reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 19 - Partial Lump-Sum Option Payment › Section V-1901 - General Rules for Participation

Current through Register Vol. 50, No. 6, June 20, 2024
A. Upon application for retirement, a
				participant may elect to receive the actuarial equivalent of his retirement
				benefit as a reduced monthly benefit, payable for life, plus an initial
				lump-sum benefit. The amount of the initial lump-sum benefit, as determined by
				the member, shall not exceed an amount equal to the member's normal monthly
				retirement benefit times 60.
B. The
				member's monthly retirement will be actuarially reduced based on the lump-sum
				amount withdrawn and the member's age at retirement. The partial lump-sum
				benefit, together with the member's reduced normal retirement benefit, must be
				actuarially equivalent to the member's normal retirement benefit as set forth
				in
				R.S.
				11:3384.
C. The cost of living adjustment (COLA)
				granted by the board of trustees to retirees who elect to receive a reduced
				retirement benefit and a partial lump-sum benefit shall be based only on the
				reduced retirement benefit and shall not be based on the partial lump-sum
				benefit.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:3363, and
				  3385.2.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 19 - Partial Lump-Sum Option Payment › Section V-1903 - Distributions from Partial Lump-Sum Option Payment

Current through Register Vol. 50, No. 6, June 20, 2024
A. Distributions from the partial lump-sum
				option payment (PLOP) elected by the member are eligible for rollover as is the
				case with DROP accounts. Similarly, any amount of the partial lump-sum option
				payment left with the fund shall be subject to the rules applicable to
				distribution of DROP accounts.
1. As detailed
				in those rules applicable to DROP accounts, allowable distributions vary
				depending upon whether the member retires before, during or after the calendar
				year in which the member reaches age 55.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 20 - Tax Qualification Provisions › Section V-2001 - General Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The New Orleans Firefighters Pension and Relief Fund shall be a tax-qualified
				governmental plan as provided in the
Internal Revenue Code
of
				1986, as amended. In accordance with the requirements of the
Internal
				Revenue Code
, the following provisions shall apply to the fund.
1. The assets of the fund shall be held for
				the exclusive benefit of the members of the fund, the retirees thereof, and the
				survivors and beneficiaries of the retirees and members. No part of the funds
				held by the trustees of the fund shall be used or diverted for any reason,
				including any contingency or event or by any other means, to other purposes,
				including but not limited to reversion to any employer.
2. The retirement benefit of a member shall
				be fully vested and nonforfeitable no later than the date on which he becomes
				eligible to retire. Benefits of members shall also become vested and
				nonforfeitable upon the termination of the fund or the complete discontinuance
				of contributions to the system.
3.
				Forfeitures shall not be used to increase the benefits of the remaining members
				of the fund. This shall specifically not preclude any increase in benefits by
				amendment to the benefit formula made possible by a change in contribution
				rate, favorable investment results, or other means.
4. A member's benefit shall begin to be
				distributed not later than the latest date provided for the commencement of
				benefits for governmental plans under section 401(a)(9)(C) of the
Internal Revenue Code
of 1986, as amended. Distributions to a
				surviving spouse, dependent, successor and/or beneficiary of a member shall be
				made at least as soon as distributions are required to be made by qualified
				governmental plans under the
Internal Revenue Code
of 1986, as
				amended. Benefits payable shall be limited in accordance with IRC section 415
				and applicable Treasury Regulations as applied to governmental plans.
5. In computing benefit accruals, there shall
				not be taken into account compensation in excess of the limitations specified
				in section 401(a)(17) of the
Internal Revenue Code
, as
				amended. Such compensation limit was $200,000 for tax years beginning after
				December 31, 2001.
6. The fund, its
				trustees, consultants, and advisors shall not engage in any prohibited
				transactions as that term is defined in section 503 of the
Internal
				Revenue Code
of 1986, as amended.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 20 - Tax Qualification Provisions › Section V-2003 - Actuarial Equivalence

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The New Orleans Firefighters Pension and Relief Fund shall be a tax-qualified
				governmental plan as provided in the
Internal Revenue Code
of
				1986, as amended. In accordance with the requirements of the
Internal
				Revenue Code
, the following provisions shall apply to the fund.
1. The term
actuarial
				equivalence
or terms of similar import, wherever used, means a benefit
				of equivalent actuarial value determined by using the mortality assumptions and
				interest rates described herein.
a. The
				mortality assumptions will be based upon the 1971 Group Annuity Mortality Table
				for males, with male rates set back six years in age for females, at 7 percent
				interest.
b. If payment is in the
				form of a lump sum distribution or other similar form of distribution for a
				period less than the life expectancy, the amount of the distribution shall be
				calculated based on the 1994 UP at 7.5 percent interest.
c. For purposes of determining actuarial
				equivalence, the assumptions used as the basis for actuarial equivalence shall
				be reviewed periodically by the Board of Trustees and updated and amended if
				appropriate.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 20 - Tax Qualification Provisions › Section V-2005 - Military Service

