Law enforcement retirement planning may involve FRS benefits, Special Risk considerations where applicable, DROP, deferred compensation accounts, pension survivor options, healthcare before Medicare, and long-term retirement income. Benowitz Wealth Management helps officers organize and understand these retirement planning questions in plain English.
Independent fiduciary guidance for Florida public employees. Not affiliated with or endorsed by the Florida Retirement System or the State of Florida.
Law enforcement retirement rarely follows the same path as a private-sector career. Earlier retirement timelines, Special Risk considerations where applicable, pension payout elections, healthcare gaps before Medicare, and DROP balances all interact in ways that benefit from being reviewed together. The decisions in front of you — when to retire, which pension option to elect, what to do with DROP, when to coordinate Social Security — will shape the next several decades. They deserve more than a thirty-minute conversation at a free dinner seminar.
Officer retirement plans tend to share a similar set of moving parts. Reviewing them in one coordinated picture is usually clearer than reviewing each piece in isolation.
Reviewing how Special Risk Class participation, where applicable, may affect retirement timing, benefit calculations, and your overall plan.
Understanding the pension option choices, including survivor elections, before paperwork is filed. Some elections cannot be changed afterward.
Reviewing DROP timing, how the five-year window may interact with your retirement plans, and what happens at the end of DROP.
Considering how a 457(b) account may be positioned as retirement approaches and what payout or rollover options may exist.
Planning for healthcare coverage in the years between retirement and Medicare eligibility — often one of the biggest unplanned expenses.
Reviewing beneficiary designations on pension, retirement accounts, and life insurance — they often haven't been updated in years.
Law enforcement officers often have access to retirement benefits and timing options that don’t exist in the private sector. That same access creates planning questions that don’t exist in the private sector either. Survivor elections affect a spouse for decades. Healthcare costs in the gap before Medicare can be substantial. Deferred compensation accounts can be repositioned or rolled, with different tax consequences depending on the choice. Reviewing these decisions together — rather than one at a time as deadlines arrive — typically leads to a clearer plan.
Special Risk and other Class considerations may allow retirement earlier than typical. Planning the years between retirement and Social Security or Medicare becomes especially important.
Officers retiring before age 65 often need coverage for several years before Medicare eligibility. The cost can be a meaningful part of an early retirement budget.
457(b) accounts have rules and payout options that differ from 401(k)s and IRAs. Reviewing them before retirement, rather than after, tends to be easier.
Pension payout elections affect a spouse or beneficiary for decades. Many officers want to model the choices with their family before electing.
Few officers wake up to find they made a planning mistake. More commonly, a single decision was made years ago without all the context. These are the items most often worth a second look.
We work as a fiduciary, which means the advice we give is the advice we’d give our own family. We don’t sell insurance products, we don’t push proprietary funds, and we don’t represent any carrier. What we do is help officers organize a retirement plan that holds together — across pension elections, DROP, deferred compensation, healthcare, Social Security, and the questions that come up after retirement.
An independent registered investment adviser working in your interest, with no quotas and no product sales pressure.
Special Risk considerations, DROP, 457(b), HIS — we work in the FRS world every day, not occasionally.
No jargon. No scripted pitch. You ask the questions; we give you the most honest answer we can.
Retirement isn't a single event — it's a chain of decisions over decades. The plan should adjust as life does.
A free educational checklist designed to help Florida law enforcement officers organize questions involving FRS benefits, Special Risk considerations where applicable, DROP, 457(b), healthcare, survivor benefits, and retirement income planning. Built as a tool for organizing your own questions — not as financial, tax, insurance, or legal advice.
Complimentary. No pitch. You bring the questions, the statements, or the deadlines you’re trying to make sense of. If we’re not a fit, we’ll say so.
A plan you can read, explain to your family, and actually follow. Built around your FRS benefits and your retirement timeline.
Pension rules change. Healthcare rules change. The plan adjusts as your situation does — not just on the day you sign on.
Learn more about this topic and how it may connect to your retirement plan.
Learn more about this topic and how it may connect to your retirement plan.
Learn more about this topic and how it may connect to your retirement plan.
Learn more about this topic and how it may connect to your retirement plan.
Learn more about this topic and how it may connect to your retirement plan.
Learn more about this topic and how it may connect to your retirement plan.
Officer retirement planning often involves FRS pension elections, Special Risk Class considerations where applicable, DROP entry and exit decisions, deferred compensation accounts such as 457(b), healthcare planning before Medicare, survivor and beneficiary review, and Social Security coordination. Reviewing these topics together generally produces a clearer picture than reviewing each separately.
Special Risk Class is a category within FRS for certain public-safety positions. The rules and eligibility are defined by FRS itself. We help members organize the planning questions that surround Special Risk participation, but we do not interpret official rules. Before any decision, we encourage members to verify current Special Risk rules and benefits directly with the Florida Retirement System.
DROP can affect retirement timing, the calculation of your pension benefit, what happens to your DROP balance at exit, and how the DROP funds eventually fit into your retirement income plan. Because DROP involves deadlines and irreversible elections, many officers prefer to review DROP topics several years in advance.
457(b) deferred compensation accounts have different rules from 401(k)s and IRAs, including different payout and tax-timing options. Reviewing the account’s investment positioning, projected balance, and available payout choices before retirement is generally easier than after the paperwork is filed.
Officers who retire before age 65 typically need a plan for healthcare coverage until Medicare becomes available. The cost of that coverage can be meaningful, and the decisions are easier to make before retirement than scrambling to find coverage afterward.
Yes. We help officers understand the payout and rollover options that may be available, including for DROP balances and 457(b) accounts. Because these decisions often have tax implications, we coordinate with your CPA when appropriate.
No. Benowitz Wealth Management is a registered investment adviser. We do not provide tax preparation, legal advice, or insurance products. We coordinate with separately engaged qualified professionals when those topics arise.
No. We are an independent registered investment adviser. We are not affiliated with, endorsed by, or sponsored by the Florida Retirement System, the Florida Department of Management Services, the Division of Retirement, the State Board of Administration of Florida, the State of Florida, or any public safety agency.
The Law Enforcement Retirement Checklist is a free educational document covering planning topics commonly faced by Florida officers, including Special Risk pension considerations, DROP, 457(b), unused leave, healthcare before Medicare, and retirement income. It is a tool for organizing questions, not personalized advice.
Use the Talk With a Fiduciary Advisor button on this page to request a complimentary conversation. We will reach out, listen to what you’re working through, and let you know whether we may be a fit. There is no obligation.
A short, complimentary conversation can bring real clarity — whether you’re five years out, five months out, or already retired. Bring the questions. Bring the statements. Bring the concerns. We’ll listen first.
Disclaimer: Benowitz Wealth Management is an independent registered investment adviser. Registration does not imply a certain level of skill or training. This content is for general educational purposes only and should not be considered personalized investment, tax, legal, Medicare, or insurance advice. Benowitz Wealth Management is not affiliated with, endorsed by, or sponsored by the Florida Retirement System, the Florida Department of Management Services, the Division of Retirement, the State Board of Administration of Florida, the State of Florida, any county government, city government, school district, public employer, public safety agency, or government agency. FRS rules, benefits, retirement options, tax laws, Medicare rules, and related planning considerations may change. Before making decisions regarding benefits or retirement planning, visitors should review official plan information and consult appropriate qualified professionals. Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.
