Ref-01827 IP Rollover Form - 10-12

Description:

Updated IP Rollover Form

Related Rules

• 19-11.012 Acceptance of Rollovers by the FRS Investment Plan
• 19-11.012 Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

Related Notices

• 12189134.To amend Rule 19-11.001, F.A.C., to provide that a “distributee” may include a non-spouse beneficiary; that an eligible retirement plan may include a Roth IRA or annuity; and that distributions consisting of after-tax employee contributions not includible in gross income may be transferred only to certain specified accounts or annuities. The definitions are being updated in response to a recently-issued Internal Revenue Service determination letter for the FRS Investment Plan. The rule also is being revised to include updated statutory citations. To amend Rule 19-11.002, F.A.C., to indicate the latest revisions of the enrollment and second election forms, and to make some minor technical revisions. To amend Rule 19-11.003, F.A.C., to provide that a distributee may elect to have any portion of an eligible rollover distribution directly paid to an eligible retirement plan. The rule as is being amended to update the dates set forth in the examples regarding invalid distributions and to indicate that documentation of a distribution made prior to August 30, 2007 will be produced for a special service charge where retrieval is possible. To amend Rule 19-11.005, F.A.C. to make a minor technical revision. To amend Rules 19-11.006, F.A.C., to provide that eligible State and Local Senior Managers that are eligible to enroll in the Senior Manager Service Annuity Program may enroll in the FRS Investment Plan by submitting an enrollment form; and to adopt the latest versions of the enrollment forms. To amend Rule 19-11.007, F.A.C., to adopt the latest versions of the second election enrollment forms. To amend Rule 19-11.011, F.A.C., to make some technical revisions for clarification. To amend Rule 19-11.012, F.A.C., to adopt the latest versions of the rollover forms; and to make some minor technical revisions.
• 14751874.To amend Rule 19-11.001, F.A.C., to add a definition of “Retirement Date Fund,” and make a technical correction. To amend Rule 19-11.004, F.A.C., to indicate that members having a Self-Directed Brokerage Account (“SDBA”) are not subject to the excessive trading policy discussed in the rule with respect to that account, but rather are subject to the applicable rules and restrictions of the funds contained within the SDBA. To amend Rule 19-11.006, F.A.C., to adopt the latest versions of the enrollment forms, and to indicate that the default investment fund is an age appropriate retirement date fund. To amend Rule 19-11.007, F.A.C., to adopt the updated Second Election forms. To amend Rule 19-11.008, F.A.C., to indicate that un-vested account benefits placed in a suspense account will be invested in the Pyramis Intermediate Duration Pool Fund. To amend Rule 19-11.012, F.A.C., to adopt the latest versions of the rollover forms.