Coordinated Retirement Plan Sponsor--IRS Submission
WHEREAS, Louisiana Constitution Article X, §29, establishes the State of Louisiana as guarantor of benefits for the retirement plans administered by the State retirement systems for all State public employees and for school employees;
WHEREAS, the State of Louisiana as plan sponsor and employer of all or substantially all of the employees covered by such plans is the appropriate party to file applications with the Internal Revenue Service for any necessary or appropriate plan determinations or rulings regarding the plans;
WHEREAS, the Internal Revenue Service filing cycle for governmental plan determinations opens on February 1, 2013;
WHEREAS, it is in the best interest of the State and the retirement plans that submissions to the IRS regarding state retirement plans be coordinated in order to avoid duplicative costs and conflicting guidance from the IRS;
NOW THEREFORE, I, BOBBY JINDAL, Governor of the State of Louisiana, by virtue of the authority vested by the Constitution and the laws of the State of Louisiana, do hereby order and direct as follows:
SECTION 1: Applicability:
A. This Order shall apply to State plans administered by the Louisiana State Employees' Retirement System, the Teachers’ Retirement System of Louisiana, the Louisiana School Employees’ Retirement System, and the Louisiana State Police Retirement System, including the cash balance plan created within each of the systems described above by §1399.1, et seq. of 2012 La. Acts No. 483.
SECTION 2: Plan Determination Letters:
A. The Commissioner of Administration (the "Commissioner") is hereby authorized and directed, as may be necessary and appropriate, for and on behalf of the State of Louisiana as plan sponsor, to apply to the Internal Revenue Service for one or more determination letters on the tax-qualified status of each plan under §401 of the Internal Revenue Code.
B. The Commissioner shall submit the applications for such determination letters to the Internal Revenue Service during the appropriate period of time described in Revenue Procedure 2007-44, as amended.
C. The Commissioner shall coordinate applications for such determination(s) with each retirement system’s Board of Trustees and/or administrator, in a manner that avoids multiple, duplicative or conflicting submissions;
SECTION 3: Private Letter Rulings:
A. The Commissioner is hereby authorized and directed, as may be necessary and appropriate, for and on behalf of the State of Louisiana as plan sponsor, to apply to the Internal Revenue Service for one or more private letter rulings that each plan is a "retirement system" within the meaning of § 218(b)(4) of the Social Security Act and that the wages of participants covered by the plan are not subject to Social Security withholding.
B. The Commissioner shall submit any such request for such private letter rulings as soon as practicable in coordination with the submission for determination letters and shall have authority to request expedited review.
C. The Commissioner shall coordinate requests for private letter rulings with each retirement system’s Board of Trustees and/or administrator, in a manner that avoids multiple, duplicative or conflicting submissions.
SECTION 4: The retirement systems to which this Order applies are requested to coordinate with the Commissioner and to provide technical support and assistance for the preparation of IRS submissions by the Commissioner.
IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the city of Baton Rouge, on the 22nd day of June, 2012.
Secretary of State