LAC 58:XXI.503. Definitions

A. Definitions. For purposes of this Title, the following definitions apply. Annual Benefita benefit that is payable annually in the form of a straight life annuity. Defined Benefit Dollar Limitationeffective for limitation years ending after December 31, 2001, $160,000, automatically adjusted under IRC §415(d), effective January 1 of each year, as published in the Internal Revenue Bulletin, and payable in the form of a straight life annuity: a. the new limitation shall apply to limitation years ending with or within the calendar year of the date of the adjustment, but a participant’s benefits shall not reflect the adjusted limit prior to January 1 of that calendar year; b. the automatic annual adjustment of the defined benefit dollar limitation under IRC §415(d) shall apply to participants who have had a separation from employment. Required Beginning Date of a MemberApril 1 of the calendar year following the year in which the plan member terminated employment with the employers that contribute to the system. Any required beginning date occurring in 2009 shall be extended for one year.