REVISED VIDEO TREATMENT - MyFRS



Employee Video Script

Hand Out

|BACKGROUND VOICES |

|FEMALE, 48 (Cathy) (Voice Over): |

|“I remember when I started, I said, “Okay, how long do I have to work here before I can actually |

|retire.” |

| |

|FEMALE, 29 (Susan) (Voice Over): |

|“I don’t know a lot of details about retirement. I just started my career.” |

| |

|MALE, 25 (Tony) (Voice Over): |

|“I’ve never once thought about retirement. I worry about my car payment and what I’m going to do on |

|the weekend. And that’s about it.” |

| |

|FEMALE, 55 (Leticia) (Voice Over): |

|“My husband and I think about this all the time. I mean, we’re both middle-aged and we’ve worked years|

|for this.” |

| |

|FEMALE, 32 (Michelle) (Voice Over): |

|“My kids are young so we never talk about retirement. It’s like getting old. You don’t talk about it |

|until you have to” |

| |

|MALE, 53 (Frank) (Voice Over): |

|“When you’re close to retirement, then you talk about it. It’s purely age driven.” |

| |

|INTRODUCTION |

|NARRATOR: |

|Retirement. You may not know exactly when and how you’ll do it. You may have never even said the |

|word. |

| |

|But now you, along with 600,000 other Florida public employees, must make a decision. |

| |

|It’s about your money. It’s about your future. |

| |

|Starting in 2002, the Florida Retirement System will offer you a choice of plans. You can choose to |

|remain in the current FRS Pension Plan or move to the new FRS Investment Plan. |

| |

|What’s right for you depends on you. |

| |

|INTRODUCTION OF DIVISION OF RETIREMENT AND STATE BOARD OF ADMINISTRATION REPRESENTATIVES |

| |

|JIM FRANCIS: Under the existing pension plan, you get a payment for life based upon a fixed formula. |

| |

|MAURICE HELMS: Under the current plan your benefit accumulates slowly during the first years, then it |

|accumulates more rapidly later in your career |

| |

|JIM FRANCIS: the current plan is very good for long service employees. But in today's market, with |

|today’s mobile labor force we needed a kind of pension plan that appeals to them. |

| |

|There’s a new investment plan. Employees will be able to direct how their money is invested. |

| |

|MAURICE HELMS: Under the investment plan, the retirement benefit is not fixed. It's based on |

|investment performance. |

| |

|JIM FRANCIS: The investment plan will provide generally higher benefits to shorter service people. |

| |

|A person has to work only one year and then is eligible for benefits. If you leave before retirement |

|age, your benefits continue to grow. |

| |

|Both plans are paid for by your employer. The only right choice is an informed choice. |

|BACKGROUND VOICES |

|. |

|MALE, 53 (Frank) (Voice Over): |

|“How will I know what’s right?” |

| |

|FEMALE, 32 (Michelle) (Voice Over): |

|“It’s kind of scary.” |

| |

|FEMALE, 55 (Leticia) (Voice Over): |

|“I can’t do this alone.” |

| |

|FEMALE, 29 (Susan) (Voice Over): |

|“I want the facts. How do I get the information?” |

| |

|MYFRS FINANCIAL GUIDANCE PROGRAM |

|NARRATOR: |

|Moving forward, every Florida public employee will have access to a new, fully paid benefit called My |

|FRS Financial Guidance Program. It’s designed not only to help you choose the plan that’s right for |

|you but also to provide ongoing help with long-term financial and retirement planning. |

| |

|MAURICE HELMS: The main objective of the program is to “tell, not sell.” We want every person to get |

|the facts straight, simple and unbiased. |

| |

|NARRATOR: We’ve selected best in class companies to help us design and deliver this Program. |

|Financial Engines |

| |

|JIM FRANCIS: Financial Engines is responsible for the technical guts of this program. |

| |

|BILL SHARPE: Our services are designed to be used by ordinary people, not by PhDs in finance. |

| |

|In effect, we’re going to be providing two services, one is the Choice Service that helps the |

|individual make the choice between the current Pension Plan and the new Investment Plan. Then, on |

|ongoing basis, we will be providing an Advisor Service. We'll give you guidance on how to use the |

|vehicles we have available for you. |

| |

|Our service allows an individual to look at his or her total portfolio, including accounts outside the|

|Florida Retirement System. |

| |

|We have no vested interest in the actual decisions that the employee makes. We want, as does everyone |

|involved in this program, the employee to make the best possible decision. |

| |

|JIM FRANCIS: Whether they’re in the Investment Plan or whether they stay in the Pension Plan, |

|Financial Engines is there as a resource. Ernst and Young is the human side of this. |

| |

|FINANCIAL EDUCATION |

| |

|LYNN FINKELSTEIN: Ernst and Young will be deeply involved during the transition period and post |

|transition. We are hands on. We will be offering through our financial planners over 3,000 workshops|

|in the State of Florida. They will be interactive workshops that will help educate and guide |

|employees to making the right decision for themselves and for their families. |

| |

|MAURICE HELMS: They will be doing an unbiased presentation of both the Pension Plan and the Investment|

|Plan. |

| |

|LYNN FINKELSTEIN: We will also have a toll-free Financial Planner Line available for individuals to |

|call and speak to a financial planner, to help walk through the choice, to help guide them through the|

|online financial planning tools. |

| |

|After the transition period, employees will continue to be able to attend workshops, as well as |

|ongoing web based tools. |

| |

|We do not sell products, sell investments, financial products of any type or insurance. We simply |

|want to educate employees and assist them in making the best choice possible |

| |

| |

|JIM FRANCIS: The only right choice for an individual is a personal choice based upon their |

|circumstances, their attitudes, their concerns. |

| |

|INTRODUCE CHARACTERS IN WORK SETTINGS |

|SUSAN, 29: |

|“With the current plan, I know I have to wait until I’m 62 or whatever the magic number is, before I |

|can access it. I know the new plan is different but I’m not sure exactly how.” |

| |

|CATHY, 48: |

|“I’ve never had a position where retirement was an option and I don’t mean to make it sound like I’m |

|ready now, but I am getting older and I’m looking into those options. I never used to care.” |

| |

|FRANK, 53: |

|“I understand young people. They don’t think about getting old or anything like that, but that |

|guarantee, that’s what counts.” |

| |

|LETICIA, 55: |

|“I have been a teacher for 23 years and I have built up a lot of money. What happens to that money if |

|I switch to another plan?” |

| |

|TONY, 25: |

|“Being able to take the benefit if I move is a good thing. Otherwise, it’s like saying for the first |

|20 years you better not leave because if you do you’re not going to get much.” |

| |

|MICHELLE, 32: |

|“I heard older people in my office telling me how they wish they had planned much earlier than they |

|did. And I thought to myself, I need to do this now.” |

| |

|CONCLUSION |

|NARRATOR: |

|Determining which plan is right for you is ultimately up to you. Take advantage of the incredible |

|resources offered by the program and learn how each plan works. |

| |

|The FRS Pension Plan or the FRS Investment Plan, the right choice is an informed choice. |

| |

|It’s your money … your future. |

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download