69C-6.003: The Plan; Prescribed Forms
PURPOSE AND EFFECT: The rule adopts revisions to the State of Florida Employees Deferred Compensation Plan as follows: A provision is added to allow loans to participants from their deferred compensation accounts under conditions permitted by federal law. Hardship withdrawal standards are changed as follows: Foreclosure is narrowed as a basis for a hardship withdrawal by requiring that the foreclosure be upon the participant’s primary residence rather than any real property. Eviction from a primary residence is added as a basis for hardship withdrawal to conform to a federal regulation on that point. “Dental or periodontal treatment that is necessary due to a sudden injury” is added as a basis for a hardship withdrawal. “Dental or periodontal treatment which is cosmetic or is necessary due to a chronic or degenerative condition such as periodontitis, decay, bruxism, or malocclusion not due a sudden injury” is added to the list of events for which a hardship withdrawal is not available. The amount that can be obtained through the simplified hardship withdrawal process in the event of a hurricane emergency is raised from $1,500.00 to $2,500.00.
SUBJECT AREA TO BE ADDRESSED: Amendments to the Deferred Compensation Plan.
SPECIFIC AUTHORITY: 112.215(11) FS.
LAW IMPLEMENTED: 18.125(4)(c), 112.215 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: Thursday, November 2, 2006, 9:30 a.m.
PLACE: 139 Larson Building, 200 East Gaines Street, Tallahassee, Florida.
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Kandi Winters, (850)413-3162. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Kandi Winters, Chief of Deferred Compensation, Division of Treasury, Bureau of Deferred Compensation, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0346, (850)413-3162.
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:
69C-6.003 The Plan; Prescribed Forms.
(1) Form DFS-J3-1176 (Eff._______), State of
(2) through (4) No Change.
Specific Authority 112.215(12) FS. Law Implemented 112.215 FS. History–New 1-1-87, Amended 10-7-87, 2-14-88, 2-19-89, 6-21-89, 8-7-95, 9-21-98, 6-11-02, Formerly 4C-6.003, Amended 8-26-04, 2-21-05, 7-9-06,__________.