10540134, 60S-11.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10540134

Notice of Proposed Rule

Department:

DEPARTMENT OF MANAGEMENT SERVICES

Division:

Division of Retirement

Chapter:

DEFERRED RETIREMENT OPTION PROGRAM

Overview

RULE:

60S-11.001	Definitions
60S-11.002	Participation
60S-11.004	Benefits

PURPOSE:

The purpose and effect is to amend this rule chapter to correspond with statutory changes up through the 2010 Legislative session, delete obsolete language and make any needed technical changes.

SUMMARY:

The amendments to this rule: explain the deferral of Deferred Retirement Option Program (DROP) initial eligibility date for an elected officer; expand the definition of “DROP Participation” period to include those certain K-12 instructional personnel with certain employers who may extend their DROP participation for up to 36 months beyond the 60 month DROP participation period in accordance with statute; delete the definition of “Instructional Personnel” as it is no longer applicable; clarify that a renewed member and an Investment Plan participant may not participate in DROP in accordance with statute; reflect the statutory changes to termination requirements, reemployment limitations and renewed membership resulting from Chapter 2009-209, Laws of Florida and incorporate by reference five revised Division forms and eight Division forms previously adopted under Rule 60S-9.001, F.A.C.

RULEMAKING AUTHORITY:

121.031, 121.091(13) FS.

LAW:

121.021, 121.091, 121.131, 1012.01 FS.

PRINT PUBLISH DATE:

10/21/2011 Vol. 37/42

COMMENTS:

From 10/21/2011 To 11/11/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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