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Notwithstanding any provision of this plan to the contrary, contributions,
				benefits and service credit with respect to qualified military service will be
				provided in accordance with section 414(u) of the
Internal Revenue
				Code
. To the extent applicable, the provisions of IRC section
				401(a)(37) shall apply.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:3363.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 21 - Procedural Rules and Regulations of the Board of Trustees › Section V-2101 - Agency Ineligibility

Current through Register Vol. 50, No. 6, June 20, 2024
A. The fund does
				not meet the criteria pursuant to Act 393 to be eligible to conduct open public
				meetings via electronic means, because it
1.
				is not a state agency as defined by R.S. 49:951; and
2. has powers, duties or functions that are
				limited in scope to a particular political subdivision or region.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part V - Firefighters' Pension and Relief Fund for the City of New Orleans and Vicinity › Chapter 21 - Procedural Rules and Regulations of the Board of Trustees › Section V-2103 - Disability Accommodations

Current through Register Vol. 50, No. 6, June 20, 2024
A. Despite
				ineligibility to conduct open meetings via electronic means, nonetheless the
				fund is obligated to provide for participation via electronic means on an
				individualized basis by people with disabilities.
B. People with disabilities are defined as
				any of the following:
1. a member of the
				public with a disability recognized by the Americans with Disabilities Act
				(ADA);
2. a designated caregiver of
				such a person; or
3. a participant
				member of the fund with an ADA-qualifying disability.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 1 - Administration of Act 416 of 1976 › Section VII-101 - Rules for the Administration of Act 416 of 1976

Current through Register Vol. 50, No. 6, June 20, 2024
A. This system will recognize only that
				retirement service credit in those state, municipal, and parochial retirement
				systems domiciled in the state of Louisiana and which were created under the
				laws of the state of Louisiana or created by the Louisiana Legislature for
				employees covered under these systems.
B. Withdrawal of funds from any system voids
				the reciprocal recognition of service agreement.
C. Withdrawal from any system where the
				recognized service in another system was necessary to make an individual
				eligible for membership voids the membership of such individual, as well as the
				reciprocal recognition of service agreement.
D. Repayment of refunds, and interest
				thereon, to reestablish service credit must be paid in full to all systems
				named in the application before the application for reciprocal recognition of
				service credit will be accepted as a valid application, regardless of when
				submitted.
E. Recognition of
				creditable service for the purposes of this Act does not include recognition or
				acceptance for any other purpose than those enumerated and specified in Act 416
				of 1976 Regular Session.
F.
Lump sum benefit,
as used in this Act, shall refer to the
				supplementary allowance provided in R.S. 17:913C.
G. The last beneficiary designation on file
				in this agency will be the beneficiary of record for this system, whether filed
				before or after the repayment of a refund or a reciprocal recognition of
				service agreement.
H. Recognized
				creditable service from other systems and creditable service in this system
				will be converted to whole years and partial years, with partial years
				expressed as a percentage of a year.
I. The service referred to in Paragraph F(2)
				refers only to those systems where the years of service determines the
				percentage benefit (e.g., after 20 years a person may retire with 60 percent of
				his best three years, or after 25 years a person may retire with 75 percent of
				his best three years, etc.), and therefore, is not applicable to benefits or
				computations of benefits from this system.
J.
Pro rata portion
and
proportion
used in this Act shall be based on the maximum
				benefit in each system.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1165.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 3 - Interest Rates › Section VII-301 - Interest Rates Charged on Purchases of Service Credit

Current through Register Vol. 50, No. 6, June 20, 2024
A. All cost computations on and after July
				20, 1985 for all active members to gain retirement credit will be done on an 8
				percent compound interest rate.
B.
				The only exceptions to the 8 percent compound interest rate will be credit for
				active military service, which has a 5 percent compound interest rate in the
				legislative provision.
C. A review
				of the interest rate being used will be made in January of each year. Should a
				change of rate be agreed on after the review, the new rate will become
				effective July 1 of that same year.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1165.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 4 - Internal Revenue Code Provisions › Section VII-403 - Required Minimum Distributions

