La. Admin. Code tit. 58 § III-1523
Current through Register Vol. 50, No. 9, September 20, 2024
Section III-1523 - Plan AssetsA. Except as provided in Subsection B of this Section, plan assets shall be held by the ORP providers in an individual or group annuity contract, or custodial account which meets the requirements of IRC §401(f) in order to be treated as a qualified trust.B. A separate trust is hereby established under state law for the purpose of segregating fees to be used for the payment of reasonable plan expenses. This trust shall be administered by the board of trustees.La. Admin. Code tit. 58, § III-1523
Promulgated by the Department of the Treasury, Board of Trustees of the Teachers' Retirement System of Louisiana, LR 402279 (11/1/2014).AUTHORITY NOTE: Promulgated in accordance with R.S. 11:921-929.