To incorporate by reference these four new forms: Optional Annuity Program Change Form, Optional Annuity Program Refund Form, Optional Annuity Program Retire Form and Optional Annuity Program Required Minimum Distribution (RMD) Form.

 

DEPARTMENT OF MANAGEMENT SERVICES

Senior Management Service Optional Annuity Program

RULE NO.:RULE TITLE:

60V-1.007Approved Forms

PURPOSE AND EFFECT: To incorporate by reference these four new forms: Optional Annuity Program Change Form, Optional Annuity Program Refund Form, Optional Annuity Program Retire Form and Optional Annuity Program Required Minimum Distribution (RMD) Form.

SUMMARY: Incorporate by reference four new forms.

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: 121.031 FS.

LAW IMPLEMENTED: 121.055 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: Wednesday, January 21, 2015, 10:30 a.m.

PLACE: 2450 Shumard Oak Blvd., Bldg. 2, Room 2-1460, Tallahassee, FL

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: Beth Rissinger, Operation and Pension Analyst, Division of Retirement, Department of Management Services at [phone]. 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, 2450 Shumard Oak Blvd., Bldg., 2, Room 2-1460, Tallahassee, FL, [phone]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

60V-1.007 Approved Forms.

The following is a list of the forms utilized by the Division of Retirement in its dealings with the participants in the Senior Management Service Optional Annuity Program, which are hereby incorporated by reference into these rules. A copy of these forms may be obtained by calling the Division at (850)488-88375706. If calling from outside the Tallahassee calling area, you may call the Division toll-free at (877)377-36751737 or by writing to the Division of Retirement at P. O. Box 9000, Tallahassee, FL 32315-9000. These forms may also be printed or downloaded from the Division’s website (http://frs.myflorida.com) or from the cooperative website of the Division and the State Board of Administration (www.myfrs.com).

(1)(a) Division Forms:

FORM NO./REVISION DATETITLE/DESCRIPTION

1. OAP-ETF (Rev. 06/2011 07/07)     2. OAP-CHANGE (Rev. 07/14)   3. OAP-REFUND (Rev. 07/14)   4. OAP-RETIRE (Rev. 07/14)   5. OAP-RMD (Rev. 07/14)

Florida Retirement System State Senior Management Service Optional Annuity Program (SMOAP) Employee Termination Form – Supplemental Statement for Distributions – a one-page form Senior Management Service Optional Annuity Program (SMSOAP) Change Form – a one-page form Senior Management Service Optional Annuity Program (SMSOAP) Refund Form – a two-page form Senior Management Service Optional Annuity Program (SMSOAP) Retire Form – a three-page form Senior Management Service Optional Annuity Program (SMSOAP) Required Minimum Distribution Form – a two-page form

(b) State Board of Administration Forms

FORM NO./REVISION DATE	TITLE
1. SMS-1 (Rev. 07/07)	State Senior Management Service Employees Retirement Plan Enrollment Form
2. Form SMS-4 (11/05)	Retirement Plan Conversion Form for Local Employer Senior Management Service Class (SMSC) Members

Rulemaking Specific Authority 121.031 FS. Law Implemented 121.055 FS. History–New 1-4-93, Amended 1-10-95, 5-14-95, 9-18-96, 10-14-98, 1-24-00, 12-19-00, 9-18-07, 5-22-08,_________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Dan Drake, Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Craig Nichols, Agency Secretary

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: November 4, 2014

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: September 20, 2014