Louisiana Administrative Code › Title 58 - RETIREMENT › Part XXI - District Attorneys' Retirement System › Chapter 1 - General Provisions › Section XXI-105 - Accumulated Contributions, Rollovers

Current through Register Vol. 50, No. 6, June 20, 2024
A. Definitions. As provided in
				R.S.
				11:1635(E), the following
				definitions are provided or revised.
2009 RMDs of a Participant or
				  Beneficiary
3/4amounts that the participant or beneficiary would have
				  been required to receive as a required minimum distribution under IRC
				  §401(a)(9) for the 2009 distribution calendar year.
Eligible Retirement Plan
3/4shall include, in
				  addition to the plans and accounts described in
				  R.S.
				  11:1635(D)(3), the
				  following.
a. Effective for
				distributions on or after January 1, 2007, eligible retirement plan shall
				include the individual retirement account or annuity in the name of the
				deceased participant for the benefit of a nonspouse beneficiary, who receives
				an eligible rollover distribution from the plan on account of the death of a
				participant, provided that the individual retirement account or annuity is
				treated as an inherited IRA and that the minimum distribution rules applicable
				in the event the IRA owner dies before the entire interest is distributed shall
				apply to the transferee IRA and the transferee IRA does not provide the
				beneficiary with the special rules for surviving spouse beneficiaries.
b. If any portion of an eligible
				rollover distribution is attributable to payments or distributions from a
				designated Roth account, an eligible retirement plan with respect to such
				portion shall include only another designated Roth account of the individual
				from whose account the payments of distributions were made, or a Roth IRA of
				such individual. Effective January 1, 2007, a Roth IRA is an eligible
				retirement plan with respect to distributions from this plan that do not
				consist of designated Roth accounts, so long as the restrictions that apply to
				a transfer from a traditional IRA (non-Roth) to a Roth IRA are satisfied.
Eligible Rollover Distribution
3/4shall
				  include, in addition to the events set forth in
				  R.S.
				  11:1635(D)(4), the
				  following.
a. Effective January 1,
				2003, a portion of a distribution shall not fail to be an eligible rollover
				distribution merely because the portion consists of after-tax employee
				contributions that are not includible in gross income. However, such portion
				may be transferred only to an individual retirement account or annuity
				described in §408(a) or (b) of the
Internal Revenue Code
, or a
				Roth individual retirement account or annuity described in §408A of the
Internal Revenue Code
(a "Roth IRA") or to a qualified defined
				contribution plan described in §§401(a) or 403(a) of the
Internal
				Revenue Code
that agrees to separately account for amounts so
				transferred, including separately accounting for the portion of such
				distribution that is includible in gross income and the portion of such
				distribution that is not so includible.
b. Effective January 1, 2007, eligible
				rollover distributions shall include a distribution to a nonspouse beneficiary
				on account of the participants death, so long as any rollover distribution is
				transferred to an individual retirement account or annuity that is treated as
				an inherited account of the deceased participant, or Roth IRA established on
				behalf of the nonspouse designated beneficiary for the purpose of receiving the
				distribution. Effective January 1, 2007, early rollover distribution shall
				include after-tax contributions held in a plan qualified under §401(a) of the
Internal Revenue Code
. Effective January 1, 2007,
				distributions from the plan that do not consist of designated Roth accounts
				shall be eligible rollover distributions with respect to a Roth IRA and may be
				rolled over to a Roth IRA, subject to the restrictions that apply to a transfer
				from a traditional (non-Roth) IRA to a Roth IRA.
c. During 2009, 2009 RMDs shall be treated as
				eligible rollover distributions for purposes of making available the direct
				rollover of eligible rollover distributions that include such amount, but not
				for purposes of withholding federal income taxes on the amount when it is
				distributed.