The purpose of the amendments is to make changes to a State of Florida Employees Deferred Compensation Plan form.  

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    DEPARTMENT OF FINANCIAL SERVICES

    Division of Treasury

    RULE NO.:RULE TITLE:

    69C-6.003The Plan; Prescribed Forms

    PURPOSE AND EFFECT: The purpose of the amendments is to make changes to a State of Florida Employees Deferred Compensation Plan form.

    SUMMARY: The amendments to the State of Florida Employees Deferred Compensation Plan include changes to the Plan’s Investment Policy (Form DFS-J3-1541). The revisions add language to the definitions section, update the policy to conform to statutory requirements and implement minor administrative changes to the 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: The Bureau of Deferred Compensation conducted an analysis of the proposed rule’s potential economic impact and determined that it did not exceed any of the criteria established in subsection 120.541(1), F.S., and it therefore does not require legislative ratification pursuant to subsection 120.541(3), F.S.

    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: 112.215(12) FS.

    LAW IMPLEMENTED: 112.215 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: Thursday, January 28, 2016, 3:00 p.m.

    PLACE: Suite 440-C, Hermitage Centre, Suite 400, 1801 Hermitage Blvd., Tallahassee, Florida

    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 5 days before the workshop/meeting by contacting: Kandi Winters, telephone: (850)413-3162, email: Kandi.Winters@myfloridacfo.com.. 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: Kandi Winters, Chief of Deferred Compensation, Division of Treasury, Bureau of Deferred Compensation, Department of Financial Services, address: 200 East Gaines Street, Tallahassee, Florida 32399-0346, telephone: (850)413-3162, email: Kandi.Winters@myfloridacfo.com

     

    THE FULL TEXT OF THE PROPOSED RULE IS:

     

    69C-6.003 The Plan; Prescribed Forms.

    (1) No change.

    (2) The forms listed below are incorporated into and made a part of this rule chapter by reference and shall take effect on the effective date of this rule. The forms can be obtained from investment providers servicing the plan. A listing of authorized investment providers and the forms can be obtained from the Deferred Compensation Section, Division of State Treasury, 200 East Gaines Street, Tallahassee, Florida 32399-0346. The State of Florida Employees Deferred Compensation Plan may also be referred to as the “457b Plan.”

    (a) through (p) No Change.

    (q) Form DFS-J3-1541 (rev. ____) (rev. 03/15)

    http://www.flrules.org/Gateway/reference.asp?No=Ref-05102

     

     

    State of Florida Employees Deferred Compensation Plan Investment Policy for Product Selection and Retention ‒ (Establishes the standards for the State of Florida Employees Government Employees’ Deferred Compensation Plan; adopts criteria for the selection and retention of the Plan’s investment options; and provides a method for the quarterly evaluation and monitoring of the investment options)

    (r) through (u) No change.

    (3) through (4) No change.

    Rulemaking Authority 112.215(12) FS. Law Implemented 112.215 FS. History–New 1-1-87, Amended 10-7-87, 2-14-88, 2-19-89, 6-21-89, 8-7-95, 9-21-98, 6-11-02, Formerly 4C-6.003, Amended 8-26-04, 2-21-05, 7-9-06, 4-8-07, 6-26-13, 3-24-15, __________.

     

    NAME OF PERSON ORIGINATING PROPOSED RULE: Kandi Winters, Chief of Deferred Compensation, Division of Treasury, Bureau of Deferred Compensation, Department of Financial Services

    NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jeff Atwater, Chief Financial Officer, Department of Financial Services

    DATE PROPOSED RULE APPROVED BY AGENCY HEAD: December 23, 2015

    DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: October 23, 2015

Document Information

Comments Open:
12/30/2015
Summary:
The amendments to the State of Florida Employees Deferred Compensation Plan include changes to the Plan’s Investment Policy (Form DFS-J3-1541). The revisions add language to the definitions section, update the policy to conform to statutory requirements and implement minor administrative changes to the Plan.
Purpose:
The purpose of the amendments is to make changes to a State of Florida Employees Deferred Compensation Plan form.
Rulemaking Authority:
112.215(12), F.S.
Law:
112.215, F.S.
Contact:
Kandi Winters, Chief of Deferred Compensation, Division of Treasury, Bureau of Deferred Compensation, Department of Financial Services, address: 200 East Gaines Street, Tallahassee, Florida 32399-0346, telephone: (850)413-3162, email: Kandi.Winters@myfloridacfo.com.
Related Rules: (1)
69C-6.003. The Plan; Prescribed Forms