Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
La. Rev. Stat. § 11:837 Overpayment of benefits; collection
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§837. Overpayment of benefits; collection A. Effective January 1, 2006, the right to collect any benefit paid to an individual to whom the benefit was not due resulting from an administrative error by the system shall apply only to amounts paid during the thirty-six-month period …
La. Rev. Stat. § 11:851 Investment of funds; limitations and restrictions; interest
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§851. Investment of funds; limitations and restrictions; interest A. The board of trustees shall be the trustees of the several funds created by R.S. 11:871 and shall have full power to invest and reinvest available funds and to hold, purchase, sell, assign, transfer, and dispose…
La. Rev. Stat. § 11:852 Secretary-treasurer as custodian of funds; bond
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§852. Secretary-treasurer as custodian of funds; bond The secretary-treasurer of the board of trustees shall be the custodian of the several funds. All payments from these funds shall be made by him or the assistant secretary-treasurer only upon vouchers signed by two persons des…
La. Rev. Stat. § 11:853 Cash deposits; limitations
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§853. Cash deposits; limitations For the purpose of meeting disbursements for pensions, annuities, and other payments, cash may be kept available not exceeding ten percent of the total amount in the several funds of the retirement system. This money shall be kept on deposit in on…
La. Rev. Stat. § 11:854 Fiscal agents; selection by board of trustees
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§854. Fiscal agents; selection by board of trustees The board of trustees shall select fiscal agency banks for the deposit of the funds and securities of the Teachers' Retirement System in the same manner as fiscal agent banks are selected by the Board of Liquidation of the State…
La. Rev. Stat. § 11:855 Private interest of trustees and employees in financial operation of system prohibited
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§855. Private interest of trustees and employees in financial operation of system prohibited Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trus…
La. Rev. Stat. § 11:856 Reversion of funds prohibited
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§856. Reversion of funds prohibited A. At no time shall it be possible for the plan assets to be used for, or diverted to, any person other than for the exclusive benefit of the members and their beneficiaries, except that contributions made by the employer may be returned to the…
La. Rev. Stat. § 11:857 Compensation of investment advisors
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§857. Compensation of investment advisors The board of trustees of the Teachers' Retirement System of Louisiana is hereby authorized, in requesting proposals for investment advisory services, to require that fees shall be quoted as a fixed fee, a fee based on market value of asse…
La. Rev. Stat. § 11:871 Funds to which assets credited
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§871. Funds to which assets credited All of the assets of the retirement system shall be credited according to the purpose for which they are held to one of five funds, namely, the annuity savings fund, the employee experience account, the pension accumulation fund, the pension r…
La. Rev. Stat. § 11:872 Contributions when compensation is reduced or not paid
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§872. Contributions when compensation is reduced or not paid In the event the daily compensation paid to a member of this system is reduced by an amount paid to a substitute, the employee and employer contributions to the system shall be the same amount as if no deduction was mad…
La. Rev. Stat. § 11:873 Annuity savings fund; description; contributions to and payment from fund, how made; amount of employees' contributions
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§873. Annuity savings fund; description; contributions to and payment from fund, how made; amount of employees' contributions The annuity savings fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Cont…
La. Rev. Stat. § 11:874 Repealed by Acts 1995, No
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§874. Repealed by Acts 1995, No. 592, §2, eff. July 1, 1995.
La. Rev. Stat. § 11:875 Pension accumulation fund; description and composition of funds; normal and accrued liability contributions; determination
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§875. Pension accumulation fund; description and composition of funds; normal and accrued liability contributions; determination The pension accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits payable f…
La. Rev. Stat. § 11:876 Annual amounts payable to pension accumulation fund from sources other than parish tax collections
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§876. Annual amounts payable to pension accumulation fund from sources other than parish tax collections The total amount payable in each year to the pension accumulation fund, out of funds other than the funds derived from tax collections in the parishes as provided for by R.S. …
La. Rev. Stat. § 11:877 Accrued liability contributions; discontinuance
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§877. Accrued liability contributions; discontinuance The accrued liability contribution shall be discontinued as soon as the accumulated reserve in the pension accumulation fund shall equal the present value, as actuarially computed and approved by the board of trustees, of the …
La. Rev. Stat. § 11:878 Pensions and benefits payable from accumulation fund; transfers to reserve fund
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§878. Pensions and benefits payable from accumulation fund; transfers to reserve fund A. All pensions, and benefits in lieu thereof, with the exception of those payable on account of members who receive no prior service allowance, payable from contributions of employers, shall be…
La. Rev. Stat. § 11:879 Pension reserve fund; description of and payments from fund
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§879. Pension reserve fund; description of and payments from fund The pension reserve fund shall be the fund in which shall be held the reserves on all annuities and on all pensions granted to retirees and from which such pensions and benefits shall be paid. If a beneficiary, ret…
La. Rev. Stat. § 11:880 Supplementary benefit fund and payments therefrom
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§880. Supplementary benefit fund and payments therefrom A. A new fund in the teachers' retirement system is hereby created to be designated as the supplementary benefit fund. From this fund supplementary benefits not to exceed twenty dollars per month are to be made to certain re…
