To amend Rule 19-11.001, F.A.C., to add a definition of “Retirement Date Fund, ” and make a technical correction. To amend Rule 19-11.004, F.A.C., to indicate that members having a Self-Directed Brokerage Account (“SDBA”) are not subject to the ...

 

STATE BOARD OF ADMINISTRATION

RULE NOS.:RULE TITLES:

19-11.001Definitions

19-11.004Excessive Trading in the FRS Investment Plan

19-11.006Enrollment Procedures for New Hires

19-11.007Second Election Enrollment Procedures for the FRS Retirement Programs

19-11.008Forfeitures

19-11.012Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

PURPOSE AND EFFECT: To amend Rule 19-11.001, F.A.C., to add a definition of “Retirement Date Fund,” and make a technical correction. To amend Rule 19-11.004, F.A.C., to indicate that members having a Self-Directed Brokerage Account (“SDBA”) are not subject to the excessive trading policy discussed in the rule with respect to that account, but rather are subject to the applicable rules and restrictions of the funds contained within the SDBA. To amend Rule 19-11.006, F.A.C., to adopt the latest versions of the enrollment forms, and to indicate that the default investment fund is an age appropriate retirement date fund. To amend Rule 19-11.007, F.A.C., to adopt the updated Second Election forms. To amend Rule 19-11.008, F.A.C., to indicate that un-vested account benefits placed in a suspense account will be invested in the Pyramis Intermediate Duration Pool Fund. To amend Rule 19-11.012, F.A.C., to adopt the latest versions of the rollover forms.

SUBJECT AREA TO BE ADDRESSED: To update information and forms necessitated by the offering of a SDBA, and by certain changes to available investment funds of the FRS Investment Plan.

RULEMAKING AUTHORITY: 121.4501(8) FS.

LAW IMPLEMENTED: 121.021, 121.051, 121.055, 121.35, 121.78, 121.091, 121.4501(3), (4), (5), (13), (14) (15), (20), (21), 121.591, 732.802 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: Thursday, June 5, 2014, 9:00 a.m. – 11:00 a.m.

PLACE: Hermitage Room, the Hermitage Centre, 1801 Hermitage Blvd., Tallahassee, Florida 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: Tina Joanos, Agency Clerk, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Ruth A. Smith, Assistant General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, Florida 32308, [phone], [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.