• Make an appointment with an HR Benefits Generalist and complete the required FRS DROP Enrollment forms. If you retire without participating in the DROP, the earliest your effective retirement date can be is the first of the month following your termination.Early Retirement and Disability Retirement: Those enrolled in the FRS pension plan are able to retiree early or retire based on disability. The information provided in this guide is based on the Florida. To receive a vested retirement benefit at the earliest possible date, file a retirement application within 90 days of the date you become eligible. While you are in the DROP, your monthly retirement benefits accumulate in the FRS Trust Fund earning interest while you continue to work for an FRS employer. Or, if in the Investment Plan, terminate my employment. Retirement benefits are payable on the last state business day of each month. Employment Requirements; Employment Benefits; Career Opportunities. Additionally, Florida allows early retirement once a teacher has 20 years of experience.