25482790, 19-13.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 25482790

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ROLES AND RESPONSIBILITIES FOR THE PUBLIC MPLOYEE OPTIONAL RETIREMENT PROGRAM

Overview

RULE:

19-13.002	Roles and Responsibilities of Division of Retirement within the Department of Management Services
19-13.004	Role and Responsibilities of Third Party Vendors

PURPOSE:

To indicate that the Division of Retirement will handle the collection and processing of employee retirement contributions and data, instead of payroll contributions and data; to indicate third party vendors will rebalance retirement date funds and multi-manager funds; to indicate that third party vendors also will provide a read-only website so that Investment Plan members can access check advices and print copies of their IRS Forms 1099-R; and to state that third party vendors will provide data breach response

SUMMARY:

To make editorial revisions for clarification; to update the services provided by the Division of Management Services and Third Party Vendors. There are no other rules incorporating this amended rule. The proposed amendment does not have an impact on any other rules. Legislative ratification of the rule amendment is not required.

RULEMAKING AUTHORITY:

121.4501(8), 215.52 FS.

LAW:

112.3173, 121.091(5), 121.4501(4), (8), (9), (10) FS.

PRINT PUBLISH DATE:

1/21/2022 Vol. 48/14

COMMENTS:

From 1/21/2022 To 2/11/2022 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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