To amend forms to include contact information for beneficiaries. To amend documentation accepted for proof of birth verification. To require the submission of a marriage certificate the time of application under option 3 or 4.

 

DEPARTMENT OF MANAGEMENT SERVICES

Division of Retirement

RULE NO.:RULE TITLE:

60S-11.002Participation

PURPOSE AND EFFECT: To amend forms to include contact information for beneficiaries. To amend documentation accepted for proof of birth verification. To require the submission of a marriage certificate the time of application under option 3 or 4.

SUMMARY: Amendment of forms including DP-11 and DT-11 to include contact information for beneficiaries to assist with reaching these beneficiaries upon a member or retiree’s death. To amend documentation accepted for proof of birth verification. To require the submission of a marriage certificate the time of application for retirement if a member is choosing option 3 or 4 and naming their spouse as their beneficiary.

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: 121.021, 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: Friday August 12, 2016 at 10 a.m.

PLACE: 2450 Shumard Oak Blvd., Bldg. 2, Tallahassee FL 32311

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Garry Green, Chief, Bureau of Research and Member Communications, Department of Management Services, Division of Retirement, 2450 Shumard Oak Blvd., Bldg. 2, Tallahassee FL 32311, 850-414-6349

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

60S-11.002 Participation.

(1) through (2) No change.

(3) Application to Participate –

(a) Member’s Responsibility – It shall be the responsibility of the eligible member to make proper application to the Division to participate in DROP. To qualify for DROP, the member shall submit to the Division:

1. No change.

2. Form DP-11, effective 08/16, (Rev. 11/10) http://www.flrules.org/Gateway/reference.asp?No=Ref-________ http://www.flrules.org/Gateway/reference.asp?No=Ref-00389, Florida Retirement System Pension Plan Application for Service Retirement and the Deferred Retirement Option Program (DROP); or Form DS-11 (Rev. 07/06) http://www.flrules.org/Gateway/reference.asp?No=Ref-00400, State and County Officers’ and Employees’ Retirement System Application for Service Retirement and the Deferred Retirement Option Program (DROP); or Form DT-11, effective 08/16, (Rev. 07/06) http://www.flrules.org/Gateway/reference.asp?No=Ref-          http://www.flrules.org/Gateway/reference.asp?No=Ref-00401, Teachers’ Retirement System Application for Service Retirement and the Deferred Retirement Option Program (DROP). All such forms are herein adopted by reference and 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]. Such application will be accepted by the Division up to 6 months in advance of the intended DROP begin date, and shall establish the member’s effective date of retirement and DROP begin date. The effective date of retirement and the DROP begin date shall both be the first day of the month that the member indicates on his or her application as the date he or she wishes his or her DROP participation to begin, provided the Division receives the member’s application no later than the close of business on the last day of the month in which the DROP begin date occurs. If a member fails to apply for DROP by the last day of the month in which his or her intended DROP begin date occurs, the effective date of retirement and the DROP begin date shall be the first day of the month in which the Division receives the member’s application, provided the application is received within the 12-month election as provided in subsection 60S-11.002(2), F.A.C.

(b) Division’s Responsibility – When the Division receives a member’s application for DROP the Division will:

1. Acknowledge receipt of the member’s application and advise him or her of any required information or documents that have not yet been received. Such information may include, but is not limited to, birth date verification as required by subsection 60S-4.0035(2), F.A.C., beneficiary designation as required by subsection 60S-11.004(2), F.A.C., option selection as required by Rule 60S-4.010, F.A.C., spousal acknowledgment if option 1 or 2 is selected as required by subsection 60S-4.010(9), F.A.C., marriage certificate if option 3 or 4 is selected as required in subsection 60S-4.0035(3), F.A.C., any payments due the member’s account for purchase of additional service credit or a written statement from the member that the member does not wish to claim such service credit, and certification of final salary and accumulated annual leave payments as defined in Rule 60S-6.001, F.A.C.

2. through 3. No change.

Rulemaking Authority 121.031, 121.091(13) FS. Law Implemented 121.021, 121.091, 1012.01 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: July 12, 2016

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: June 16, 2016