Current through Register Vol. 50, No. 6, June 20, 2024
A.
1.
				Unless the member has elected otherwise on or before December 31, 1983, the
				entire benefit of a member shall be distributed over a period not longer than
				the longest of the following periods:
a. the
				member's life;
b. if the member is
				married, the life of the member's designated beneficiary;
c. the member's life expectancy;
d. the joint life and last survivor life
				expectancy of the member and his designated beneficiary.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 4 - Internal Revenue Code Provisions › Section VII-405 - Direct Rollovers

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Notwithstanding any other provision of law to the contrary that would otherwise
				limit a distributee's election under this Section, a distributee may elect, at
				the time and in the manner prescribed by the board of trustees, to have any
				portion of an "eligible rollover distribution", as specified by the
				distributee, paid directly to an "eligible retirement plan", as those terms are
				defined below.
B. The following
				definitions shall apply.
Eligible Rollover Distribution
-
any distribution of all or any portion of the balance to the credit of
				  the distributee, except that an eligible rollover distribution does not
				  include:
a. any distribution that is
				one of a series of substantially equal periodic payments, not less frequently
				than annually, made for the life or life expectancy of the member, or the joint
				lives or joint life expectancies of the member and the member's designated
				beneficiary, or for a specified period of ten years or more;
b. any distribution to the extent that such
				distribution is required under section 401(a)(9) of the United States
Internal Revenue Code
; and
c. any distribution which is made upon
				hardship of the employee.
Eligible Retirement Plan
- any of the
				  following:
a. an individual
				retirement account described in section 408(a) of the
Internal Revenue
				Code
;
b. an individual
				retirement annuity described in section 408(b) of the
Internal Revenue
				Code
;
c. an annuity plan
				described in section 403(a) of the
Internal Revenue
				Code
;
d. a qualified trust
				as described in section 401(a) of the
Internal Revenue Code
,
				provided that such trust accepts the member's eligible rollover
				distribution;
e. an eligible
				deferred compensation plan described in section 457(b) of the
Internal
				Revenue Code
that is maintained by an eligible governmental employer,
				provided the plan contains provisions to account separately for amounts
				transferred into such plan; and
f.
				an annuity contract described in section 403(b) of the
Internal Revenue
				Code
.
Distributee
- shall include:
a. a member or former member;
b. the member's or former member's surviving
				spouse, or the member's or former member's former spouse with whom a benefit or
				a return of employee contributions is to be divided pursuant to
				R.S.
				11:291(B), with reference to
				an interest of the member or former spouse;
c. the member's or former member's non-spouse
				beneficiary, provided the specified distribution is to an eligible retirement
				plan as defined in Subparagraphs a and b of the definition of
eligible
				retirement plan
in this Section.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 4 - Internal Revenue Code Provisions › Section VII-407 - Annual Compensation Limitation

Current through Register Vol. 50, No. 6, June 20, 2024
A. Unless otherwise provided in this Chapter,
				the accrued benefit of each
section 401(a)(17) employee
as
				that term is defined below shall be the greater of the following:
1. The employee's accrued benefit determined
				with respect to the benefit formula applicable for the plan year beginning on
				or after January 1, 1996, as applied to the employee's total years of service
				taken into account for purposes of benefit accruals.
2. The sum of:
a. the employee's accrued benefit as of the
				last day of the last plan year beginning before January 1, 1996, frozen in
				accordance with the provisions of section 1. 401(a)(4)-1 through 1.401(a)(4)-13
				of the Code of Federal Regulations;
b. the employee's accrued benefit determined
				under the benefit formula applicable for the plan year beginning on or after
				January 1, 1996, as applied to the employee's years of service credited to the
				employee for plan years beginning on or after January 1, 1996, for purposes of
				benefit accruals.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part VII - School Employees Retirement System › Chapter 4 - Internal Revenue Code Provisions › Section VII-409 - Participation in Group Trusts

Current through Register Vol. 50, No. 6, June 20, 2024
A. To
				the extent it does not affect the tax qualified status of the retirement
				system, and is permitted by United States Internal Revenue Service Revenue
				Ruling 81-100, 1981-1 CB 326 (as clarified and modified by Revenue Ruling
				2004-67, 2004-2 CB 28, and modified by Revenue Ruling 2011-1, 2011-2 IRB 251,
				or any subsequent guidance), the board of trustees is authorized to:
1. for investment purposes, transfer assets
				of the retirement system to, and pool such assets in, one or more group
				trust(s); and
2. adopt one or more
				group trust(s), and/or the terms of such group trust(s), as part of the
				retirement system to the extent necessary to meet the requirements of
				applicable law, by executing appropriate participation and/or adoption
				agreements with the trustee(s) of the group trust(s).
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 1 - Service Credit › Section IX-101 - Military Service Credit

