It may not be used for the purpose of avoiding any federal tax penalties. FMG Suite is not affiliated with the named Past Performance is no guarantee of future results. Please consult legal or tax professionals Member FINRA(www.finra.org)/SIPC(www.sipc.org). Javascript is required for this calculator. As a supplement to the retirement benefits under the FRS, Miami-Dade County offers employees a deferred compensation program. Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. Suite 226 http://get.adobe.com/flashplayer/. GWN, its representatives or advisors do not endorse or accept responsibility for the content, or use, of the website. Call 1-800-422-8463 for personal service. As of January 1, 2020 the California Consumer Privacy Act (CCPA) suggests the following link as an extra measure to safeguard your data: Do not sell my personal information. Receive weekly news & events, public notices, recycling reminders, grant opportunities, emergency alerts, transit rider alerts and more. Our Mission: A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services to help State and local public employees achieve their retirement savings goals. Social Security and the Florida Retirement System are not intended to replace all of your income at retirement. If you are using Internet Explorer, you may need to select to 'Allow Blocked Content' to view this calculator. Aggressive? It is wise to start a savings plan now. We take protecting your data and privacy very seriously. 11440 N Jog Road, Palm Beach Gardens, FL 33418. 2020, Voya Services Company. Account Executives are Registered Representatives of Nationwide Investment Services Corporation, Columbus, OH, member FINRA. To stay logged in, select the Continue button below. For security reasons, your session is about to timeout. Florida Retirement Resources and its representatives do not represent, nor are they affiliated with the Florida Retirement System (FRS). representative, broker - dealer, state - or SEC - registered investment advisory firm. Additional tools and calculators are available to assist you. In addition, FRS members must contribute 3 percent of their salary towards their retirement benefit, on a pre-tax basis (the salary is reduced by the amount of the employee contribution before determining the federal income tax deduction); the remainder is paid by the employer. Miami-Dade County provides retirement benefits for eligible employees through theFlorida Retirement System (FRS). This material was developed and produced by FMG, LLC, to provide information on a topic that may be of interest. Securities are distributed by Voya Financial Partners LLC (memberSIPC). Use this tool to develop a personalized retirement savings strategy and calculate the after-tax effect of various contributions on your net pay. This calculator helps illustrate what it might take to eventually reach your objectives. As part of our enhanced security, we no longer support Internet Explorer (IE). To end your session, select the Log off button, or take no action. Voya Retire App Access your retirement savings account whenever and wherever you want. 33014. Stephen P. Clark Center Information provided by Retirement Specialists is for educational purposes only and not intended as investment advice. Securities and Registered InvestmentAdvisoryoffered through GWN Securities, Inc. Under the defined benefit plan, an employees annual benefit will be determined by multiplying the years of service by a percentage value and by the average of the five highest years of creditable salary. Use this calculator to determine your current RMD and estimate your future RMDs. Some of this material was developed and produced by The FRS is qualified under Section 401(a) of the Internal Revenue Code and provides a defined benefit (FRS Pension Plan) and a defined contribution plan (FRS Investment Plan) option. 561-472-2700.Florida Retirement Resources and GWN Securities, Inc. are non-affiliated companies.This is not an official site of GWN Securities, Inc (GWN) or its affiliates. Members participating in the Deferred Retirement Option Program (DROP) and re-employed retirees who do not qualify for renewed membership are not required to make the 3 percent contribution. A miamidade.gov profile allows you to link to your Water and Sewer customer account, as well as subscribe to a variety of news and alert services. Conservative? We make no endorsement of its content or guarantee of its accuracy. 2018 Miami-Dade County. With the defined contribution plan, the employees benefit amount depends on the investment returns earned on contributions. Miami-Dade County provides retirement benefits for eligible employees through the Florida Retirement System (FRS). Members of the Regular Class, Senior Management Service Class and Elected Officers Class will reach their normal retirement date. The information in this material is not intended as tax or legal advice. Under the defined benefit plan, for every month an employee receives a paycheck, they receive one month of service credit; if the employee participates in the defined contribution plan a contribution is made to their account and the employee is responsible for managing their investments. material provided are for general information, and should not be considered a solicitation for the purchase or The site may contain links that are contained on a third party website. See how much more you'd need to save, or how much less your account might be worth, if you delay enrolling in your retirement plan. The New York State Deferred Compensation Plan is a State-sponsored employee benefit for State employees and employees of participating employers. This calculator shows the effects compound interest could have on your savings. Members of the Special Risk Class will reach their normal retirement date: The first day of the month following the date the member reaches. Please note that miamidade.gov no longer supports Internet Explorer. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. No part of this site is intended to make a recommendation or a testimonial for or about a security, service or product, to provide investment, tax or other advice. All companies are members of the Voya family of companies. Investor TypeWhat type of investor are you? Securities may also be distributed through other broker-dealers with which Voya has selling agreements. The Retiree Health Cost Estimator provides an estimate of your health costs at retirement, rather than a precise calculation. No strategy assures success or protects against loss. Miami-Dade County Facebook - Opens a warning dialog, Miami-Dade County Twitter - Opens a warning dialog, Miami-Dade County Instagram - Opens a warning dialog, Miami-Dade County TV - Opens a warning dialog, The average final compensation (AFC) used in calculating retirement benefits will be the. Please be aware that when you exit this site, you are no longer protected by our privacy or security policies. for specific information regarding your individual situation. For more information about these these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC, State Board of Administration of Florida1801 Hermitage Blvd., Suite 100Tallahassee, FL. Do you know how much you can really afford to save from each paycheck? Florida Retirement Resources and GWN Securities, Inc. are non-affiliated companies. FMG Suite to provide information on a topic that may be of interest. Member FINRA(www.finra.org)/SIPC(www.sipc.org). Miami Lakes, Members of the Regular Class, Senior Management Service Class and Elected Officers' Class will reach their normal retirement date: The first day of the month the member reaches, The first day of the month following the month the member completes. