La. Admin. Code tit. 58 § I-4111
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-4111 - Time to Transfer FundsA. Except in emergency circumstances as determined by the executive director: 1. LASERS shall forward the entire deposit balance of a participant to the third party administrator within 10 working days from the end of the DROP accumulation period. LASERS may supplement or otherwise correct balances forwarded in those instances where there are errors, missing documents or incomplete reports submitted by agencies reporting earnings for the participant;2. for participants in the Initial Benefit Option ("IBO") or for those DROP participants whose accumulation period is less than six months, LASERS shall transfer 80 percent of the DROP/IBO balance within 45 days from the date of initial transfer into the SDP.La. Admin. Code tit. 58, § I-4111
Promulgated by the Department of Treasury, Board of Trustees of the State Employees' Retirement System, LR 30:1307 (June 2004), amended LR 32:1070 (June 2006).AUTHORITY NOTE: Promulgated in accordance with R.S. 11:511 and R.S. 11:515.