ATTENTION PLAN MEMBERS AND RETIREES
On April 24th 2012, Florida Governor Rick Scott signed House Bill 401 into law,
which amends the Florida Probate Court (Chapter 732 Florida Statutes), and may impact how your pension benefits are administered
and who receives them.
EFFECT OF THE BILL:
House Bill 401 provides that when an individual dies after
dissolution or annulment of a marriage, a beneficiary designation which designates the spouse as a beneficiary, becomes voids
and the spouse is deemed to have predeceased the decedent. In other words the divorce or annulment will result in a previous
designation of the former spouse as a beneficiary being treated as if it never happened.
HB 401 took effect on
July 1, 2012 and now applies to all deaths occurring on or after July 1, 2012, regardless of when the beneficiary designation
was made by the member.
If you have been divorced or have had an annulment we recommend you contact your Plan
Administrator to find out whether or not further steps need to be take in order to ensure that your current designated beneficiary
is the one that you intended.
If you have any questions please do not hesitate to contact your Plan Administrator.