FRS Investment Plan Self-Directed Brokerage Account

 

STATE BOARD OF ADMINISTRATION

RULE NO.:RULE TITLE:

19-11.013FRS Investment Plan Self-Directed Brokerage Account

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 40, No. 33, February 18, 2014 issue of the Florida Administrative Register.

In response to comments provided by the Joint Administrative Procedures Committee the following changes are being made to paragraph 19-11.013(2)(b), F.A.C., and to subparagraph 19-11.013(6)(a)1., F.A.C.:

Paragraph (b) of subsection (2) of Rule 19-11.013, F.A.C., is being changed so that, when adopted, that paragraph will read:

(b) The member agrees to fully indemnify and hold harmless the member’s employer, the FRS, the State Board of Administration, and any and all service providers to the FRS against any claims, damages, or other possible causes of actions resulting from the member’s decision to participate in the SDBA or from the specific SDBA investment options selected by the member.

 

Paragraph (a)1.  of subsection (6) of Rule 19-11.013, F.A.C., is being changed so that, when adopted, that paragraph will read:

(6)(a)1. Any FRS Investment Plan member who has a complaint regarding the SDBA should call the Investment Plan Administrator at 1(866)446-9377, Option 4, and ask to speak to an SDBA specialist. If the SDBA specialist cannot resolve the complaint over the telephone, the member will be provided with instructions on how to submit a written complaint. If a written complaint is received by the SDBA provider, the SDBA provider will handle the written complaint regarding the SDBA in accordance with the Financial Industry Regulatory Authority (“FINRA”) Rule 4530.