To incorporate by reference a revised division form.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-4.009Benefits Payable After Termination

PURPOSE AND EFFECT: To incorporate by reference a revised division form.

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, 121.052(14) FS.

LAW IMPLEMENTED: 121.021, 121.052(5)(c), 121.055, 121.091 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, September 30, 2013, 9:00 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: Garry Green, Operations and Management Consultant Manager, 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-4.009 Benefits Payable After Termination.

(1) through (2) No change.

(3) In order to receive a refund of contributions under the Florida Retirement System, an FRS member must terminate all employment relationships with all FRS participating employers for three calendar months as provided in Section 121.021(39)(c), F.S., and submit a request for refund on Form FRS-M81 (Rev. 05/11), http://www.flrules.org/Gateway/reference.asp?No=Ref-00358, Florida Retirement System Pension Plan Request for Refund, herein adopted by reference, to the division. Form FRS-M81 may be completed and submitted online from the Refund Application page of the member’s Online Services account accessible from the Division’s website (www.frs.MyFlorida.com) or may be obtained from the Forms page of the Division’s website, www.frs.MyFlorida.com, or by calling the Division’s DROP Termination and Refund Payment Section Toll Free at [phone], if calling from outside the Tallahassee calling area, or locally at [phone], or if hearing or speech impaired by calling the Division via T.D.D. at the Florida Relay System by dialing 711 or [phone]. The division shall acknowledge the receipt of the FRS-M81 and send the member Form REF-PAYT (Rev. 10/12) http://www.flrules.org/Gateway/reference.asp?No=Ref-02452 (05/11) https://www.flrules.org/Gateway/reference. asp?No=Ref-01937, Florida Retirement System (FRS) Pension Plan Refund Payout Selection, herein adopted by reference, which may be obtained by calling the Division’s DROP Termination and Refund Payment Section Toll Free at [phone], if calling from outside the Tallahassee calling area, or locally at [phone], or if hearing or speech impaired by calling the Division via T.D.D. at the Florida Relay System by dialing 711 or [phone]. The member shall complete and return Form REF-PAYT to the division, indicating his or her refund payout selection. By obtaining a refund of contributions a member waives all rights under the Florida Retirement System to the service credit represented by the refunded contributions, except the right to purchase his or her prior service credit in accordance with Rule 60S-2.004, F.A.C. No refund of employee contributions shall be made until the employer has reported the employee’s termination through the payroll reporting process.

Rulemaking Authority 121.031, 121.052(14) FS. Law Implemented 121.021, 121.052(5)(c), 121.055, 121.091 FS. History–New 1-1-72, Amended 10-10-72, 12-31-74, 1-16-77, 8-26-81, Formerly 22B-4.09, Amended 1-12-87, 2-7-89, 11-14-91, Formerly 22B-4.009, Amended 8-4-94, 2-24-99, 4-5-12, 3-25-13,________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Dan Drake, Director

Division of Retirement

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

Department of Management Services

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: April 19, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: April 24, 2013