For Rules 19-11.002, 19-11.006 and 19-11.007, to adopt revised enrollment forms and second election enrollment forms that will provide additional disclosures concerning the funded status of the FRS Pension Plan, the fact that employer contributions ...

 

STATE BOARD OF ADMINISTRATION

RULE NOS.:RULE TITLES:

19-11.002Beneficiary Designations and Distributions for FRS Investment Plan

19-11.006Enrollment Procedures for New Hires

19-11.007Second Election Enrollment Procedures for the FRS Retirement Programs

19-11.012Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

PURPOSE AND EFFECT: For Rules 19-11.002, 19-11.006 and 19-11.007, F.A.C., to adopt revised enrollment forms and second election enrollment forms that will provide additional disclosures concerning the funded status of the FRS Pension Plan, the fact that employer contributions to the FRS can vary, and the 8 year vesting requirement of the FRS Pension Plan. Rule 19-11.012, F.A.C., is being amended to clarify the circumstances under which rollovers cannot be accepted by the FRS Investment Plan.

SUBJECT AREA TO BE ADDRESSED: To adopt revised enrollment and second election enrollment forms that contain additional disclosure information for the benefit of FRS plan members. To expand and clarify information pertaining to rollovers into the FRS Investment Plan. There are no other rules incorporating any of these proposed rules.

RULEMAKING AUTHORITY: 121.4501(8) FS.

LAW IMPLEMENTED: 121.051, 121.055, 121.35, 121.091, 121.4501, 121.591, 121.73, 121.74, 121.78 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: Friday, October 25, 2013, 9:00 a.m. – 11:00 a.m.

PLACE: Hermitage Room, the Hermitage Centre, 1801 Hermitage Blvd., Tallahassee, Florida 32308

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Tina Joanos, Agency Clerk, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 32308, [phone], [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT IS: Ruth A. Smith, Assistant General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 32308, [phone], [e-mail].

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.