To add a new subsection to address the death of a member who dies while on a military leave of absence.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-4.008Benefits Payable Upon Death

PURPOSE AND EFFECT: To add a new subsection to address the death of a member who dies while on a military leave of absence.

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 FS.

LAW IMPLEMENTED: 61.1301, 112.18, 112.181, 121.021(14), 121.052(5), 121.055, 121.091(7) 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-4.008 Benefits Payable Upon Death.

(1)    through (8) No change.

(9) For a member who dies on or after January 1, 2007, while on a military leave of absence as described in subsection 60S-2.005(1), F.A.C., 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, the beneficiary shall be eligible for survivor benefits payable under Section 121.091(7), F.S., excluding in-line-of-duty survivor benefits, or under Section 121.091(13), F.S., if participating in the Deferred Retirement Option Program, as if the member returned 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.

Rulemaking Authority 121.031, 121.30 FS. Law Implemented 61.1301, 112.18, 112.181, 121.021(14), 121.052(5), 121.055, 121.091(7), 121.30 FS. History–New 1-1-72, Amended 10-20-72, 12-31-74, 7-21-75, 8-26-81, Formerly 22B-4.08, Amended 2-6-84, 1-12-87, 2-7-89, 9-5-90, 5-15-91, 11-14-91, Formerly 22B-4.008, Amended 3-18-93, 1-25-94, 8-4-94, 12-12-96, 5-10-99, 8-13-03, 4-5-12,_________.

 

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