La. Admin. Code tit. 32 § VII-321
Current through Register Vol. 50, No. 11, November 20, 2024
Section VII-321 - Correction of Excess DeferralsA. If the total amount deferred on behalf of a participant for any calendar year exceeds the limitations described above, or the total amount deferred on behalf of a participant for any calendar year exceeds the limitations described above when combined with other amounts deferred by the participant under another eligible deferred compensation plan under Code §457(b) for which the participant provides information that is accepted by the administrator, then the total amount deferred, to the extent in excess of the applicable limitation (adjusted for any income or loss in value, if any, allocable thereto), shall be distributed to the participant.La. Admin. Code tit. 32, § VII-321
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 32:121 (January 2006).AUTHORITY NOTE: Promulgated in accordance with R.S. 42:1301-1308 and IRC §457.