12148200, 19-11.001 - Florida Administrative Rules, Law, Code, Register

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Notice: 12148200

Notice of Meeting/Workshop Hearing

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

PROCEDURES FOR THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-11.001	Definitions
19-11.002	Beneficiary Designations and Distributions for FRS Investment Plan
19-11.003	Distributions from FRS Investment Plan Accounts
19-11.005	Florida Retirement System (FRS) State Board of Administration Complaint Procedures
19-11.006	Enrollment Procedures for New Hires
19-11.007	Second Election Enrollment Procedures for the Florida Retirement System Retirement Programs
19-11.011	Employer and Employee Contributions and ABO or Present Value Transfer Procedures
19-11.012	Rollovers or Plan to Plan Transfers to or from the FRS Investment Plan

The State Board of Administration announces a public meeting to which all persons are invited.

DATE AND TIME:

PLACE:

Subject:

The Trustees of the State Board of Administration of Florida will consider proposed amendments to the following rules, and will be asked for permission to file a Notice of Proposed Rulemaking for these rules, and to file these rules for adoption if no member of the public timely requests a rule hearing: Rule 19-11.001, F.A.C., Definitions; Rule 19-11.002, F.A.C., Beneficiary Designation for FRS Investment Plan; Rule 19-11.003, F.A.C., Distributions from FRS Investment Plan Accounts; Rule 19-11.005, F.A.C., FRS Investment Plan Complaint Procedures; Rule 19-11.006, F.A.C., Enrollment Procedures for New Hires; Rule 19-11.007, F.A.C., Second Election Enrollment Procedures for the FRS Retirement Programs; Rule 19-11.011, F.A.C., Employer and Employee Contributions and ABO or Present Value Transfer Procedures; and Rule 19-11.012, F.A.C., Acceptance of Rollovers by the FRS Investment Plan. Rules 19-11.001 and 19-11.003 are being amended to update and clarify certain information pertaining to rollovers.  These amendments were necessitated by the fact that a favorable determination letter issued on September 14, 2012 by the Internal Revenue Service, and stating that the FRS Investment Plan still meets the qualification requirements of Internal Revenue Code Section 401(a), is subject to the adoption of these amendments.  Other amendments are being made to set forth minor technical revisions to improve the rule text and to adopt updated forms for enrollments, second elections and rollovers.

A copy of the agenda may be obtained by contacting: Diane Bruce, State Board of Administration, 1801 Hermitage Blvd., Suite 100, Tallahassee, Florida 32308, (850)413-1253.

PRINT PUBLISH DATE:

10/12/2012 Vol. 38/49

REFERENCE MATERIALS:

No reference(s).

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