Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Administration Compliance topic
No spam. Unsubscribe anytime.
Presenter reviews powers of attorney, minor beneficiaries, contract language and compliance requirements
Summary
Bonnie Jensen reviewed tightened powers‑of‑attorney rules since 2011, explained that benefits over $15,000 to minors require court guardianship and trust accounts, and advised adding mandatory public‑records and compliance language (Florida Statutes chapter 119) into vendor contracts; she also noted E‑Verify and human‑trafficking related obligations for certain staff with PII access.
Bonnie Jensen reviewed several administrative rules trustees should enforce to protect participants and the plan. She said Florida tightened powers‑of‑attorney rules in 2011 and administrators now require more specific consents if a POA will change a designated beneficiary or joint annuitant. Jensen described staff practice of asking the agent to provide an affidavit confirming the principal is alive and that the POA remains in effect before acting on benefits.
On minor beneficiaries, Jensen said state law requires a court‑appointed guardian to receive benefits when the total payable to a child exceeds $15,000; the plan must set up trust accounts and the court supervises distributions rather than leaving large‑sum decisions solely to a parent.
Jensen also discussed mandatory contract language that must be added to vendors’ contracts to ensure vendors help respond to public records requests and return plan documents at contract termination, referencing Florida Statutes chapter 119. She advised including language that vendors will produce records at no cost to the plan if required.
Finally, Jensen noted employment compliance matters: E‑Verify applies to employers in Florida with more than 25 employees and there is a new human‑trafficking related attestation for staff who access personal identifiable information. She recommended trustees ensure vendor and administrator contracts reflect these obligations.
Trustees thanked Jensen; there were no votes or formal directives at the conclusion of the presentation.
