Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
La. Rev. Stat. § 11:951.7 Maintenance of reserves and payment of benefits, etc., guaranteed
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§951.7. Maintenance of reserves and payment of benefits, etc., guaranteed The creation and maintenance of reserves in the pension accumulation account; the maintenance of the annuity reserves in the annuity reserve account and the pension reserves in the pension reserve account; …
La. Rev. Stat. § 11:951.71 Creditable service; determination by board of trustees
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§951.71. Creditable service; determination by board of trustees Creditable service shall be determined under such rules and regulations as the board of trustees shall adopt, each present employee, who rendered continuous service as a regular employee prior to the effective date o…
La. Rev. Stat. § 11:951.72 Prior service certificates; issuance, conclusiveness and modification
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§951.72. Prior service certificates; issuance, conclusiveness and modification Subject to the above restrictions and to other rules and regulations the board of trustees may adopt, the board of trustees shall verify, as soon as practicable after the filing of such statement of pr…
La. Rev. Stat. § 11:951.73 Expiration of prior service certificates
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§951.73. Expiration of prior service certificates When an employee ceases to be a participant his prior service certificate shall become void. Should the employee again become a participant, he shall enter the system as a participant not entitled to prior credit except as provide…
La. Rev. Stat. § 11:951.74 Service on which retirement allowances are based
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§951.74. Service on which retirement allowances are based Creditable service at retirement, on which the retirement allowance of a participant is based, shall consist of subsequent service rendered by him since last becoming a participant, and also if he has prior service credit,…
La. Rev. Stat. § 11:951.81 Retirement benefits; application for; eligibility requirements
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§951.81. Retirement benefits; application for; eligibility requirements Any participant in service may retire upon written application to the board of trustees, filed not less than thirty days nor more than ninety days prior to the date on which the retirement is to become effect…
La. Rev. Stat. § 11:951.82 Retirement at age 70
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§951.82. Retirement at age 70 Any participant in service who has attained age seventy within the two years following the effective date of the establishment of the retirement system, or who shall thereafter attain age seventy, shall be retired forthwith on a service retirement al…
La. Rev. Stat. § 11:951.83 Retirement allowances
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§951.83. Retirement allowances A participant retired on account of service shall receive a service retirement allowance which shall consist of: (1) An annuity which shall be the actuarial equivalent of his accumulated contributions at retirement; and (2) A pension on account of s…
La. Rev. Stat. § 11:951.84 Disability retirement benefits; application for; eligibility requirements
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§951.84. Disability retirement benefits; application for; eligibility requirements Upon the application of a participant or of the Orleans Parish School Board, any participant who has completed ten or more years of creditable service may be retired by the board of trustees not le…
La. Rev. Stat. § 11:951.85 Allowances on disability retirement
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§951.85. Allowances on disability retirement A participant retired on account of disability shall receive a service retirement allowance if he is eligible therefor; otherwise he shall receive a disability retirement allowance which shall consist of: (1) An annuity which shall be …
La. Rev. Stat. § 11:951.86 Re-examination of beneficiaries retired for disability; restoration to active service
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§951.86. Re-examination of beneficiaries retired for disability; restoration to active service A. Once each year during the first five years following retirement and once in every three-year period thereafter the board of trustees may, or upon application of the beneficiary shall…
La. Rev. Stat. § 11:951.87 Return of accumulated contributions upon termination of employment; death of beneficiary
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§951.87. Return of accumulated contributions upon termination of employment; death of beneficiary A. Should a participant cease to be an employee except by death or retirement under the provisions of this Part, he shall be paid his accumulated contributions including regular inte…
La. Rev. Stat. § 11:951.88 Optional benefits
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§951.88. Optional benefits With the provision that no optional selection shall be effective in case a participant retires or dies within thirty days after the date of retirement, and that in all such cases there shall be paid the amount of the contributions of the participant as …
La. Rev. Stat. § 11:952.1 Definitions
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§952.1. Definitions As used in this Part, the following words and phrases have the meaning ascribed to them in this Section, unless a different meaning is plainly required by the context: (1) "Accumulated contributions" means the sum of all the amounts deducted from the compensat…
La. Rev. Stat. § 11:952.11 New employees
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§952.11. New employees A. Except as provided under Subsection B of this Section, any person becoming a nonstudent regular employee, full time or part time, of the university after the effective date of this funded system, unless specifically excluded under the provisions of R.S. …
