Louisiana Administrative Code › Title 58 - RETIREMENT › Part XXI - District Attorneys' Retirement System › Chapter 7 - Required Minimum Distributions › Section XXI-701 - Required Beginning Date

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Definition
Required Beginning Date of a Participant who is a 5
				  Percent Owner of an Adopting Employer
3/4the first day of April of the
				  calendar year following the calendar year in which the participant attains age
				  70 1/2. The required beginning date for benefit distributions to a participant
				  other than a 5 percent owner shall be the first day of April of the calendar
				  year following the calendar year in which the later of the following occurs:
				  the participant attains age 70 1/2, or the participant retires. Once
				  distributions have begun to a 5 percent owner under this Section, they must
				  continue to be distributed, even if the participant ceases to be a 5 percent
				  owner in a subsequent year.
B. Annuity Distributions
1. Benefits due to a member who is eligible
				for retirement under
				R.S.
				11:1632, 1633, or 1634 shall commence on or
				before the required beginning date.
2. Death before Date Dis tributions Begin. If
				the member dies before distribution of his or her interest begins, distribution
				of the member's interest in the applicable account(s) will be distributed or
				begin to be distributed, no later than as follows.
a. Member Survived by Designated Beneficiary.
				If the member dies before the date distributions begin and there is a
				designated beneficiary, the minimum amount that will be distributed for each
				distribution calendar year after the year of the members death is the quotient
				obtained by dividing the members account balance by the remaining life
				expectancy of the members designated beneficiary.
b. No Designated Beneficiary. If the member
				dies before the date distributions begin and there is no designated beneficiary
				as of September 30 of the year following the year of the members death,
				distribution of the members interest in the applicable account(s) will be
				completed by December 31 of the calendar year containing the fifth anniversary
				of the members death.
c. Death of
				Surviving Spouse Before Distributions to Surviving Spouse Are Required to
				Begin. If the member dies before the date distributions begin, the members
				surviving spouse is the members sole designated beneficiary, and the surviving
				spouse dies before distributions are required to begin to the surviving spouse
				under Paragraph C.6 of this Section, this Section will apply as if the
				surviving spouse were the member.
d. For purposes of this Section, any amount
				paid to a child of the member will be treated as if it had been paid to the
				surviving spouse if the amount becomes payable to the surviving spouse when the
				child reaches the age of majority.
e. For the purposes of this Section,
				distribution of a member's interest in the applicable account(s) is considered
				to begin on the member's required beginning date (or, if Subparagraph c of this
				Paragraph is applicable, the date distribution is required to begin to the
				surviving spouse pursuant to Subparagraph a of this Paragraph).