La. Rev. Stat. § 11:881 Benefits for certain employees designated to hold supplemental membership
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§881. Benefits for certain employees designated to hold supplemental membership Notwithstanding any provisions of this Part to the contrary an employee holding membership in the United States Civil Service Retirement System by virtue of his employment by Louisiana State Universit…
La. Rev. Stat. § 11:882 Expense fund
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§882. Expense fund The expense fund is the fund from which the expenses of the administration of the retirement system shall be paid, exclusive of amount payable as retirement allowances or other benefits provided in this Part. The board of trustees shall determine annually the a…
La. Rev. Stat. § 11:883 Unexpended balance in expense fund
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§883. Unexpended balance in expense fund The unexpended balance in the expense fund on June thirtieth of each year shall be paid by the board of trustees into the pension accumulation fund. Added by Acts 1960, No. 401, §2. Amended by Acts 1966, No. 81, §2; Redesignated from R.S. …
La. Rev. Stat. § 11:883.1 Experience account
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§883.1. Experience account A.(1) Effective July 1, 2004, the balance in the experience account shall be zero. (2) Effective June 30, 2009, the balance in the experience account shall be zero. Any funds in the account on June 29, 2009, shall be allocated in the following order: (a…
La. Rev. Stat. § 11:883.1.1 Supplemental cost-of-living increase for 2007; payment from experience account
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§883.1.1. Supplemental cost-of-living increase for 2007; payment from experience account A. The Constitution of Louisiana requires the legislature to provide for the retirement of teachers and other employees of the public educational system of the state. The legislature finds th…
La. Rev. Stat. § 11:883.2 Benefit adjustments; cost-of-living adjustments; supplemental benefits
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§883.2. Benefit adjustments; cost-of-living adjustments; supplemental benefits Any benefit adjustment or cost-of-living adjustment authorized by any law shall not cause a decrease in any supplemental benefits or payments authorized by any law. Acts 1997, No. 812, §1, eff. July 1,…
La. Rev. Stat. § 11:883.3 Minimum benefit increase; payment from experience account
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§883.3. Minimum benefit increase; payment from experience account A. A monthly minimum benefit increase shall be payable to: (1) Each retiree of the system who, on June 30, 2009, meets all of the following criteria: (a) The retiree has thirty or more years of service credit, excl…
La. Rev. Stat. § 11:883.3.1 2021 minimum benefit increase; payment from experience account
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§883.3.1. 2021 minimum benefit increase; payment from experience account A. A monthly minimum benefit increase shall be payable to: (1) Each retiree of the system who, on June 30, 2021, meets all of the following criteria: (a) He has thirty or more years of service credit, exclus…
La. Rev. Stat. § 11:883.4 Permanent benefit increase; payable beginning July 1, 2016
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§883.4. Permanent benefit increase; payable beginning July 1, 2016 A. Notwithstanding any provision of R.S. 11:883.1 to the contrary, the board of trustees of the Teachers' Retirement System of Louisiana may pay a permanent benefit increase, payable beginning July 1, 2016, to the…
La. Rev. Stat. § 11:883.5 Permanent benefit increase funding account
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§883.5. Permanent benefit increase funding account A. Effective July 1, 2023, the balance in the permanent benefit increase funding account, referred to in this Section as the "PBI account", shall be zero. B.(1) The PBI account shall be credited as follows: (a) Any amount allocat…
La. Rev. Stat. § 11:884 Collection of members' contributions; procedure
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§884. Collection of members' contributions; procedure A. The collection of members' contributions shall be as follows: (1) Each employer shall cause to be deducted on each and every payroll of a member eight percent of the earnable compensation of such member; provided, however, …
La. Rev. Stat. § 11:885 Collection of employers' contributions; procedure
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§885. Collection of employers' contributions; procedure The collection of employers' contributions on the earnable compensation of members shall be made as follows: (1) The board of trustees shall certify to the State Department of Education, the Board of Elementary and Secondary…
La. Rev. Stat. § 11:886 Collection of delinquent contributions
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§886. Collection of delinquent contributions Should any parish or city school board refuse or unduly delay transmitting either employers contributions or members contributions, the State Department of Education at the request of the board of trustees is authorized to withhold fro…
La. Rev. Stat. § 11:887 Failure to timely remit contributions; effect
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§887. Failure to timely remit contributions; effect A. Notwithstanding the provisions of R.S. 11:886, should any parish or city school board or other employer refuse to transmit either employer's contributions or members' contributions within ten days after its due date, the paym…
La. Rev. Stat. § 11:888 Submission of contributions reports; liability for erroneous information; limitations and corrections
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§888. Submission of contributions reports; liability for erroneous information; limitations and corrections A. Each employer shall transmit, monthly, a contributions report setting forth necessary salary and deduction information, provided that the board of trustees may, in its d…
La. Rev. Stat. § 11:888.1 Service for which credit has not been received
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§888.1. Service for which credit has not been received If a person is employed in a position in which he should have been enrolled in this system on the date of employment, but was not enrolled in any public retirement system, he shall become a member of this system. He may estab…
La. Rev. Stat. § 11:889 Contributions; certain school boards
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§889. Contributions; certain school boards A. Each local school board which compensates member teachers employed by it at salaries in excess of the minimum salaries established by law in the statewide minimum teachers salary schedule and member supervisors and central staff emplo…
La. Rev. Stat. § 11:890 Repealed by Acts 1997, No
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§890. Repealed by Acts 1997, No. 812, §2, eff. July 1, 1997.
