To address in a more clear and concise manner, the retirement contributions and payment thereof for Military Leave of Absence service credit.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-2.005Credit for Military Service

PURPOSE AND EFFECT: To address in a more clear and concise manner, the retirement contributions and payment thereof for Military Leave of Absence service credit.

SUMMARY: To comply with federal qualification requirements for specific HEART Act implementation to keep the FRS a qualified plan as required by Section 121.30, F.S. and IRS notice 2010-15.

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.

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, 121.052(14) FS.

LAW IMPLEMENTED: 121.021, 121.052(5)(d), 121.111 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

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:

 

60S-2.005 Credit for Military Service.

(1) through (3)(b) No change.

(c) The required employer contributions shall be paid by the employer if the member was released from military service on or after December 3, 1974, in accordance with paragraph 60S-3.006(1)(b), F.A.C., or by the member if he or she was released from military service prior to December 3, 1974 in accordance with paragraph 60S-3.006(1)(a), F.A.C. If any employee contributions are required they shall be paid by the member in accordance with paragraph 60S-3.006(1)(a), F.A.C.; and

(d) No change.

(e) Notwithstanding section a.2. and 3. above, the beneficiary of a member who dies on or after January 1, 2007, while on a military leave of absence as described in subsection (1), above, that is subject to USERRA as described in Internal Revenue Code Section 414(u), which is incorporated by reference and can be found at http://www.gpo.gov/fdsys/pkg/USCODE-2010-title26/pdf/USCODE-2010-title26-subtitleA-chap1-subchapD-partI-subpartB-sec414.pdf, shall have the option to purchase military leave for the member, excluding a member who is participating in the Deferred Retirement Option Program. The member will be treated as if returning to covered employment the day before the death occurs, in accordance with Internal Revenue Code section 401(a)(37) , which is incorporated by reference and can be found at http://www.gpo.gov/fdsys/pkg/USCODE-2010-title26/pdf/USCODE-2010-title26-subtitleA-chap1-subchapD.pdf.

(2) through (j) No change.

Rulemaking Authority 121.031, 121.052(14), 121.30 FS. Law Implemented 121.021, 121.052(5)(d), 121.111, 121.30 FS. History–New 1-1-72, Amended 10-20-72, Repromulgated 12-31-74, Amended 1-16-77, 7-1-79, 1-19-82, 4-17-85, Formerly 22B-2.05, Amended 2-4-86, 2-7-89, 11-14-91, Formerly 22B-2.005, Amended 3-18-93, 4-5-95, 12-12-96, 2-24-99, 8-13-03, 4-5-12, 3-25-13,__________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Dan Drake, Director

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: November 19, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 21, 2013