13857728, 19-11.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 13857728

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

PROCEDURES FOR THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-11.002	Beneficiary Designations and Distributions for FRS Investment Plan
19-11.006	Enrollment Procedures for New Hires
19-11.007	Second Election Enrollment Procedures for the Florida Retirement System Retirement Programs
19-11.012	Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

PURPOSE:

For Rules 19-11.002, 19-11.006 and 19-11.007, F.A.C., to adopt revised enrollment forms and second election enrollment forms that will provide additional disclosures concerning the funded status of the FRS Pension Plan, the fact that employer contributions to the FRS can vary, and the 8 year vesting requirement of the FRS Pension Plan. Rule 19-11.012, F.A.C., is being amended to clarify the circumstances under which rollovers cannot be accepted by the FRS Investment Plan.

SUMMARY:

To adopt revised forms containing additional disclosure information and to clarify the circumstances under which rollovers cannot be accepted by the FRS Investment Plan. There are no other rules incorporating any of these proposed rules. The proposed amendments do not have an impact on any other rules. Legislative ratification of these rule amendments is not required.

RULEMAKING AUTHORITY:

121.4501(8) FS.

LAW:

121.051, 121.055, 121.35, 121.091, 121.4501, 121.591, 121.73, 121.74, 121.78 FS.

PRINT PUBLISH DATE:

11/26/2013 Vol. 39/230

COMMENTS:

From 11/26/2013 To 12/17/2013 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

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