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The Board of Trustees of the Louisiana State Police Retirement System will
				grant military service credit for active duty service spent in the United
				States Reserves or the National Guard. Such credit will be granted only for
				active duty service prior to September 9, 1977. Any active duty service in the
				U.S. Reserves or National Guard after September 9, 1977 may be purchased in
				accordance with R.S. 40:142(B)2.b and c.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S. 40:142(B)2.b and
				  c.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 2 - Internal Revenue Code Provisions › Section IX-202 - Required Minimum Distributions

Current through Register Vol. 50, No. 6, June 20, 2024
A.
1.
				Unless the member has elected otherwise on or before December 31, 1983, the
				entire benefit of a member shall be distributed over a period not longer than
				the longest of the following periods:
a. the
				member's life;
b. if the member is
				married, the life of the member's designated beneficiary;
c. the member's life expectancy;
d. the joint life and last survivor life
				expectancy of the member and his designated beneficiary.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 2 - Internal Revenue Code Provisions › Section IX-203 - Direct Rollovers

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Notwithstanding any other provision of law to the contrary that would otherwise
				limit a distributee's election under this Section, a distributee may elect, at
				the time and in the manner prescribed by the board of trustees, to have any
				portion of an "eligible rollover distribution," as specified by the
				distributee, paid directly to an "eligible retirement plan," as those terms are
				defined below.
B. The following
				definitions shall apply.
Direct Rollover
- a payment by the system to
				  the eligible retirement plan specified by the distributee.
Distributee
- shall include:
a. a member or former member;
b. the member's or former member's surviving
				spouse, or the member's or former member's former spouse with whom a benefit or
				a return of employee contributions is to be divided pursuant to
				R.S.
				11:291(B), with reference to
				an interest of the member or former spouse;
c. the member's or former member's non-spouse
				beneficiary, provided the specified distribution is to an eligible retirement
				plan as defined in Subparagraphs a and b of the definition of
eligible
				retirement plan
in this Section.
Eligible Retirement Plan
- any of the
				  following:
a. an individual retirement
				account described in section 408(a) of the
Internal Revenue
				Code
;
b. an individual
				retirement annuity described in section 408(b) of the
Internal Revenue
				Code
;
c. an annuity plan
				described in section 403(a) of the
Internal Revenue
				Code
;
d. a qualified trust
				as described in section 401(a) of the
Internal Revenue Code
,
				provided that such trust accepts the member's eligible rollover
				distribution;
e. an eligible
				deferred compensation plan described in section 457(b) of the
Internal
				Revenue Code
that is maintained by an eligible governmental employer,
				provided the plan contains provisions to account separately for amounts
				transferred into such plan; and
f.
				an annuity contract described in section 403(b) of the
Internal Revenue
				Code
.
Eligible Rollover Distribution
-
any distribution of all or any portion of the balance to the credit of
				  the distributee, except that an
eligible rollover distribution
does not include:
a. any distribution
				that is one of a series of substantially equal periodic payments, not less
				frequently than annually, made for the life or life expectancy of the member,
				or the joint lives or joint life expectancies of the member and the member's
				designated beneficiary, or for a specified period of ten years or
				more;
b. any distribution to the
				extent that such distribution is required under section 401(a)(9) of the United
				States
Internal Revenue Code
; and
c. any distribution which is made upon
				hardship of the employee.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 2 - Internal Revenue Code Provisions › Section IX-204 - Annual Compensation Limitation

