21280653, 19-11.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 21280653

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

PROCEDURES FOR THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-11.001	Definitions
19-11.004	Excessive Trading in the FRS Investment Plan
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
19-11.009	Reemployment with a Florida Retirement System (FRS) Employer after Retirement
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

PURPOSE:

Florida Retirement System (FRS) eligible employees may submit their initial election and second plan election by electronic means. Rule 19-11.001 is being amended to provide a definition of “electronic signature,” and to state that an electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.004, F.A.C. is being amended to make a few minor editorial revisions. Rule 19-11.005 is being amended to adopt the most recent version of the Request for Intervention and Petition for Hearing forms. Rule 19-11.006 is being amended to adopt the latest versions of the applicable enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.007, F.A.C. is being amended to adopt the latest versions of the Second Election enrollment forms; to update and clarify information concerning incomplete enrollments; and to set forth a statement that a member submitting an enrollment by electronic means is deemed to have agreed that the electronic signature is the functional equivalent of a handwritten signature. Rule 19-11.009, F.A.C. is being amended to indicate that retired law enforcement officers who are reemployed by an FRS-participating employer as school resource officers may receive both a salary and retirement benefits once such individuals have been retired for 6 months. Rule 19-11.0011 is being amended to reflect the fact that Treasury Regulation 1.415-6(b)(6) no longer is effective and has been replaced by Revenue Procedure 2018-52. Rule 19-11.012, F.A.C. is amended to adopt the latest versions of the rollover forms.

SUMMARY:

To adopt updated forms; to set forth some clarifications and updated information; to add certain provisions regarding electronic signatures. There are no other rules incorporating the proposed amended rules. The proposed amendments will not have an effect on any other rules.

RULEMAKING AUTHORITY:

121.78(3)(c); 121.4501(3)(c)4., (8) FS.

LAW:

119.071, 120.569, 120.57, 120.573, 121.021, 121.051, 121.055, 121.035, 121.091, 121.35, 121.4501(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (19), (20), (21), 121.591, 121.5912; 121.71, 121.72, 121.73, 121.74, 121.78, 1012.875(3) FS.

PRINT PUBLISH DATE:

12/20/2018 Vol. 44/246

COMMENTS:

From 12/20/2018 To 1/10/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.