Beneficiary Designation for FRS Investment Plan, Second Election Enrollment Procedures for the FRS Retirement Programs

STATE BOARD OF ADMINISTRATION

RULE NO: RULE TITLE
19-11.002: Beneficiary Designation for FRS Investment Plan
19-11.007: Second Election Enrollment Procedures for the FRS Retirement Programs

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. 34 No. 32, August 8, 2008 issue of the Florida Administrative Weekly.

(1) In Rule 19-11.002(7)(b), the whole paragraph will now read as follows, adding “Social Security Number” in addition to “Taxpayer Identification Number,” in three places.

(b) The FRS Investment Plan Administrator will, at the time of distribution, make a reasonable effort to obtain the beneficiary’s Social Security Number or Taxpayer Identification Number, using available search tools, including the internet, Nexis Lexis Accurint, the Internal Revenue Service, and the Social Security Administration.  Additionally, by calendar year-end, in the year the distribution occurred, the FRS Investment Plan Administrator will attempt to locate and obtain the Social Security Number or the Taxpayer Indentification Number of the beneficiary, and, at least one time in the calendar year following the distribution, to locate the beneficiary. The Investment Plan Adminstrator will document for the Internal Revenue Service the efforts taken to locate the beneficiary’s Social Security Number or Taxpayer Identification Number.

(2) In paragraph 19-11.007(5)(a), the ELE-2EZ enrollment form will have the rule number in which it is adopted displayed in accordance with Section 120.55(1)(a)4., Florida Statutes.