Current through Register Vol. 50, No. 6, June 20, 2024
A. Unless otherwise provided in this Chapter,
				the accrued benefit of each section 401(a)(17) employee as that term is defined
				below shall be the greater of the following:
1. the employee's accrued benefit determined
				with respect to the benefit formula applicable for the plan year beginning on
				or after January 1, 1996, as applied to the employee's total years of service
				taken into account for purposes of benefit accruals;
2. the sum of:
a. the employee's accrued benefit as of the
				last day of the last plan year beginning before January 1, 1996, frozen in
				accordance with the provisions of section 1. 401(a)(4)-1 through 1.401(a)(4)-13
				of the
Code of Federal Regulations
;
b. the employee's accrued benefit determined
				under the benefit formula applicable for the plan year beginning on or after
				January 1, 1996, as applied to the employee's years of service credited to the
				employee for plan years beginning on or after January 1, 1996, for purposes of
				benefit accruals.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 2 - Internal Revenue Code Provisions › Section IX-205 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. The assets of
				this system's pension plan shall be held for the exclusive benefit of the
				employees who are or become participating members of the system and their
				survivors and beneficiaries, and of retirees and their survivors and
				beneficiaries. No part of the corpus, the system's pension plan assets held in
				trust, or income of the system's pension plan shall be used for or diverted to
				purposes other than the exclusive benefit of such members and retirees, or
				their survivors or beneficiaries, whether by operation or natural termination
				of the system's pension plan, by power of revocation or amendment, by the
				happening of a contingency, by collateral assignment, or by any other
				means.
B. The retirement benefit
				earned by a member shall be fully vested and nonforfeitable no later than the
				date he becomes eligible to retire. Benefits of affected members shall also
				become vested and nonforfeitable to the extent funded, upon the termination or
				partial termination of the system's pension plan or the complete discontinuance
				of contributions thereto.
C.
				Forfeitures resulting from a termination of employment or a withdrawal of a
				member's own contributions may not be used to increase benefits to remaining
				members. This shall not preclude an increase in benefits by amendment to the
				benefit formula made possible by favorable investment results or for any other
				reason.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1302.1.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 3 - Procedures for Election of Louisiana State Police Retirement System Trustees › Section IX-301 - General Election Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The director shall issue to the Louisiana State Police Retirement System
				membership a notice of each trustee office to be filled in the following
				timeframe:
1. between the first Monday in
				August and the third Monday in August, for a position with term ending December
				31, via mail, with qualifying form attached and placed on the website, such
				form to require applicants name, date started in system, and for which seat the
				applicant is qualifying;
2. between
				the first Monday in February and the third Monday in February, for a position
				with term ending June 30, via mail, with qualifying form attached and placed on
				the website, such form to require applicants name, date started in system, and
				for which seat the applicant is qualifying.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 3 - Procedures for Election of Louisiana State Police Retirement System Trustees › Section IX-303 - Ballots, Count, Tabulation, Posing, Oath of Office

Current through Register Vol. 50, No. 6, June 20, 2024
A. The director shall compile a ballot for
				each office to be filled. Ballots shall be mailed to the membership at their
				home address in the following timeframe:
1.
				beginning the fourth Monday of September through the second Monday of October,
				for a position with term ending December 31;
2. beginning the fourth Monday of March
				through the second Monday of April for a position with term ending June 30:
a. the ballots shall be issued to members who
				are eligible to vote for this particular candidate pursuant to
				R.S.
				11:1302 ("qualified member") as of September
				1 of that year; and
b. the member
				must be a qualified member as of the date the system counts the ballot in order
				for that members ballot to be counted;
c. in addition to the ballot the director
				shall mail an envelope in which to enclose the ballot, on which the qualified
				member must sign his or her name, and a return envelope for the sealed ballot
				to be returned to 9224 Jefferson Hwy, Baton Rouge, LA 70809 and
				instructions;
d. the director shall
				inform each member in this mailing that results of the vote shall be
				promulgated on the systems website in late November or early December (for a
				position with term ending December 31) or late May or early June (for a
				position with term ending June 30);
e. voted ballots shall be accepted through
				the fourth Monday in October at 4:30 p.m. (for a position with term ending
				December 31) or through the fourth Monday in April at 4:30 p.m. (for a position
				with term ending June 30);
f. a
				date and time shall be placed on each ballot envelope received by the director
				across the envelope flap.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part IX - State Police Retirement System › Chapter 3 - Procedures for Election of Louisiana State Police Retirement System Trustees › Section IX-305 - Vacancy

Current through Register Vol. 50, No. 6, June 20, 2024
A. Should a vacancy
				occur, the board shall hold a special election as soon as reasonably possible
				to fill this unexpired seat.
1. If the
				unexpired term of office for this seat is less than two years from the date the
				election results are expected, the election shall be for the unexpired term of
				office and for the next five-year term.
2. If the unexpired term of office for this
				seat is two years or greater from the date the election results are expected,
				then the election shall be for the unexpired term of office only.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 3 - Eligibility › Section XI-301 - Persons Not Eligible for Membership; Leased Employees

Current through Register Vol. 50, No. 6, June 20, 2024
A. Leased employees or persons considered by
				the system as leased employees of an employer shall not be eligible to
				participate. Leased employee shall mean any person who is not employed by an
				employer and pursuant to an agreement between the employer and any other person
				or entity ("leasing organization") has performed services for the employer (or
				for related persons determined in accordance with Section 414(n)(6) of the
Internal Revenue Code
) on a substantially full-time basis for
				a period of at least one year, and such services are performed under primary
				direction or control by the employer.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1931.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 3 - Eligibility › Section XI-303 - Creditable Service; Uniformed Services Employment and Reemployment Rights Act

