La. Admin. Code tit. 58 § III-517

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-517 - Affidavit of Plan Election

A. If a member fails to return a completely executed and notarized affidavit of plan election to choose a retirement benefit option by 120 calendar days after the member's receipt of the unsigned affidavit or by 120 calendar days after the beginning of the member's DROP participation, whichever is later, then the member will have be deemed to not have elected to participate in DROP. Employee and employer contributions and appropriate interest or actuarial cost must then be remitted to TRSL for the prior period of TRSL employment in order to receive service credit for that period.

B. For purposes of §517 A, the signed affidavit must be postmarked no later than 90 calendar days after receipt by member of the unsigned affidavit or by 90 days after the beginning of his/her DROP participation, whichever is later.

La. Admin. Code tit. 58, § III-517

Promulgated by the Department of the Treasury, Board of Trustees of the Teachers' Retirement System of Louisiana, LR 18:622 (June 1992), amended LR 20:1020 (September 1994), repromulgated LR 24:502 (March 1998), Amended by LR 461226 (9/1/2020).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:826.