21135832, 19-11.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 21135832

Notice of Development of Rulemaking

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

PROCEDURES FOR THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-11.001	Definitions
19-11.004	Excessive Trading in the FRS Investment Plan
19-11.005	Florida Retirement System (FRS) State Board of Administration Complaint Procedures
19-11.006	Enrollment Procedures for New Hires
19-11.007	Second Election Enrollment Procedures for the Florida Retirement System Retirement Programs
19-11.009	Reemployment with an FRS-Participating Employer after Retirement
19-11.011	Employer and Employee Contributions and ABO or Present Value Transfer Procedures
19-11.012	Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

PURPOSE:

Florida Retirement System (FRS) eligible employees may submit their initial election and second plan election by electronic means. Rule 19-11.001 is being amended to provide a definition of “electronic signature,” and to state that an electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.004, F.A.C. is being amended to make a few minor editorial revisions. Rule 19-11.005 is being amended to adopt the most recent version of the Request for Intervention and Petition for Hearing forms. Rule 19-11.006 is being amended to adopt the latest versions of the applicable enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.007, F.A.C. is being amended to adopt the latest versions of the Second Election enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature.  Rule 19-11.009, F.A.C. is being amended to indicate that retired law enforcement officers who are reemployed by an FRS-participating employer as school resource officers may receive both a salary and retirement benefits once such individuals have been retired for 6 months. Rule 19-11.0011 is being amended to reflect the fact that Treasury Regulation 1.415-6(b)(6) no longer is effective and has been replaced by Revenue Procedure 2018-52. Rule 19-11.012, F.A.C. is amended to adopt the latest versions of the rollover forms. The proposed rule amendments do not impose any burdens on businesses; do not restrict entry into a profession; do not have an impact on the availability of services to the public; do not have an impact on job retention; do not impose any restrictions on employment seekers; and do not impose any costs.  No legislative ratification is required.

SUBJECT:

To adopt updated forms; to set forth some clarifications and updated information; to make certain provisions regarding electronic signatures.

RULEMAKING AUTHORITY:

121.78(3)(c); 121.4501(8 ) FS.

LAW:

119.071, 120.569, 120.57, 120.573, 121.021, 121.051, 121.055, 121.091, 121.35, 121.4501(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (19), 121.591, 121.5912; 121.71, 121.72, 121.74.

PRINT PUBLISH DATE:

11/8/2018 Vol. 44/219

RELATED STATUTES
AND LAWS:

121.78(3)(c); 121.4501(8 ) FS., 119.071, 120.569, 120.57, 120.573, 121.021, 121.051, 121.055, 121.091, 121.35, 121.4501(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (19), 121.591, 121.5912; 121.71, 121.72, 121.74.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://www.flrules.org/gateway/ruleno.asp?id=19-11.001&PDate=11/8/2018&Section=1

REFERENCE MATERIALS:

No reference(s).

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