Current through Register Vol. 50, No. 6, June 20, 2024
A. If
				a member takes a leave of absence to serve in the U.S. armed services, the
				terms of which are governed by the Uniformed Services Employment and
				Reemployment Rights Act (USERRA), then upon the member's return to employment
				with the employer within five years from the leave of absence, the member shall
				be permitted to make the member contributions called for under the system as if
				the member had continued employment, and if so made, the member shall be given
				creditable service under the system for that period of time. The member
				contributions to the system as permitted under this Section shall be made
				ratably over a period of time equaling the period the member was in the U.S.
				armed services, but in no event shall such period exceed five years. If the
				returning member makes the member contribution, the employer shall be required
				to make an employer contribution to fund the employer's portion of the
				creditable service given to the returning member. The amount of the member's
				contribution and the employer's contribution shall be determined by the
				system's actuary. A member who does not return to employment with his employer
				shall not be affected by this provision.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1931.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 5 - Scope of Benefits › Section XI-501 - Limitation on Payment of Benefits

Current through Register Vol. 50, No. 6, June 20, 2024
A.
1.
				Unless the member has elected otherwise on or before December 31, 1983, the
				entire benefit of a member shall be distributed over a period not longer than
				the longest of the following periods:
a. the
				member's life;
b. the life of the
				member's designated beneficiary or the joint and last survivor lives of the
				member and his designated beneficiary;
c. the member's life expectancy;
d. the joint life and last survivor life
				expectancy of the member and his designated beneficiary.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 5 - Scope of Benefits › Section XI-503 - Early Payment of Benefits

Current through Register Vol. 50, No. 6, June 20, 2024
A. In
				the event of plan termination, the benefit of any highly compensated employee
				including an active highly compensated employee and a former employee who was a
				highly compensated employee, is limited to a benefit that is nondiscriminatory
				under
Internal Revenue Code
, Section 401(a)(4) (see
				26 U.S.C.
				401 et seq.)
B.
1. For
				plan years beginning on or after January 1, 1991, benefits distributed to any
				of the 25 most highly compensated active and former highly compensated
				employees are restricted such that the annual payments are no greater than an
				amount equal to the payment that would be made on behalf of the employee under
				a single life annuity that is the actuarial equivalent of the sum of the
				employee's accrued benefit and the employee's other benefits under the
				plan.
2. Subsection A of this
				Section shall not apply if:
a. after the
				payment of the benefit to an employee described in Paragraph 1 of this
				Subsection, the value of plan assets equals or exceeds 110 percent of the value
				of current liabilities as defined in
Internal Revenue Code
Section 412(1)(7); or
b. the value
				of the benefits for an employee described above is less than 1 percent of the
				value of current liabilities.
3. For purposes of this Section, benefit
				includes loans in excess of the amount set forth in
Internal Revenue
				Code
Section 72(p)(2)(A), any periodic income, any withdrawal values
				payable to a living employee, and any death benefits not provided for by
				insurance on the employee's life.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 5 - Scope of Benefits › Section XI-505 - Compensation Limited

Current through Register Vol. 50, No. 6, June 20, 2024
A. In
				addition to other applicable limitations set forth in the plan, and
				notwithstanding any other provisions of the plan to the contrary, for plan
				years beginning on or after January 1, 1994 and before January 1, 2002, the
				annual compensation of each employee taken into account under the plan shall
				not exceed the Omnibus Budget Reconciliation Act of 1993 annual compensation
				limit. The Omnibus Budget Reconciliation Act of 1993 annual compensation limit
				is $150,000, as adjusted by the commissioner of Internal Revenue for increases
				in the cost of living in accordance with Section 401(a)(17)(B) of the
Internal Revenue Code
(see
				26 U.S.C.
				401 et seq.). The cost-of-living adjustment
				in effect for a calendar year applies to any period, not exceeding 12 months,
				over which compensation is determined (determination period) beginning in such
				calendar year. If a determination period consists of fewer than 12 months, the
				Omnibus Budget Reconciliation Act of 1993 annual compensation limit will be
				multiplied by a fraction, the numerator of which is the number of months in the
				determination period, and the denominator of which is 12.
B. For plan years beginning on or after
				January 1, 1994 and before January 1, 2002, any reference in this plan to the
				limitations under
Internal Revenue Code
Section 401(a)(17)
				shall mean the Omnibus Budget Reconciliation Act of 1993 annual compensation
				limit set forth in this Section.
C.
				If compensation for a prior determination period is taken into account in
				determining an employee's benefits accruing in the current plan year, the
				compensation for that prior determination period is subject to the Omnibus
				Budget Reconciliation Act of 1993 annual compensation limit in effect for that
				prior determination period. For this purpose, for determination periods
				beginning before the first day of the first plan year beginning on or after
				January 1, 1994, the Omnibus Budget Reconciliation Act of 1993 annual
				compensation limit is $150,000.
D.
				For plan years beginning on or after January 1, 2002, the annual compensation
				limitation (Section 401(a)(17) of the
Internal Revenue Code
)
				for the determination of a retirement allowance shall not exceed $200,000, as
				adjusted for cost-of-living under Paragraph 401(a)(17)(B) of the
Internal Revenue Code
. If compensation for a prior period is
				taken into account in determining a member's benefits accruing in the current
				plan year, the compensation for the prior period shall be subject to the
				compensation limit for the current year.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:1931.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 5 - Scope of Benefits › Section XI-507 - Transfer of Benefits

