As an employee of both a state community college and the State of Florida, you are offered a comprehensive list of employee benefits. 

For over 60 years, The Gabor Agency has assisted employees of state universities in understanding and choosing the benefit options that are right for each individual’s situation.  Our representatives visit the campus daily and are available to meet with you personally to discuss your investment and benefit options.

Voluntary Benefits

LIFE INSURANCE

Various forms of life insurance are available through payroll deduction such as Universal Life, Variable Universal Life, and Level Term Life Insurance. Gabor representatives are trained as professionals to evaluate the needs and recommend the most cost effective choice of coverage for each individual’s situation. Many of these plans are offered guaranteed issue to new employees during the first 60 days of employment or during periodic open enrollments. An employee may purchase any of these plans at any time by providing evidence of insurability.

Symetra Life Insurance Company

This program is offered guaranteed issue to all new full-time employees up to four times their annual salary, with a maximum limit of $250,000. Symetra also offers up to $25,000 on a guaranteed issue basis to spouses.
(Manatee Community College, Palm Beach Community College, Gulf Coast Community College, Florida Community College at Jacksonville, Edison Community College, Central Florida Community College, Broward Community College, Brevard Community College, Seminole Community College)

GROUP TERM LIFE

Group Term Life is low cost term life insurance available through payroll deduction and offered guaranteed issue to new employees during their first 60 days of employment or during periodic open enrollments.

Underwritten by UNUM Life Insurance Company.  This program is offered guaranteed issue to new employees up to three times their annual salary, with a maximum limit of $150,000. Employee spouses are also eligible for guaranteed coverage up to $25,000. This coverage may be continued at retirement up to $20,000 if payroll deducted through FRS.
(Palm Beach Community College, Florida Gulf Coast Community College)

GROUP DISABILITY

Underwritten by UNUM Life Insurance Company.  Offered guaranteed issue to all new full-time employees and periodically through an open enrollment to all existing employees.

Disability coverage provides benefits equal to 66 2/3% of your basic monthly earnings, less your benefits from other income, subject to a maximum benefit $9,000 per month. You will be eligible for a Monthly Annuity Supplement Benefit if you are insured under this plan for at least three (3) months prior to the date of your disability, and are continuously disabled for a minimum of six (6) months. The Annuity Supplement Benefit will be in addition to your regular Monthly Benefit, and will equal 11% of your monthly Pre-Disability Earnings.

The premium for the 90-day elimination period option is $.61 per $100 of covered monthly salary; for an additional $.33 per $100 of covered monthly salary, you can begin receiving benefits a full 60 days earlier in the event of a disability. 

This coverage is not convertible upon termination of employment or retirement.
(Edison Community College, Seminole Community College, Palm Beach Community College, Sante Fe Community College)

LONG TERM CARE

Underwritten by UNUM Life Insurance Company.  This program is offered guaranteed issue to all new full-time employees and periodically through an open enrollment to all existing employees. This coverage is an indemnity-based policy that provides up to $4,000 monthly benefit.

The program is fully portable at the same rate upon termination of employment or retirement.
(Broward Community College, Central Florida Community College)

State Retirement Options

OPTIONAL RETIREMENT PROGRAM

The ORP is a defined contribution plan with immediate vesting.  Employees may choose how to invest the money contributed by their employer.  Employees may also make voluntary contributions up to IRS limitations.  Deductions are taken from employee’s paycheck on a tax-deferred basis.  

Employer will contribute 10.42% of bi-weekly gross salary to approved investment company of employee’s choice. 

DROP (Deferred Retirement Option Program)

DROP allows you to retire without terminating your employment for up to 5 years while your retirement benefits accumulate and earn interest compounded monthly at an effective annual rate of 6.5%. This program is available to eligible members of the Florida Retirement System who are in the FRS Pension Plan.

FRS Pension

The FRS Pension Plan is a defined benefit plan, in which you are promised a benefit at retirement if you meet certain criteria. The amount of your future benefit is determined by a formula, based on your earnings, length of service, and membership class, and is adjusted by a 3% cost-of-living each July after retirement. Your benefit is pre-funded by contributions paid by your employer. The Florida Retirement System must ensure that sufficient funds are available when your benefits are due and bears the market risk and investment decisions.

FRS Investment

The FRS Investment Plan is a defined contribution plan, in which employer contributions are defined by law, but your ultimate benefit depends in part on the performance of your investment funds.

The FRS Investment Plan is funded by employer contributions that are based on your salary and your FRS membership class (Regular Class, Special Risk Class, etc.). The Investment Plan directs contributions to individual member accounts, and you allocate your contributions and account balance among various investment funds. (Participant contributions are not allowed.)

Your Investment Plan retirement benefit is the value of your account at termination. Unlike the Pension Plan, there is no fixed benefit level at retirement. However, a guaranteed lifetime payment option (based on the benefit to be distributed) can be purchased and is available with annual 3% benefit increases, like the Pension Plan.

When an employee terminates their employment, they may withdrawal funds by a lump-sum payment, a direct rollover, or a partial lump-sum payment and rollover.

Employee Voluntary Retirement Options

RETIREMENT PLANNING

We offer a full range of retirement investment services and products such as, Roth IRAs, Traditional IRAs, Tax-sheltered Annuities, and Mutual Funds. 

Our fully trained staff includes Chartered Life Underwriters, Chartered Financial Consultants, Certified Financial Planners, Certified Public Accountants, and Tax Attorneys.

MUTUAL FUNDS

We offer a wide range of mutual fund companies to employees who wish to contribute either to their 403(b) account, IRA, or non-qualified investment portfolio.

For additional coverage information, click here to have a Gabor representative contact you.

Community Colleges:
Brevard Community College
Broward Community College
Central Florida Community College
Chipola JR College
Daytona Beach Community College
Edison Community College
Florida Community College at Jacksonville
Florida Keys Community College
Gulf Coast Community College
Hillsborough Community College
Indian River Community College
Lake City Community College
Lake-Sumter Community College
Manatee Community College
Miami-Dade Community College
North Florida Community College
Okaloosa Walton Community College
Palm Beach Community College
Pasco-Hernando Community College
Pensacola JR College
Polk Community College
Santa Fe Community College
Seminole Community College
South Florida Community College
St. Johns River Community College
St. Petersburg Community College
Tallahassee Community College
Valencia Community College