La. Rev. Stat. § 11:952.12 Employees on the effective date; election of coverage under the funded University Retirement System
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§952.12. Employees on the effective date; election of coverage under the funded University Retirement System Each employee on the effective date of the funded system, who is a member of the nonfunded university retirement plan and who is covered in such employment under the Feder…
La. Rev. Stat. § 11:952.13 Termination of membership
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§952.13. Termination of membership Membership in the funded system shall cease when a member receives a refund of his accumulated contributions, or receives a retirement benefit under this system, or dies. Added by Acts 1971, No. 26, §1. Redesignated from R.S. 17:1617 pursuant to…
La. Rev. Stat. § 11:952.14 Classes of employees not eligible
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§952.14. Classes of employees not eligible Any other provision of this part to the contrary notwithstanding, the following classes of employees shall be excluded from membership in this funded system: (1) Members of the Teachers Retirement System of Louisiana. (2) Members of the …
La. Rev. Stat. § 11:952.2 Name and establishment of funded university retirement system
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§952.2. Name and establishment of funded university retirement system A. A university funded retirement system is established with all the powers and privileges pertaining to corporations, under the management of the board of supervisors for the purpose of providing retirement al…
La. Rev. Stat. § 11:952.21 Service after effective date
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§952.21. Service after effective date All service as a regular employee, whether on a full-time or part-time basis, rendered by a member prior to retirement, since he became a member, or since he last became a member in the event of a break in membership, for which he has made co…
La. Rev. Stat. § 11:952.22 Service prior to the effective date
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§952.22. Service prior to the effective date For any employee who elected pursuant to R.S. 11:952.12 to become a member of the funded system as of the effective date or for former employees who are subsequently reemployed, credited service shall also include any service prior to …
La. Rev. Stat. § 11:952.23 Service on which retirement allowances are based
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§952.23. Service on which retirement allowances are based Credited service at retirement on which the retirement allowance of a member shall be based shall consist of his credited service rendered after the effective date, plus, if applicable, credited service rendered prior to t…
La. Rev. Stat. § 11:952.24 Computation of credited service
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§952.24. Computation of credited service A.(1) The computation of credited service rendered while a member shall include authorized leaves of absence on full or part pay, with appropriate employee and employer contributions being made on payments received during leave status. An …
La. Rev. Stat. § 11:952.3 Exemption of pension and other rights from levy and other processes
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§952.3. Exemption of pension and other rights from levy and other processes The right of a person to a retirement allowance, or to the return of contributions; the retirement allowance itself; any optional benefit or any other right accrued or accruing to any person under the pro…
La. Rev. Stat. § 11:952.31 Service retirement
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§952.31. Service retirement A. Any member in service may retire on a service retirement allowance upon written application to the board of supervisors setting forth at what time, not less than ninety days subsequent to the execution and filing thereof, he desires to be retired, p…
La. Rev. Stat. § 11:952.32 Service retirement allowance
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§952.32. Service retirement allowance A. For service retirement commencing with the end of the 1974-1975 academic year, a member shall receive a service retirement allowance, inclusive of any tax-sheltered annuity purchased for the member under the provisions of R.S. 11:952.52(F)…
La. Rev. Stat. § 11:952.33 Early service retirement
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§952.33. Early service retirement Any member who has not attained age sixty-five may retire on an early service retirement allowance upon written application to the board of supervisors setting forth at what time, not less than ninety days subsequent to the execution and filing t…
La. Rev. Stat. § 11:952.34 Early service retirement allowance
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§952.34. Early service retirement allowance The early service retirement allowance shall be computed as a service retirement allowance as provided in R.S. 11:952.32. Added by Acts 1971, No. 26, §1. Amended by Acts 1972, No. 519, §1. Redesignated from R.S. 17:1626 pursuant to R.S.…
La. Rev. Stat. § 11:952.35 Cost-of-living benefits
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§952.35. Cost-of-living benefits A.(1) Any member who retired prior to May 13, 1975, and the beneficiary of a deceased retired member who retired prior to May 13, 1975 under Option 2 or Option 3 and any survivor of a member who died prior to May 13, 1975 and prior to retirement w…
La. Rev. Stat. § 11:952.36 Disability retirement
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§952.36. Disability retirement A. Eligibility for disability benefits, procedures for application for disability benefits, procedures for the certification of continuing eligibility for disability benefits, the authority of the board of trustees to modify disability benefits, and…
La. Rev. Stat. § 11:952.37 Surviving spouse allowance
