Purpose


To amend Rule 19-11.001, F.A.C. to correct some typographical errors and to add definitions that are used for federal SECURE Act purposes as applied to after-death distributions of members’ FRS Investment Plan accounts, as discussed in Rule 19-11.002, F.A.C.. To amend Rule 19-11.002, F.A.C. to incorporate the latest version of the on-line beneficiary designation form; to specify when a beneficiary designation form is considered “incomplete;” and to indicate how distributions of account assets will be made to beneficiaries of members dying after January 1, 2022, the effective date of the federal SECURE Act for governmental retirement plans. To amend Rule 19-11.003, F.A.C. to clarify when a member has terminated all employment for purposes of distributions of benefits; and to adopt the latest version of the Employment Termination form. To amend Rule 19-11.004, F.A.C. to adopt the latest version of the transfer request form that must be filed by excessive fund trading violators. Rule 19-11.005, F.A.C., is being amended to clarify how a member can obtain a blank petition for hearing form. To amend Rule 19-11.006 to adopt the latest versions of the applicable enrollment forms and to make some editorial revisions. To amend Rule 19-11.007, F.A.C. to adopt the latest versions of the Second Election enrollment forms. To amend Rule 19-11.008, F.A.C. to indicate that funds placed in a suspense account will be invested in the FRS Core Plus Bond Fund. To amend Rule 19-11.009 to adopt the latest version of the Certification Form. To amend Rule 19-11.011, F.A.C. to clarify that FRS participating employers are required to file monthly retirement reports instead of monthly payroll files with the Division of Retirement. Rule 19-11.012, F.A.C., is being amended to adopt the latest versions of the rollover forms. Rule 19-11.013, F.A.C. is amended to eliminate the annual administrative fee for FRS members participating in the Self-Directed Brokerage Account