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				This Section applies to distributions made on or after January 1, 1993.
				Notwithstanding any provisions of the plan to the contrary that would otherwise
				limit a distributee 's election under this Section, a distributee may elect, at
				the time and in the manner prescribed by the plan administrator, to have any
				portion of an eligible rollover distribution paid directly to a retirement plan
				specified by the distributee in a direct rollover.
B. If a distribution is one to which Sections
				401(a)(11) of the
Internal Revenue Code
(see
				26 U.S.C.
				401 et seq.) do not apply, such distribution
				may commence less than 30 days after the notice required under Section 1.
				411(a)-11(c) of the federal income tax regulations is given, provided that:
1. the plan administrator clearly informs the
				participant that the participant has a right to a period of at least 30 days
				after receiving the notice to consider the decision of whether or not to elect
				a distribution (and, if applicable, a particular distribution option);
				and
2. the participant, after
				receiving the notice, affirmatively elects a distribution.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 5 - Scope of Benefits › Section XI-509 - Computation of Retirement Benefits

Current through Register Vol. 50, No. 6, June 20, 2024
A. This Section is intended to comply with
Internal Revenue Code
Section 415. It shall cover only those
				who become members for the first time on or after January 1, 1990, and those
				qualified participants for whom the benefit is increased after October 14,
				1987, to the extent of the benefit increase after October 14, 1987, including
				cost-of-living adjustments on any such increase.
B. The normal retirement benefit of a member
				of Plan A shall not exceed the amount set forth in
				R.S.
				11:1942, the normal retirement benefit of a
				member of Plan B shall not exceed the amount set forth in
				R.S.
				11:1962, and the normal retirement benefit of
				a member of Plan C shall not exceed the amount set forth in
				R.S.
				11:1972.
C.
1.
				Qualified Participant shall mean a member of the system who first became a
				member before January 1, 1990. In the case of the merger of, or transfer of
				assets and benefits of a member or members from, another plan maintained by an
				employer which joins this system, the accrued benefit under such predecessor
				plan shall be the accrued benefit referred to above, and the member shall be
				considered a qualified participant if his participation in such predecessor or
				merged plan commenced on or before January 1, 1990.
2. All employers contributing to the system
				on behalf of their employees, and all employers who may join the system, as a
				condition of such joining, shall elect, and such election is hereby
				implemented, to have the limitations of
Internal Revenue
				Code
Section 415(b) other than Paragraph 2G thereof applied without
				regard to Paragraph 2F thereof, which limitations are set forth in Subsection
				D. Such limitations shall apply to all members who are not qualified
				participants as described herein and to qualified participants to the extent of
				the benefit increase after October 14, 1987, including cost-of-living
				adjustments on any such increase.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XI - Parochial Employees' Retirement System › Chapter 7 - Terminations › Section XI-701 - Procedures for Determination of the Unfunded Accrued Liability

Current through Register Vol. 50, No. 6, June 20, 2024
A. Procedures for
				Determination of the Unfunded Accrued Liability under
				R.S.
				11:1903(F) of Parochial
				Employees Retirement System of Louisiana
1.
				The unfunded accrued liability calculated pursuant to
				R.S.
				11:1903(F) shall be
				determined in a manner consistent with statement 68 of the Governmental
				Accounting Standards Board.
2. That
				is the following: the portion of the unfunded accrued liability attributable to
				the employers termination shall be a pro rata portion of the allocated share of
				the net pension liability (as per statement 68) for the prospective termination
				of the December 31 immediately preceding the date of termination. The pro rata
				share shall be determined as one minus the ratio of the present value of future
				salaries for the current active members of the terminating entity to the
				present value of future salaries of the active group assuming replacement of
				terminated employees based on a general increase in payroll as a function of
				the inflation assumption implicit in the valuation assumptions.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XIII - Firefighters' Retirement System › Chapter 1 - General Provisions › Section XIII-101 - Survivor Benefits ; Procedures to Use When Determining Whether Member's Death Occurred in the Line of Duty

