9851434, 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: 9851434

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
19-11.003	Distributions from FRS Investment Plan Accounts
19-11.009	Reemployment with an FRS-Participating Employer after Retirement

PURPOSE:

To update certain procedures concerning members who utilize an incorrect beneficiary designation form; to provide that a beneficiary who unlawfully kills or procures the death of a member forfeits all rights to the member’s benefits; to indicate under what circumstances an account will be established for a beneficiary; to add specific information pertaining to distributions currently set forth in Rule 12-19.006, F.A.C.; to clarify information concerning required minimum distributions; to add information regarding member requests seeking documentation of a disbursement made prior to August 30, 2007, and to reflect recent legislative changes pertaining to employment after retirement.

SUMMARY:

To update information concerning beneficiary designations, beneficiaries, distributions, and required minimum distributions; to add certain information concerning documentation of disbursements made prior to a certain date; and to reflect recent legislative changes pertaining to reemployment after retirement.

RULEMAKING AUTHORITY:

121.4501 (3)(c)4.,(8)(a) FS.

LAW:

121.021(29), (39), 121.091(5)(j), (8), (9), 121.4501(2), (20), 121.591, 121.77, 732.802 FS.

PRINT PUBLISH DATE:

4/22/2011 Vol. 37/16

COMMENTS:

From 4/22/2011 To 5/13/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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