Louisiana Revised Statutes 11:1768 – Direct rollover of eligible rollover distributions
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Terms Used In Louisiana Revised Statutes 11:1768
- Direct rollover: shall mean a payment by this system to the eligible retirement plan specified by the distributee. See Louisiana Revised Statutes 11:1732
- Distributee: shall mean a member of this system who receives a distribution of funds from this system. See Louisiana Revised Statutes 11:1732
- Eligible retirement plan: shall mean any of the following which accepts a distributee's eligible rollover distribution:
(i) An individual retirement account described in Section 408(a) of the United States Internal Revenue Code. See Louisiana Revised Statutes 11:1732
- Eligible rollover distribution: shall mean any distribution made on or after December 1, 1994, of all or any portion of the balance to the credit of the distributee. See Louisiana Revised Statutes 11:1732
A distributee may elect, at the time and in the manner prescribed by the board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover, notwithstanding any other provision of this system to the contrary that would otherwise limit a distributee’s election under this Section.
Acts 1999, No. 398, §1.