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The State Board of Administration of Florida (SBA) will consider, on a case-by-case whether the election will be voided, subject to the following requirements: - If you elected the FRS Investment Plan or FRS Hybrid Option - You must notify the SBA, ING, Ernst & Young, or the Division of Retirement by telephone, email, or written correspondence that you want to cancel your election no later than the last business day of the month following the election month. For example, if you make your election on March 13 you must notify one of the above entities that you want to cancel your election prior to the last business day of April. - If you actively elected the FRS Pension Plan - You must notify one of the above entities no later than the last business day of the month following the election month. Note that if you default into the FRS Pension Plan (i.e., do not make an active election) you cannot cancel this default election. If your request to void the election is made timely and the SBA agrees the election will be voided, you will be required to sign a release and return it to the SBA prior to the election being officially voided. You will acknowledge in the release that failure to return a signed release by the requested due date will result in the original election's being reinstated. You will have until your choice period deadline date to make a new election. If your choice period has ended, you will have one calendar month to make a new election. Failure to make a new election will result in your defaulting into the Pension Plan. Note: If you had elected the FRS Investment Plan or the FRS Hybrid Option and decided to remain in the FRS Pension Plan, there is no need to make another election because you are already in the FRS Pension Plan, your election to the FRS Investment Plan or the FRS Hybrid Option having been voided.
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