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§952.37. Surviving spouse allowance A.(1) Upon receipt by the board of supervisors of proper proof of the death of a member in service who has completed ten years of credited service, or a member not in service who, on the date his employment ceased, had completed twenty years of…
La. Rev. Stat. § 11:952.38 Retirement allowance options
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§952.38. Retirement allowance options A. A member may retire under one of the following options: Option 1: pays total of retirement allowance formula in a retirement benefit for life of member, with no benefits payable to a beneficiary after his death except as provided in R.S. 1…
La. Rev. Stat. § 11:952.39 Restoration to active service
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§952.39. Restoration to active service A. If any former employee with deferred vesting rights or if any beneficiary is restored to active service, any retirement allowance shall cease, any election of an optional benefit in effect thereunder shall become void, and he shall again …
La. Rev. Stat. § 11:952.4 False statements or falsification of records; penalty; errors
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§952.4. False statements or falsification of records; penalty; errors A. Any person who knowingly makes any false statement or falsifies or permits to be falsified any record or records of this funded retirement system in any attempt to defraud such system shall be fined not more…
La. Rev. Stat. § 11:952.40 Minimum benefit payable to former participants in the nonfunded university retirement plan
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§952.40. Minimum benefit payable to former participants in the nonfunded university retirement plan Anything herein to the contrary notwithstanding, the retirement allowance payable at retirement, inclusive of any tax-sheltered annuity purchased for the member under the provision…
La. Rev. Stat. § 11:952.41 Conditions for vested deferred retirement allowance
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§952.41. Conditions for vested deferred retirement allowance A. Subject to the provisions of R.S. 11:952.41(B), a member who has completed five or more years of credited service as a contributing member of this system or ten or more years of total credited service, and who, for r…
La. Rev. Stat. § 11:952.42 Return of member's contributions
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§952.42. Return of member's contributions A. If a member ceases to be an employee for reasons other than retirement or death and if he has not elected or is ineligible to receive a vested deferred retirement allowance under R.S. 11:952.41, the amount of his accumulated contributi…
La. Rev. Stat. § 11:952.43 Benefits for certain employees designated to hold supplemental membership
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§952.43. Benefits for certain employees designated to hold supplemental membership Any provisions of this Chapter to the contrary notwithstanding, an employee holding membership in the United States Civil Service Retirement System by virtue of his employment by the university sha…
La. Rev. Stat. § 11:952.51 Funds to which assets credited
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§952.51. 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 two funds, namely, the members' fund and the accumulation fund. Added by Acts 1971, No. 26, §1. Redesignated from R.S. 1…
La. Rev. Stat. § 11:952.52 Members' fund; tax-sheltered annuities
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§952.52. Members' fund; tax-sheltered annuities A. The members' fund shall be the fund in which shall be accumulated contributions deducted from the compensation of members. B.(1) Contributions shall be made by each member on and after the effective date of the system equal to: (…
La. Rev. Stat. § 11:952.53 Accumulation fund
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§952.53. Accumulation fund A. The accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all benefits payable from contributions made by the university, and all amounts transferred from the members' fund, and from which shall be paid all…
La. Rev. Stat. § 11:952.54 Operating expenses
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§952.54. Operating expenses The board of supervisors shall include an estimated amount required for operating expenses of the system in the appropriation for the operating expenses of the university. Added by Acts 1971, No. 26, §1. Redesignated from R.S. 17:1639 pursuant to R.S. …
La. Rev. Stat. § 11:952.55 Appropriations by state
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§952.55. Appropriations by state The board of supervisors shall include in its annual operating budget submitted to the state an estimate of the contributions of the state to the system necessary for the ensuing fiscal year. Added by Acts 1971, No. 26, §1. Redesignated from R.S. …
La. Rev. Stat. § 11:952.61 Board of supervisors; administrative powers in general
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§952.61. Board of supervisors; administrative powers in general A. The general administration and responsibility for the proper operation of the retirement system and for making effective the provisions of this chapter are vested in the Board of Supervisors of Louisiana State Uni…
La. Rev. Stat. § 11:952.62 Actuary; appointment; duties and powers
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§952.62. Actuary; appointment; duties and powers The board of supervisors shall designate an actuary who shall be the technical advisor of the board of supervisors on matters regarding the operation of the funds created by the provisions of this part, and shall perform such other…
La. Rev. Stat. § 11:952.71 Investment of funds by board of supervisors; limitations and restrictions; interest
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§952.71. Investment of funds by board of supervisors; limitations and restrictions; interest A. The board of supervisors shall be the trustees of the funds, and shall have full power to invest and reinvest such funds, subject to all the terms, conditions, limitation and restricti…