Florida Retirement System (FRS) eligible employees may submit their initial election and second plan election by electronic means. Rule 19-11.001 is being amended to provide a definition of “electronic signature,” and to state that an electronic ...

 

STATE BOARD OF ADMINISTRATION

RULE NOS.:RULE TITLES:

19-11.001Definitions

19-11.004Excessive Trading in the FRS Investment Plan

19-11.005Florida Retirement Systme (FRS) State Board of Administration Complaint Procedures

19-11.006Enrollment Procedures for New Hires

19-11.007Second Election Enrollment Procedures for the Florida Retirement System Retirement Programs

19-11.009Reemployment with an FRS-Participating Employer after Retirement

19-11.011Employer and Employee Contributions and ABO or Present Value Transfer Procedures

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

PURPOSE AND EFFECT: Florida Retirement System (FRS) eligible employees may submit their initial election and second plan election by electronic means. Rule 19-11.001 is being amended to provide a definition of “electronic signature,” and to state that an electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.004, F.A.C. is being amended to make a few minor editorial revisions. Rule 19-11.005 is being amended to adopt the most recent version of the Request for Intervention and Petition for Hearing forms. Rule 19-11.006 is being amended to adopt the latest versions of the applicable enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.007, F.A.C. is being amended to adopt the latest versions of the Second Election enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.009, F.A.C. is being amended to indicate that retired law enforcement officers who are reemployed by an FRS-participating employer as school resource officers may receive both a salary and retirement benefits once such individuals have been retired for 6 months. Rule 19-11.0011 is being amended to reflect the fact that Treasury Regulation 1.415-6(b)(6) no longer is effective and has been replaced by Revenue Procedure 2018-52. Rule 19-11.012, F.A.C. is amended to adopt the latest versions of the rollover forms. The proposed rule amendments do not impose any burdens on businesses; do not restrict entry into a profession; do not have an impact on the availability of services to the public; do not have an impact on job retention; do not impose any restrictions on employment seekers; and do not impose any costs. No legislative ratification is required.

SUBJECT AREA TO BE ADDRESSED: To adopt updated forms; to set forth some clarifications and updated information; to make certain provisions regarding electronic signatures.

RULEMAKING AUTHORITY: 121.78(3)(c); 121.4501(8 ) FS.

LAW IMPLEMENTED: 119.071, 120.569, 120.57, 120.573, 121.021, 121.051, 121.055, 121.091, 121.35, 121.4501(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (19), 121.591, 121.5912; 121.71, 121.72, 121.74.

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: Monday, November 26, 2018, 9:00 a.m. – 11:00 a.m.

PLACE: Room 116 (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, FL 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, FL 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, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Tallahassee, FL 32308, [phone], [e-mail]

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