To amend Form DP-EXT, to include the printed name and position title of the Superintendent or designee from the agency.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-11.001Definitions

PURPOSE AND EFFECT: To amend Form DP-EXT, to include the printed name and position title of the Superintendent or designee from the agency.

SUMMARY: To amend Form DP-EXT.

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: the economic review conducted by the agency.

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) FS.

LAW IMPLEMENTED: 121.091(13) FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Garry Green, Chief, Bureau of Research and Education, Department of Management Services, Division of Retirement, 2450 Shumard Oak Blvd., Bldg. 2, Tallahassee FL 32311, [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

60S-11.001 Definitions.

The definitions in Rule 60S-6.001, F.A.C., apply to this section unless otherwise expressly stated, and when used in this section, the following words and terms have the meaning indicated:

(1) through (7) No change.

(8) DROP END DATE – means the date DROP participation ceases and shall be the date termination of all employment occurs as defined in paragraph 60S-6.001(69)(b), F.A.C., except as provided in subsection 60S-11.004(10), F.A.C., for elected officers. The DROP end date shall be effective as of the date of the participant’s designated deferred resignation, as stated on Form DP-ELE  (Rev. 04/09) http://www.flrules.org/Gateway/reference.asp?No=Ref-00391, Florida Retirement System Pension Plan Notice of Election to Participate in the Deferred Retirement Option Program (DROP) and Resignation of Employment, herein adopted by reference; or if applicable on Form DP-EXT, effective 04/17, (Rev. 04/09) http://www.flrules.org/Gateway/reference.asp?No=Ref-________ http://www.flrules.org/Gateway/reference.asp?No=Ref-00392, Florida Retirement System Pension Plan Extension of Deferred Retirement Option Program (DROP) For Specified K-12 Instructional Personnel, herein adopted by reference, or earlier if the participant terminates prior to the designated resignation date. Form DP-ELE and Form DP-EXT may be obtained from the Forms page of the Division’s website, www.frs.MyFlorida.com, or by calling the Division 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]. The participant may cease participation in DROP prior to the designated resignation date only by satisfying the definition of termination as provided in paragraph 60S-6.001(69)(b), F.A.C.

(9) through (10) No change.

 

Rulemaking Authority 121.031, 121.091(13) FS. Law Implemented 121.021, 121.091(13) FS. History–New 9-16-03, Amended 4-5-12, 3-25-13,               ______________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Elizabeth Stevens, Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Chad Poppell, Secretary

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: February 24, 2017

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: December 14, 2016