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. Employees who enroll in the Pension Plan are vested after six years.Employees in the Investment Plan are vested after one year. In addition, FRS members must contribute 3 percent of their salary towards their retirement benefits. What forms must I complete to participate in DROP? You must complete Form DP-ELE, Notice of Election to Participate in the DROP and. You may retire early, that is, before your normal retirement age if you are vested and within 20 years of your normal retirement age. These rules are as follows: The CSRS deposit is 7 percent of your military basic pay. The Palm Beach County School District participates in the Florida Retirement System (FRS). 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.