12383037, 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: 12383037

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:

Amending the rules of the Division of Retirement to correspond with statutory changes up through the 2012 Legislative session; deleting obsolete language, correcting a form reference, deleting one obsolete form, incorporating by reference four revised division forms and clarifying direct rollover provisions.

SUMMARY:

The amendments set forth updates the definition of DROP Eligibility to coincide with statutory changes resulting from chapter 2011-68 and chapter 2012-222, Laws of Florida and corrects a F.A.C., reference within this definition; updates the DROP Participation and DROP benefits provisions of rule to coincide with the statutory changes resulting from chapter 2011-68 and chapter 2012-222, Laws of Florida; updates the division’s website address; incorporates by reference four revised division forms and deletes one obsolete form along with corresponding paragraph of rule where the obsolete form was adopted and renumbers remaining paragraphs accordingly; and expands upon the DROP distribution direct rollover provisions of rule to enhance clarity with respect to after-tax employee contributions.

RULEMAKING AUTHORITY:

121.031, 121.091(13), 121.091(13)(k) FS

LAW:

121.021, 121.091, 121.091(13), 121.131, 1012.01 FS.

PRINT PUBLISH DATE:

12/12/2012 Vol. 38/89

COMMENTS:

From 12/12/2012 To 1/2/2013 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Ref-01974 DP-PAYT (Rev. 10/12)
Ref-01975 DP-TEOC-2 (Rev. 06/12)
Ref-01976 DP-TEOC-3 (Rev. 06/12)
Ref-01977 DP-TERM (Rev. 02/12)

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