Application of Rule Chapter; Definitions, Application for Participation in the Program, Participation Agreement, Payment and Minimum Contributions, Maximum Account Balance Limit, Change of Benefactor, Change of Designated Beneficiary, Contingent ...

STATE BOARD OF ADMINISTRATION
Florida Prepaid College Board

RULE NO.: RULE TITLE:
19B-16.001: Application of Rule Chapter; Definitions
19B-16.002: Application for Participation in the Program
19B-16.003: Participation Agreement
19B-16.004: Payment and Minimum Contributions
19B-16.005: Maximum Account Balance Limit
19B-16.006: Change of Benefactor
19B-16.007: Change of Designated Beneficiary
19B-16.008: Contingent Benefactor
19B-16.009: Rollover Distributions
19B-16.010: Termination and Withdrawal; Distributions
19B-16.011: Unclaimed Refunds
19B-16.012: Fee Schedule

NOTICE OF CORRECTION

Notice is hereby given that the following correction has been made to the proposed rule in Vol. 39 No. 55, March 20, 2013 issue of the Florida Administrative Register.

The Florida Prepaid College Board is noticing correction of the Notice of Proposed Rule to reflect that the Agency has determined that the proposed rules are 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: Compliance with the proposed rules is not anticipated to require additional time or costs to be expended by the Agency or participants in the Florida College Savings Plan.  The primary purposes of the rule amendments are to reflect new Investment Options under the Florida College Savings Program; to recognize a minimum threshold for refunds of fifty dollars ($50.00) before sending notices one year prior to escheatment; to set forth a right of survivorship for beneficiaries; to set forth factors the Florida Prepaid College Board may consider in setting the Administration Fee for the 529 Savings Plan; and to reduce redundancy.