1. A. The commission shall maintain or cause to be maintained one or more individual deferred compensation ledger account or similar individual account(s) for each participant. Such accounts shall include separate accounts, as necessary, for IRC §457 Deferred Compensation, IRC §457 rollovers, IRA rollovers, other qualified plan and IRC §403(b) plan rollovers, and such other accounts as may be appropriate from time to time for plan administration. At regular intervals established by the commission, each participant's account shall be:

   1. 1. credited with the amount of any deferred compensation paid into the plan;
   2. 2. debited with any applicable administrative or investment expense, allocated on a reasonable and consistent basis;
   3. 3. credited or debited with investment gain or loss, as appropriate; and
   4. 4. debited with the amount of any distribution.
2. B. At least once per calendar quarter, each participant shall be notified in writing of his/her total amount deferred.
3. C. Beginning on January 1, 2011, the commission may maintain or cause to be maintained (for individual participants) designated Roth accounts.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with IRC §457 and R.S. 42:1301-1308.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 24:1967 (October 1998), amended LR 28:1497 (June 2002), LR 40:2281 (November 2014).