TCC offers retirement plans that include the defined benefit Florida Retirement System (FRS) Pension plan and defined-contribution FRS Investment Plan. TCC also offers the Community College Optional Retirement Plan (CCORP), a defined contribution plan, to eligible Administrators and Faculty employees.
Florida Retirement System
The State is responsible for the management this guaranteed monthly retirement benefit, using a formula based on salary, years of service, FRS membership class, and age. You are qualified after 8 years of creditable service.
- FRS Deferred Retirement Option Plan (DROP)
- FRS Pension Plan continued employment with FRS-covered employer for up to 60 months. Employee can exit any time before but cannot exceed 60-month participation, or will result in voided retirement and DROP funds revoked.
You invest into your account based on your employer’s contributions, so your earnings depend on the risk you are willing to take and fees incurred by investment funds. You are qualified after one year of creditable service.
403(b), 457(b), ORP and Roth 403(b) Retirement Savings Accounts
View list of Authorized Investment Providers.
Community College Optional Retirement Plan
You may select from the options offered by various providers and make contributions. After electing CCORP, decide within 90 days of hire which company you want TCC to contribute to on your behalf. You are fully vested upon enrollment.