To incorporate by reference two revised division forms. The revisions to Form BEN-001 simplify and clarify the designation of beneficiary instructions. The revisions to Form FST-12 simplify and clarify the instructions and make the designation ...

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-4.011Designation of Beneficiary

PURPOSE AND EFFECT: To incorporate by reference two revised division forms. The revisions to Form BEN-001 simplify and clarify the designation of beneficiary instructions. The revisions to Form FST-12 simplify and clarify the instructions and make the designation choices easier to understand.

SUMMARY: The amendment set forth replaces a division form with a revised division form.

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.121.031 FS.

LAW IMPLEMENTED: 121.021121.021, 121.091(6) (8) 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: Tuesday, March 11, 2014, 10:00 a.m.

PLACE: Division of Retirement of the Department of Management Services, Director’s Conference Room, Suite 208, 1317 Winewood Blvd., Bldg. 8, Tallahassee, Florida 32399-1560

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, Senior Benefits 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, 1317 Winewood Blvd., Bldg. 8, Tallahassee FL 32399-1560, [phone]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

60S-4.011 Designation of Beneficiary.

(1) through (4)(b) No change.

(c) Such beneficiary designation shall be made on the Form BEN-001 (Rev. 09/13), http://www.flrules.org/Gateway/reference.asp?No=Ref-03756, (Rev. 06/04), http://www.flrules.org/Gateway/reference.asp?No=Ref-00409, Florida Retirement System Pension Plan Beneficiary Designation Form Active Members Only, herein adopted by reference, which may be obtained from the Forms page of the Division’s website, www.frs.MyFlorida.com, or by calling the Division’s Enrollment Section Toll Free at [phone], if calling from outside the Tallahassee calling area or locally at [phone]. Individuals with a hearing or speech impairment may call the Division via T.D.D. at the Florida Relay System by dialing 711 or [phone].

(d) through (5)(a)2. No change.

3. Change his or her designation of beneficiary at any time on Form FST-12 (Rev. 09/13, http://www.flrules.org/Gateway/reference.asp?No=Ref-03755, (Rev. 12/02), http://www.flrules.org/Gateway/reference.asp?No=Ref-00363, Florida Retirement System Pension Plan Beneficiary Designation Form (Retired Members Only), herein adopted by reference, which may be obtained from the Forms page of the Division’s website, www.frs.MyFlorida.com, or by calling the Division’s Bureau of Retirement Calculations Toll Free at [phone], if calling from outside the Tallahassee calling area or locally at [phone]. Individuals with a hearing or speech impairment may call the Division via T.D.D. at the Florida Relay System by dialing 711 or [phone].

(b) through (f) No change.

Rulemaking Authority 121.031 FS. Law Implemented 121.021, 121.091(6), (8) FS. History–New 1-1-72, Amended 12-31-74, 1-19-82, 9-9-82, Formerly 22B-4.11, Amended 2-7-89, 9-5-90, 5-15-91, 11-14-91, 9-8-92, Formerly 22B-4.011, Amended 3-12-96, 2-24-99, 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 Nichols, Agency Secretary

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: January 28, 2014

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: February 13, 2014