Amending the rules of the Division of Retirement to delete obsolete language.

 

DEPARTMENT OF MANAGEMENT SERVICES
IFAS Supplemental Benefit Program

RULE NO.:RULE TITLE:
60W-2.002Statements of Policy
PURPOSE AND EFFECT: Amending the rules of the Division of Retirement to delete obsolete language.
SUMMARY: Deletes subsection (5) of Rule 60W-2.002, F.A.C., as Section 121.40, F.S., provides no such limitation that would prohibit a retiree of the IFAS who is reemployed with a participating FRS employer from being enrolled into a state administered retirement plan unless the participant previously retired from a state administered retirement plan.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:
The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.
The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: Not required because there are no adverse impacts on economic growth, business competitiveness or regulatory costs of more than $1M in the aggregate within five years of implementation.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 121.40(13) FS.
LAW IMPLEMENTED: 121.40 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: January 4, 2013, 10:00 a.m., ET
PLACE: Division of Retirement of the Department of Management Services, Director’s Conference Room, Suite 208, 1317 Winewood Blvd., Bldg 8, Tallahassee, Florida 32399-1560
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 48 hours before the workshop/meeting by contacting: Richard Clifford, Senior Benefits Analyst, Division of Retirement, Department of Management Services at [phone] or via e-mail at [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 IS: Garry Green, Operations and Management Consultant Manager, Department of Management Services, Division of Retirement, 1317 Winewood Blvd., Bldg. 8, Tallahassee FL 32399-1560, [phone]

THE FULL TEXT OF THE PROPOSED RULE IS:

 

60W-2.002 Statements of Policy.

(1) through (4) No change.

(5) A participant who has retired under the Institute’s Supplemental Benefit Program and who is reemployed by an employer who participates in the Florida Retirement System shall not be eligible to receive retirement credit for service performed during any period of reemployment after his supplemental benefit commences, as provided in paragraph 60W-4.009(2)(a), F.A.C.

Rulemaking Authority 121.40(13)(14) FS. Law Implemented 121.40 FS. History–New 2-4-86, Formerly 22Q-2.002, Amended_______.

NAME OF PERSON ORIGINATING PROPOSED RULE: Sarabeth Snuggs, Director, Division of Retirement
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Craig J. Nichols, Secretary, Department of Management Services
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: November 8, 2012
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: October 3, 2012, Vol. 38/42