DEPARTMENT OF FINANCIAL SERVICES
RULE NO.:RULE TITLE:
69C-6.003The Plan; Prescribed Forms
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 41 No. 250, December 30, 2015 issue of the Florida Administrative Register.
These changes are being made to address comments expressed by the Joint Administrative Procedures Committee.
Form DFS-J3-1541
IV. Approval and Termination of Investment Products
Selection of investment products to be made available through the State of Florida’s 457(b) Plan Deferred Compensation Program and replacement or termination of investment products must be approved in writing by the Department and may be reviewed with written comments by the State Board of Administration (SBA) as the Department determines the review is necessary pursuant to Section 112.215(4)(a) F.S. prior to the change becoming effective.
A. New Investment Product Approvals
Approval of new investment products must be made by the Department using the quantitative criteria listed in Table A and the qualitative criteria listed in Section IV C. The Department shall evaluate recommendations made by Investment Providers to determine if all criteria are met and if all criteria are met, and agreed upon by the Department, In addition, the Department may submit proposed new investment products to the SBA for review pursuant to Section 112.215(4)(a) F.S. The Department has final approval for all investment product changes. This process must be completed and documented by the Department prior to the offering of new products to participants. This process does not apply to products offered in the Self Directed Brokerage Window.
The remainder of the proposed rule reads as previously published.
