Wealth Management is an independent registered investment adviser. This content is for educational purposes only and should not be considered personalized investment, tax, or legal advice. Benowitz Wealth Management is not affiliated with, endorsed by, or sponsored by the Florida Retirement System, the State of Florida, any county government, city government, school district, public employer, or public agency. FRS rules, benefits, and retirement options may change. Please consult the appropriate agency, tax professional, or legal professional before making decisions regarding your benefits or retirement plan.
