1. A. Payments from the participants § 457 Deferred Compensation Plan account to the participant or beneficiary shall not be made, or made available, earlier than:

   1. 1. the participant's severance from employment pursuant to LAC 32:VII.703.A or death; or
   2. 2. the participant's account meets all of the requirements for an in-service de minimus distribution pursuant to LAC 32:VII.705.A and B; or
   3. 3. the participant incurs an approved unforeseeable emergency pursuant to LAC 32:VII.709.A; or
   4. 4. the participant transfers an amount to a defined benefit governmental plan pursuant to LAC 32:VII.705.C; or
   5. 5. the calendar year in which an in-service participant attains age 59 1/2; or
   6. 6. the participant makes a qualified birth or adoption distribution pursuant to §113 of the Setting Every Community Up for Retirement Act of 2019. Any such qualified birth or adoption distribution shall not exceed $5,000 per birth or adoption. The commission or plan administrator may rely upon a participant’s birth or adoption certificate for purposes of determining eligibility. Any individual who receives a qualified birth or adoption distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions back to the plan in an aggregate amount not to exceed the amount of such distribution.
   7. 7. the participant makes an emergency personal expense distribution in accordance with IRC §72(t)(2)(I). The commission or plan administrator may rely on a written certification by the participant that the distribution meets the requirements of IRC §72(t)(2)(I). Any individual who receives a distribution under the terms of this paragraph may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions back to the plan in an aggregate amount not to exceed the amount of such distribution.
   8. 8. the participant is a domestic abuse victim and takes a distribution in accordance with IRC §72(t)(2)(K). The commission or plan administrator may rely on a written certification by the participant that the distribution meets the requirements of IRC §72(t)(2)(K). Any individual who receives a distribution under the terms of this paragraph may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions back to the plan in an aggregate amount not to exceed the amount of such distribution.
   9. 9. the participant makes a qualified disaster recovery distribution in accordance with IRC §72(t)(2)(M). Any individual who receives a qualified disaster recovery distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions back to the plan in an aggregate amount not to exceed the amount of such distribution.
2. B. Payments from a Participant's Rollover Account(s). If a participant has a separate account attributable to rollover contributions to the plan, the participant may at any time elect to receive a distribution of all or any portion of the amount held in the rollover account(s).
3. C. In order to implement the provisions of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, enacted on December 20, 2019, and SECURE 2.0 Act, enacted on December 29, 2022, relating to required minimum distributions, including but not limited to §707 and §711 of the Plan, the commission is hereby authorized to enter into any and all agreements with the plan administrator so that the plan is in compliance with all federal laws and regulations.

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 32:121 (January 2006), LR 50:1011 (July 2024), LR 51:1889 (November 2025).