Specialty markets

 

What is the drop advisory group?

 

The DROP Advisory Group is a network of financial professionals who are highly skilled and experienced in the retirement field.

When you are considering retiring and entering into Florida’s Deferred Retirement Option Plan (DROP), work with a financial professional who is a member of the DROP Advisory Group.

Why? DROP is one of the most important retirement decisions you will ever make. The DROP process can be daunting and complex. Our DROP Advisory Group members are highly skilled advisers who have helped thousands of DROP participants with:

    •  Pension options

    • Health insurance

    • Contributory and non-contributory savings plans (403b, 457b)

    • Sick pay accounts

A DROP Advisory Group member will help you:

    • Determine the exact amount in your FRS retirement account.

    • Calculate your retirement benefits, including DROP benefits.

    • Complete all the necessary forms correctly.

We will also review your Social Security benefits alongside your retirement income and expenses. After understanding your needs, we will design a tax-advantaged solution for your DROP money that can provide a guaranteed income for life – a paycheck for life!

Through the years, we have helped hundreds retire with dignity.

Health Insurance & Medicare

We will help you understand how your health insurance subsidy works and how it interacts with Medicare when you become eligible at age 65.

Your two main paths for coverage at 65 are:

 Original Medicare (Parts A & B)

Part A (Hospital Insurance): Covers inpatient care, hospice, and skilled nursing facilities. (Typically no premium)

Part B (Medical Insurance): Covers doctor visits, outpatient care, and preventive services. (You pay a standard monthly premium)

Supplemental Plan (Medigap): A separate policy you buy to help pay Original Medicare’s out-of-pocket costs.

Part D (Drug Plan): A separate plan to cover prescription drugs.

Medicare Advantage (Part C)

An all-in-one alternative offered by private insurance companies.

Bundles Part A, Part B, and usually Part D (prescription drugs) into one plan.

Often includes extra benefits like vision, dental, and hearing.

May have lower premiums but typically operates within a network of providers.

We will review these options in detail to help you choose the path that best fits your healthcare needs and budget.

Retirement Income and Expense Plan

The DROP Advisory Group offers a complimentary retirement and income expense plan for you! It is your customized roadmap for retirement.

We will meet with you to review all your retirement income sources and expenses, including:

      • FRS Pension
      • Social Security
      • 403(b), 457(b), IRAs, and other savings plans
      • Options for your DROP money
      • Medical insurance and costs
      • Housing, food, and essential expenses
      • Entertainment, travel, and other discretionary spending

Our goal is to help you avoid mistakes that could derail your retirement goals.

During the planning process, we will guide you through:

      • The Exit Process: Navigating the steps to retire.
      • Forms & Paperwork: Identifying and completing necessary retirement and Social Security forms.
      • FRS Pension Choices: Understanding your best options.
      • Sick Days: How you will get paid for unused sick time.
      • Deferred Retirement Option Plan (DROP): Strategies for spending or investing your DROP payout.
      • Withdrawal Strategies: Determining when to start taking money from your 403(b), 457(b), and IRAs.
      • Social Security: Analyzing the best age for you to start taking payments.
      • Health Insurance Subsidy & Medicare: Understanding how it works and your options.