Charlotte County Public Schools

What types of investing products are available?
You may choose from several types of investment products for your 403(b) or 457(b) retirement savings. The different investment products listed below represent the majority of all account types currently available. The 401(k) plan is limited to mutual fund investment options only. The assistance of a professional representative could help you chart a course for successful investing. Note that each investment product has specific provisions and advantages associated with its use.

Standard Interest Annuity
This is the simplest form of retirement savings and is similar to a savings account.
Equity Index Annuity
Combines many of the characteristics of an interest annuity with the opportunity to participate in any positive returns realized in a stock market index.
Variable Annuity
Several investment alternatives are combined within these plans. The participant may select one or more investment accounts managed by the carrier or other various investment management companies.
Mutual Funds
Offered by investment management companies and brokerage firms. Participants may direct their contributions to various investment portfolios which are managed by the custodian or management company.

FRS Workshop Videos

FRS Handbooks

FRS 2021 DISABILITY BENEFITS HANDBOOK pdf

FRS 2023 DROP HANDBOOK pdf

RETIREMENT READY SSA

FRS 2021 INVESTMENT PLAN HANDBOOK pdf

FRS 2023 PENSION PLAN HANDBOOK

FRS 2021 SURVIVOR BENEFITS HANDBOOK pdf

FRS 2023 Ready set retire

Overview of Investment Products


Product Type	Risk	Minimum Rate of Return	Current Interest or Return on Deposits	Fees	Surrender Charges	Loan Provisions
Standard Interest Annuity	Stable	Minimum guarantee on all principal	Credits current rate of interest	Usually no front-end sales charges or fees	Common for early withdrawal	Usually included
Equity Index Annuity	Stable to Low Moderate	Minimum rate on portion of principal over specified period of time	Different methods of crediting interest exist based on varying market indices	Usually no front-end charges or fees.	Common for early withdrawals	Usually Included
Variable Annuity	Moderate to Aggressive	Subject to performance of investment accounts	Interest bearing with guarantee available as one of the investment choices	May include mortality and expense fees and investment management fees	Common for early withdrawals	Usually Included
Mutual Funds	Moderate to Aggressive	Long-range returns subject to account performance	Subject to performance of investment accounts selected	May include sales charges and investment management fees	Some share classes may have contingent deferred sales charges	Sometimes Included