To adopt a revised form.

STATE BOARD OF ADMINISTRATION

RULE NO: RULE TITLE
19-12.007: Acceptance of Rollovers
PURPOSE AND EFFECT: To adopt a revised form.
SUMMARY: To adopt a revised version of the rollover instructions and form.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: The agency has determined that this rule will not have an impact on small business. A SERC has been prepared in an abundance of caution.
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.
SPECIFIC AUTHORITY: 121.4501(5)(c) FS.
LAW IMPLEMENTED: 121.4501(5)(c), (21) 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:
DATE AND TIME: Monday, April 13, 2009, 9:00 a.m. – 11:00 a.m.
PLACE: Hermitage Room, Hermitage Centre, 1801 Hermitage Blvd., Tallahassee, FL 32308
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: Cindy Morea, Office of Defined Contributions, SBA, 1801 Hermitage Blvd., Tallahassee, FL 32308; [phone]; [e-mail]. 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: Cindy Gokel, SBA, 1801 Hermitage Blvd., Tallahassee, FL 32308; [phone]; [e-mail]

THE FULL TEXT OF THE PROPOSED RULE IS:

19-12.007 Acceptance of Rollovers.

(1) through (4) No change.

(5) Instructions regarding check delivery and other information relating to the processing of rollovers may be obtained by calling the MyFRS Financial Guidance Line which is a toll free line: 1(866)446-9377 or accessing the website at www.MyFRS.com. Participants shall use Form IPRO-1, rev. 11-08 09-05, “Employee Rollover Deposit Instructions and Form,” which is hereby adopted and incorporated by reference, to effect rollovers described in this rule. Former DROP members shall use Form IP-DROP-RO-1, “DROP Direct Rollover Form for Former DROP Members,” rev. 07-05, and current DROP members planning to roll over their DROP accumulation shall use Form IP-DROP-AD-1, “DROP Accumulation Direct Rollover Form for Current DROP Members,” rev. 07-05, both of which are adopted and incorporated by reference, to effect rollovers described in this rule.

(6) No change.

Rulemaking Specific Authority 121.4501(5)(c) FS. Law Implemented 121.4501(5)(c), (21) FS. History–New 12-8-02, Amended 10-21-04, 3-9-06, 10-25-07, ________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Ron Poppell, Office of Defined Contributions
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Trustees of the State Board of Administration
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 10, 2009
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: January 23, 2009