Amend OAP-RMD & OAP-CHANGE forms.

 

DEPARTMENT OF MANAGEMENT SERVICES

Senior Management Service Optional Annuity Program

RULE NO.: RULE TITLE:

60V-1.007: Approved Forms

PURPOSE AND EFFECT: Amend OAP-RMD & OAP-CHANGE forms.

SUMMARY: Amend OAP-RMD form to correct distribution options for those applying for a required minimum distribution. Amend OAP-CHANGE form to update providers.

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 economic review conducted 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: 121.031, 121.055 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, Chief, Bureau of Research and Education, Department of Management Services, Division of Retirement, 2450 Shumard Oak Blvd., Bldg. 2, Tallahassee FL 32311, 850-414-6349.

 

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 [phone]. If calling from outside the Tallahassee calling area, you may call the Division toll-free at [phone] 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 (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 DATE	TITLE/DESCRIPTION
1. No change.   2. OAP-CHANGE (Rev. 07/14) Effective 01/17   3. through 4. No change.   4. No change.   5. OAP-RMD (Rev. 07/14) Effective 01/17	Senior Management Service Optional Annuity Program (SMSOAP) Change Form – a one-page form, http://www.flrules.org/Gateway/reference.asp?No=Ref-______ http://www.flrules.org/Gateway/reference.asp?No=Ref-05170         Senior Management Service Optional Annuity Program (SMSOAP) Required Minimum Distribution Form – a two-page form, http://www.flrules.org/Gateway/reference.asp?No=Ref-______ http://www.flrules.org/Gateway/reference.asp?No=Ref-05173
1. No change.   2. OAP-CHANGE (Rev. 07/14) Effective 01/17   3. through 4. No change.   4. No change.   5. OAP-RMD (Rev. 07/14) Effective 01/17	Senior Management Service Optional Annuity Program (SMSOAP) Change Form – a one-page form, http://www.flrules.org/Gateway/reference.asp?No=Ref-______ http://www.flrules.org/Gateway/reference.asp?No=Ref-05170         Senior Management Service Optional Annuity Program (SMSOAP) Required Minimum Distribution Form – a two-page form, http://www.flrules.org/Gateway/reference.asp?No=Ref-______ http://www.flrules.org/Gateway/reference.asp?No=Ref-05173

(b) No change.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Elizabeth Stevens, Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Chad Poppell, Secretary

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: December 12, 2016

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 30, 2016