La. Admin. Code tit. 32 § VII-319
Current through Register Vol. 50, No. 8, August 20, 2024
Section VII-319 - Qualified Military ServiceA. Notwithstanding any provision of this plan to the contrary, contributions and benefits with respect to qualified military service shall be provided in accordance with IRC §414(u)B. Protection of Persons Who Serve in a Uniformed Service. An employee whose employment is interrupted by qualified military service under Code §414(u) may elect to make additional annual deferrals upon resumption of employment with the employer equal to the maximum annual deferrals that the employee could have elected during that period if the employee's employment with the employer had continued (at the same level of compensation) without the interruption or leave, reduced by the annual deferrals, if any, actually made for the employee during the period of the interruption or leave. This right applies for five years following the resumption of employment (or, if sooner, for a period equal to three times the period of the interruption or leave).La. Admin. Code tit. 32, § VII-319
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1966 (October 1998), amended LR 32:121 (January 2006).AUTHORITY NOTE: Promulgated in accordance with R.S. 42:1301-1308 and IRC §457.