3002846, 69C-6.003 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 3002846

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Treasury

Chapter:

STATE OF FLORIDA EMPLOYEES DEFERRED COMPENSATION PLAN

Overview

RULE:

69C-6.003

The Plan; Prescribed Forms

PURPOSE:

The rule adopts revisions to the State of Florida Employees Deferred Compensation Plan as follows: A provision is added to allow loans to participants from their deferred compensation accounts under conditions permitted by federal law. Hardship withdrawal standards are changed as follows: Foreclosure is narrowed as a basis for a hardship withdrawal by requiring that the foreclosure be upon the participant’s primary residence rather than any real property. Eviction from a primary residence is added as a basis for hardship withdrawal to conform to a federal regulation on that point. “Dental or periodontal treatment that is necessary due to a sudden injury” is added as a basis for a hardship withdrawal. “Dental or periodontal treatment which is cosmetic or is necessary due to a chronic or degenerative condition such as periodontitis, decay, bruxism, or malocclusion not due a sudden injury” is added to the list of events for which a hardship withdrawal is not available. The amount that can be obtained through the simplified hardship withdrawal process in the event of a hurricane emergency is raised from $1,500.00 to $2,500.00.

SUBJECT:

Amendments to the Deferred Compensation Plan.

RULEMAKING AUTHORITY:

112.215(11) FS.

LAW:

18.125(4)(c), 112.215 FS.

PRINT PUBLISH DATE:

10/13/2006 Vol. 32/41

RELATED STATUTES
AND LAWS:

112.215(11) FS., 18.125(4)(c), 112.215 FS.

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=69C-6.003&PDate=10/13/2006&Section=1

REFERENCE MATERIALS:

No reference(s).

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