To bring the Retiree Health Insurance Subsidy Section up to date.

Division of Retirement

RULE NO.:RULE TITLE:

60S-4.020Retiree Health Insurance Subsidy

PURPOSE AND EFFECT: To bring the Retiree Health Insurance Subsidy Section up to date.

SUMMARY: Update the Retiree Health Insurance Subsidy Section.

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: 112.363(7), 121.031(1) FS.

LAW IMPLEMENTED: 112.363 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, October 13, 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, Senior Benefits 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-4.020 Retiree Health Insurance Subsidy.

(1) through (2) No change.

(3) The Retiree Health Insurance Subsidy shall be paid to eligible persons by the Division. The amount of the monthly retiree health insurance subsidy payment shall be equal to the number of years of creditable service included in the calculation of the member’s retirement benefit multiplied by:

(a) $1, beginning January 1, 1988, the subsidy amount not to exceed $30, or be less than $10.

(b) $2, beginning January 1, 1989, the subsidy amount not to exceed $60, or be less than $20.

(c) $3, beginning January 1, 1991, the subsidy amount not to exceed $90, or be less than $30.

(d) $5, beginning January 1, 1999, the subsidy amount not to exceed $150, or be less than $50.

(e) $5, beginning July 1, 2001, the subsidy amount not to exceed $150, or be less than $30.

(4) No change.

Rulemaking Authority 112.363(7), 121.031(1)(2) FS. Law Implemented 112.363 FS. History–New 5-18-88, Amended 11-14-91, Formerly 22B-4.020, Amended 3-18-93, 2-24-99, 4-17-12, 3-25-13,__________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Dan Drake, Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Craig J Nichols, Agency Secretary

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: July 25, 2014

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: June 17, 2014