19588003, 19-13.001 - Florida Administrative Rules, Law, Code, Register

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Notice: 19588003

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ROLES AND RESPONSIBILITIES FOR THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-13.001	Roles and Responsibilities of the State Board of Administration of Florida
19-13.002	Roles and Responsibilities of Division of Retirement within the Department of Management Services

PURPOSE:

The rule amendments to Rule 19-13.001 serve to indicate that there no longer are just ten (10) target date funds that are available investment options to investment plan members. The total number of funds may continue to vary over time. Rule 19-13.002 is being amended to recognize that Chapter 2017-88, Laws of Florida, amended Section 121.591(4), Florida Statutes, to provide for special in line-of-duty death benefits for the spouse and child(ren) of any investment plan member, and not just special risk class members. Thus, the Division of Retirement will now administer in-line-of-duty death benefits for all members.

SUMMARY:

To update and clarify information for the benefit of the public regarding target date funds and the entity in charge of administering in-line-of-duty death benefits for Investment Plan members. There are no other rules incorporating the proposed amended rules.  The amendments will not have an effect on any other rules.

RULEMAKING AUTHORITY:

121.4501(8) FS.

LAW:

121.4501(4), (8) (9), (10), (14), (15), (19) FS.

PRINT PUBLISH DATE:

10/27/2017 Vol. 43/209

COMMENTS:

From 10/27/2017 To 11/17/2017 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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