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Securities and Registered InvestmentAdvisoryoffered through GWN Securities, Inc. My Retirement OverviewAre you on the right track pursuing your retirement objectives? myOrangeMoney shows your estimated retirement income. This calculator shows how cutting back can add up over time and increase your savings. GWN, its representatives or advisors do not endorse or accept responsibility for the content, or use, of the website. See how increasing your 457 Plan contributions can provide a valuable boost to your future savings. The information in this material is not intended as tax or legal advice. FL The opinions expressed and All rights reserved. Submitted by Matthew Wetmore on Sun, 03/23/2014 - 16:46. myOrangeMoney See into your future. Please click 'OK' to be sent to the new site, or Click 'Cancel' to go back. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Enrollment is automatic for full-time and part-time employees. We recommend Effective July 1, 2011, the legislature amended the retirement plan and redefined normal retirement age and the vesting requirements for new members. Insurance obligations are the responsibility of each individual company. GWN, its representatives or advisors assume no liability for any inaccuracies, errors/omissions in or from any data or information provided on the pages. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. Employees can login to access personnel information, workplace tools, trainings and more. Please read the information carefully before investing. When you retire, you'll want to maintain the lifestyle you currently have. All Rights Reserved. An employee may retire before reaching normal retirement age, but the annual benefit will be reduced by 5 percent for each year under normal retirement date. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. Features two calculators: the Retirement Savings calculator and the Paycheck calculator. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. 305-375-1589. For the best website experience, please use Chrome, Firefox or Microsoft Edge. Required Minimum Distribution (RMD) Calculator. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Florida Retirement System (FRS)1-844-377-1888. Miami-Dade County is not responsible for the content provided on linked sites. Please consult legal or tax professionals for specific information regarding your individual situation. 11440 N Jog Road, Palm Beach Gardens, FL 33418. Federal law, under section 401(a)(17) of the Internal Revenue Code, limits the amount of annual salary that may be applied towards retirement under a qualified retirement plan. Employees who initially became members of the FRS before July 1, 1996, are subject to a higher limit (also adjusted annually by the IRS to reflect cost-of-living increases). Employees who initially became members of the FRS on or after July 1, 1996, are subject to a $150,000 limit, incrementally indexed for cost-of-living increases after 1996. Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. 21st Floor Miami, FL 33128 Retirement benefits may be provided to employees with eight years of creditable service who become totally and permanently disabled. Florida Retirement Resources and its representatives do not represent, nor are they affiliated with the Florida Retirement System (FRS). Product and services may not be available in all states. The informational booklet and fund prospectuses containing this and other information can be obtained by contacting your local representative. GWN, its representatives or advisors assume no liability for any inaccuracies, errors/omissions in or from any data or information provided on the pages. This is not an official site of GWN Securities, Inc (GWN) or its affiliates. All examples are hypothetical and are for illustrative purposes. TheDeferred Compensation Planis a tax deferred savings plan that can be used at retirement to supplement your Florida Retirement System and Social Security benefit. You should consider the investment objectives, risks, and charges and expenses of the variable investment options offered through a retirement plan, carefully before investing. sale of any security. All Rights Reserved. The content is developed from sources believed to be providing accurate information. Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency. If the Continue button does not work, the page may have been moved or removed. Enrollment is automatic for full-time and part-time employees. 111 NW 1st Street, You are now leaving the official website of Miami-Dade County government. Check the background of your financial professional on FINRA's BrokerCheck. The following item requires Adobe Flash Player. upgrading to the latest Microsoft Edge, Google Chrome or Firefox. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you. In order to qualify for the retirement benefit, an employee must be vested. The content is developed from sources believed to be providing accurate information. DCRetire.com | Copyright document.write(new Date().getFullYear()) MissionSquare Retirement. Use this calculator to learn more about the Roth option and decide which is best for your situation - pre-tax or after-tax savings. The provision of links to these external sites does not constitute an endorsement. Learn what type of investment portfolio best matches your investment personality. The site may contain links that are contained on a third party website. Group annuities are intended as long-term investments designed for retirement purposes. Employees who become disabled in the line of duty may become eligible for disability benefits regardless of their length of service. Important Legal Information and Privacy Notice. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Past Performance is no guarantee of future results. Use this calculator to help you manage withdrawals from your defined contribution accounts that you have set aside for retirement. No strategy assures success or protects against loss. 561-472-2700. Please consider logging out of your account before you proceed. No part of this site is intended to make a recommendation or a testimonial for or about a security, service or product, to provide investment, tax or other advice. Giving up a few everyday items can help you save. 6175 Northwest 153 Street

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