Amending the rules of the Division of Retirement to correspond with statutory changes up through the 2012 Legislative session and deleting obsolete language.

 

DEPARTMENT OF MANAGEMENT SERVICES
IFAS Supplemental Benefit Program

RULE NOS.:RULE TITLES:
60W-3.003Contributions for Participants
60W-3.004Contributions for Reemployed Participants Receiving Supplemental Benefits
60W-3.005Payment of Contributions
PURPOSE AND EFFECT: Amending the rules of the Division of Retirement to correspond with statutory changes up through the 2012 Legislative session and deleting obsolete language.
SUMMARY: Updates contributions rates in accordance with statute; updates the day contributions are due to the division in accordance with Section 121.78, F.S., due to the consolidation of IFAS into the FRS as provided in Section 121.047, F.S.; Deletes references to the payment of Social Security contributions as such payments are now remitted directly to the IRS instead of the Division as provided in Chapter 650, F.S.
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: 112.363(7), 121.40(13) FS.
LAW IMPLEMENTED: 112.363, 121.122, 121.40, 121.40(11), (12) 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-3.003 Contributions for Participants.

Supplemental retirement contributions for participants are as provided in Section 121.40 (12), F.S. follows:

Dates of Rate ChangesParticipantsEmployer

July 1, 1985 through0%6.68%

December 31, 1988

January 1, 19890%6.35%

through

December 31, 1993

January 1, 1994,0%6.69%

through

December 1, 1994

January 1, 1995,0%6.82%

through June 30, 1996

July 1, 1996, through0%5.64%

June 30, 1998

Effective July 1, 19980%7.17%

Rulemaking Specific Authority 121.40(13)(14) FS. Law Implemented 121.40 FS. History–New 2-4-86, Amended 2-7-89, Formerly 22Q-3.003, Amended 8-4-94, 12-12-96, 2-24-99,_________.

 

60W-3.004 Contributions for Reemployed Participants Receiving Supplemental Benefits.

(1) Contributions for any retired participant who is receiving supplemental benefits and who is reemployed in a regularly established position by any employer who participates in the Florida Retirement System as provided in subsection 60W-4.009(2), F.A.C., except for a retired participant who is elected or appointed to a position eligible for the Elected State and County Officers’ Class, shall be as follows:

(a) No change

(b) Effective July 1, 1991, such retiree shall be enrolled as a renewed member in the Regular Class of the Florida Retirement System as provided in Section 121.122, F.S., and the contributions required shall be equal to the total contributions required for Regular Class members under the Florida Retirement System. as provided in subsecetions 60S-3.003(1) and (7), F.A.C.  Effective July 1, 1997, such retiree employed in a position included in the Senior Management Service Class shall be enrolled as a member in the Senior Management Service Class and the contributions shall be equal to the total contributions required for Senior Management Service Class members under the Florida Retirement System.  Effective July 1, 2010, if such retiree previously retired from a state administered retirement system, he or she shall not be eligible for renewed membership in the Florida Retirement System as provided in Section 121.122, F.S., and the employer shall pay retirement contributions in an amount equal to the unfunded actuarial liability portion of the employer contribution that would be required for active members of the Florida Retirement System as provided in Section 121.71(5), F.S., in addition to the contributions required by Section 121.76, F.S.

(2) Social Security contributions for certain reemployed retired participants as provided in subsection 60W-4.009(5), F.A.C., shall be required of each such retired participant and shall be withheld from his or her salary each payroll period in the amount required for Social Security coverage by the federal Social Security Act. The employer shall contribute an equal amount each payroll period.

Rulemaking Specific Authority 112.363(7), 121.40(13)(14) FS. Law Implemented 121.40(11), (12), 112.363, 121.122, FS. History–New 2-4-86, Amended 5-18-88, 2-7-89, 11-14-91, Formerly 22Q-3.004, Amended, ___________.

 

60W-3.005 Payment of Contributions.

(1) All contributions for participants for current employment and all contributions for reemployed retired participants shall be paid to the Division. Such contributions for each payroll period are due and payable each month no later than the 520th working day of the month following the month in which covered wages are paid; however, if the due date falls on a weekend or holiday, the due date shall be the next succeeding workday.

(2) Social Security contributions for certain reemployed retired participants shall be paid to the Division and are due and payable as follows:

(a) Contributions on wages paid at any time from the 1st day through the 15th day of the month are due on the 20th day of that same month.

(b) Contributions on wages paid at any time from the 16th day through the last day of the month are due on the 5th day of the following month.

(c) If the due date falls on a weekend or holiday, the due date shall be the preceding workday.

Rulemaking Specific Authority 121.40(13)(14) FS. Law Implemented 121.40(11), (12) FS. History–New 2-4-86, Formerly 22Q-3.005, 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