La. Rev. Stat. § 11:891 Repealed by Acts 1997, No
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§891. Repealed by Acts 1997, No. 812, §2, eff. July 1, 1997.
La. Rev. Stat. § 11:892 Contributions; limitation
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§892. Contributions; limitation The retirement benefits provided by this Part shall not exceed one hundred percent, and when a member has earned a benefit accrual equal to one hundred percent, no further contributions shall be required of him. However, the state shall continue to…
La. Rev. Stat. § 11:893 Maintenance of annuity and pension reserves; payment of benefits guaranteed
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§893. Maintenance of annuity and pension reserves; payment of benefits guaranteed The maintenance of annuity reserves and pension reserves, and regular interest creditable to the various funds as provided in this Part, and the payment of all pensions, annuities, retirement allowa…
La. Rev. Stat. § 11:894 Payment not due; interest
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§894. Payment not due; interest Whenever a retiree, beneficiary, survivor, or other person illegally obtains money or benefits which are not due them, the repayment of such overpayment to the system or the recovery of the overpayment as authorized by R.S. 11:192 shall include int…
La. Rev. Stat. § 11:895 Overpayment of employer contributions
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§895. Overpayment of employer contributions The Teachers' Retirement System of Louisiana is authorized to apply any overpayment of employer contributions made during a fiscal year to any months in which there are employer contributions due the retirement system. Those months due …
La. Rev. Stat. § 11:896 Repealed by Acts 2017, No
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§896. Repealed by Acts 2017, No. 285, §2, eff. June 30, 2017.
La. Rev. Stat. § 11:901.1 Annual allocation of state funds for supplement to teachers' retirement allowance; eligibility; amount
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§901.1. Annual allocation of state funds for supplement to teachers' retirement allowance; eligibility; amount There is hereby dedicated or allocated out of the general fund of the State of Louisiana the sum of two hundred fifteen thousand dollars ($215,000.00) annually, or so mu…
La. Rev. Stat. § 11:901.10 Certification of money required; limitation; payment
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§901.10. Certification of money required; limitation; payment The board of trustees of the teachers' retirement system of Louisiana shall determine annually the amount required to pay the cost of the benefits provided by this Sub-part and shall certify such amount to the state au…
La. Rev. Stat. § 11:901.11 Reduction of monthly payments
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§901.11. Reduction of monthly payments If the board of trustees of the teachers' retirement system of Louisiana finds that during any fiscal year the total amount of the benefits provided by this Sub-part exceeds the sum allocated or dedicated or appropriated by this Sub-part out…
La. Rev. Stat. § 11:901.12 Payments to retirement fund of Orleans Parish
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§901.12. Payments to retirement fund of Orleans Parish In lieu of paying monthly to each individual retirant of the teachers' retirement fund of Orleans parish the amount which he is entitled to receive under the provisions of this Sub-part, the board of trustees of the teachers'…
La. Rev. Stat. § 11:901.13 Allocation of funds; computation; eligibility; schedule
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§901.13. Allocation of funds; computation; eligibility; schedule There is hereby dedicated or allocated out of the state public school fund of the state of Louisiana the sum of $460,000 annually, or so much thereof as may be necessary, beginning on the first of the month immediat…
La. Rev. Stat. § 11:901.14 Administration of benefits
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§901.14. Administration of benefits The board of trustees of the teachers' retirement system of Louisiana under such rules and regulations as the said board of trustees may adopt, not inconsistent herewith, shall administer all the benefits provided by this Sub-part. Added by Act…
La. Rev. Stat. § 11:901.15 Certification of money required; limitation; payment
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§901.15. Certification of money required; limitation; payment The board of trustees of the teachers' retirement system of Louisiana shall determine annually the amount required to pay the cost of the benefits provided by this Sub-part and shall certify such amount to the state au…
La. Rev. Stat. § 11:901.16 Reduction of monthly payments
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§901.16. Reduction of monthly payments If the board of trustees of the teachers' retirement system of Louisiana finds that during any fiscal year the total amount of the benefits provided by this Sub-part exceeds the sum allocated or dedicated or appropriated by this Sub-part out…