Current through Register Vol. 50, No. 6, June 20, 2024
A. Pursuant to the provisions of
				R.S.
				11:2256(B)(1)(a)(i), the
				surviving spouse of any active contributing member of the system who is killed
				in the line of duty, is authorized to be paid, on a monthly basis, an annual
				benefit equal to two-thirds of the deceased member's average final
				compensation.
B. Pursuant to the
				provisions of
				R.S.
				11:2256(B)(1)(a)(ii), the
				board of trustees must promulgate rules to provide a procedure for determining
				whether a member was killed in the line of duty. Thereafter, the board must use
				its discretion in applying the procedure. The application of the procedure must
				be in compliance with the fiduciary duty of such trustees as such duty is set
				forth in Title 11 of the Revised Statutes of 1950, as amended.
C. The procedure used for determining whether
				or not a member's death occurred in the line of duty shall be as follows: The
				board of trustees shall direct its staff to conduct a study of the facts and
				circumstances leading up to and being the cause of the member's death. The
				staff shall conduct that study and report its findings either verbally or in a
				written report, or both, to the board of trustees in an open public meeting
				wherein the subject matter of the surviving spouse's benefits are placed before
				the board for discussion and action. Such report shall be furnished to the
				board within 30 days of the conclusion of the study, unless the application for
				benefits and case file is not otherwise complete and ready for board
				consideration. Any motion that is made to approve survivor benefits of a member
				killed in the line of duty shall contain a summary recitation of the facts and
				circumstances leading up to and being the cause of the member's death. The
				board of trustees shall apply these procedures in a manner consistent with its
				fiduciary duty. The foregoing procedure shall be used in all similar cases and
				shall be known as the "Boler Act Rule".
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  11:2256(B)(1)(a)(ii) and the
				  Administrative Procedures Act,
				  R.S.
				  49:950 et
				  seq.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XV - Sheriffs' Pension and Relief Fund › Chapter 1 - General Provisions › Section XV-101 - Court Order or Judgment

Current through Register Vol. 50, No. 6, June 20, 2024
A. To
				be effective as to the Louisiana Sheriffs' Pension and Relief Fund, any court
				order or judgment issued upon or after the termination of a community property
				regime which order or judgment recognizes the community interest of a spouse or
				a former spouse of a member or retiree of the Louisiana Sheriffs' Pension and
				Relief Fund and provides that a benefit or return of employee contributions be
				divided by the Louisiana Sheriffs' Pension and Relief Fund with the spouse or
				former spouse, shall be:
1. considered to be
				received by the Louisiana Sheriffs' Pension and Relief Fund under
				R.S.
				11:291(B) only if a certified
				copy of the order is served on the Executive Director or Assistant Executive
				Director of the Fund by the Sheriff of East Baton Rouge Parish; and
2. specific to the Louisiana Sheriffs'
				Pension and Relief Fund.
Louisiana Administrative Code › Title 58 - RETIREMENT › Part XV - Sheriffs' Pension and Relief Fund › Chapter 1 - General Provisions › Section XV-103 - Eligible Rollover Distribution

Current through Register Vol. 50, No. 6, June 20, 2024
A. Within a reasonable period of time before
				making an eligible rollover distribution, the executive director or the
				assistant executive director of the fund shall provide a written explanation to
				the recipient of such a distribution explaining the following:
1. the provisions under which the recipient
				may have the distribution directly transferred to an eligible retirement plan
				and that the automatic distribution by direct transfer applies to certain
				distributions in accordance with §401(a)(31)(B) of the
Internal Revenue
				Code
;
2. the provision
				which requires the withholding of tax on the distribution if it is not directly
				transferred to an eligible retirement plan;
3. the provisions under which the
				distribution will not be subject to tax if transferred to an eligible
				retirement plan within 60 days after the date on which the recipient receives
				the distribution;
4. the provisions
				under which distributions from the eligible retirement plan receiving the
				distribution may be subject to restrictions and tax consequences which are
				different from those applicable to distributions from the plan making such
				distribution.