To incorporate by reference one revised division form. The revision is to simplify and clarify the instructions and make the designation choices easier to understand.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-11.004Benefits

PURPOSE AND EFFECT: To incorporate by reference one revised division form. The revision is to 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, 121.091(13)(k) FS.

LAW IMPLEMENTED: 121.091, 121.131 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: Monday, April 21, 2014, 10:30 a.m., ET

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, Operation and Pension 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-11.004 Benefits.

(1) through (6) No change.

(7) DROP benefits shall be subject to the provisions of Rules 60S-4.014 and 60S-4.021, F.A.C., pertaining to assignment, execution, or attachment of benefits, and forfeiture of benefits, respectively. The Alternate Payee of a DROP participant as a result of an approved Qualified Domestic Relations Order may designate a beneficiary on Form DP-12 (Rev. 09/13 02/06) http://www.flrules.org/Gateway/reference.asp?No=Ref-03398, http://www.flrules.org/Gateway/reference.asp?No=Ref-00390, Florida Retirement System Pension Plan Beneficiary Designation Form for the Alternate Payee of a DROP Participant, herein adopted by reference, in the event the Alternate Payee predeceases the DROP participant during the period of DROP participation. Form DP-12 may be obtained by calling the Division’s Survivor Benefits 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].

(8) through (14) No change.

Rulemaking Authority 121.031, 121.091(13)(k) FS. Law Implemented 121.091, 121.131 FS. History–New 9-16-03, Amended 4-5-12, 3-25-13,__________.

 

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: March 11, 2014

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: January 24, 2014