La. Admin. Code tit. 32 § VII-715
Current through Register Vol. 50, No. 8, August 20, 2024
Section VII-715 - Default Distribution OptionA. In the absence of an effective election by the participant, beneficiary or other payee, as applicable, as to the commencement and/or form of benefits, distributions shall be made in accordance with the applicable requirements of IRC §401(a)(9) and 457(d), and proposed or final treasury regulations thereunder. In the absence of an effective election by the beneficiary or alternate payee as to the commencement and/or form of benefits, distribution shall be made in a lump sum.La. Admin. Code tit. 32, § VII-715
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1969 (October 1998), amended LR 28:1499 (June 2002), LR 32:123 (January 2006).AUTHORITY NOTE: Promulgated in accordance with R.S. 42:1301-1308 and IRC §457.