Comments on: FRS give me MY money; Seriously http://blog.edseek.com/archives/2006/04/28/frs-give-me-my-money-seriously/ Thursday next week is indeed time for a thorough insight into the swirling red debian vortex. -- leeta Fri, 10 Feb 2012 02:18:39 +0000 http://wordpress.org/?v=2.6 By: A Temp at Ernst & Young http://blog.edseek.com/archives/2006/04/28/frs-give-me-my-money-seriously/#comment-9842 A Temp at Ernst & Young Tue, 08 Aug 2006 05:08:37 +0000 http://edseek.com/?p=327#comment-9842 Actually, it is CitiStreet -- the administrator of the FRS Investment Plan -- which processes distributions from Investment Plan accounts, and which requires a notarized letter for former FRS-covered employees to change their addresses. Ernst & Young has nothing to do with the choice of investment options within the investment plan or its administration. Ernst & Young just staffs the "financial guidance line" where temps like me repeat the same common sense financial planning 101 ad nauseum to Floridians all day. I don't fault you for confusing the responsibilities of CitiStreet and Ernst & Young -- the way the main MyFRS toll free number is set up, calling that number can route you to Ernst & Young, the mouth breathers at the Florida Division of Retirement or Citistreet. By the way, it may interest you to know a few things I have learned from several months of working on the Ernst & Young financial guidance line: 1) Cops in Florida who are covered by the FRS get phenomenal benefits: It's not uncommon for one to leave the job with $1.5 million+ in an FRS account after 25 years. 2) Most of the people staffing the E&Y Financial Guidance Line are temps. Ironically, we have no benefits and are paid to help FRS employees manage their benefits. 3) Most callers from Florida are as dumb as a box of hammers. Actually, it is CitiStreet — the administrator of the FRS Investment Plan — which processes distributions from Investment Plan accounts, and which requires a notarized letter for former FRS-covered employees to change their addresses.

Ernst & Young has nothing to do with the choice of investment options within the investment plan or its administration. Ernst & Young just staffs the “financial guidance line” where temps like me repeat the same common sense financial planning 101 ad nauseum to Floridians all day.

I don’t fault you for confusing the responsibilities of CitiStreet and Ernst & Young — the way the main MyFRS toll free number is set up, calling that number can route you to Ernst & Young, the mouth breathers at the Florida Division of Retirement or Citistreet.

By the way, it may interest you to know a few things I have learned from several months of working on the Ernst & Young financial guidance line:

1) Cops in Florida who are covered by the FRS get phenomenal benefits: It’s not uncommon for one to leave the job with $1.5 million+ in an FRS account after 25 years.

2) Most of the people staffing the E&Y Financial Guidance Line are temps. Ironically, we have no benefits and are paid to help FRS employees manage their benefits.

3) Most callers from Florida are as dumb as a box of hammers.

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