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La. Rev. Stat. § 11:1401 Creation of retirement fund and of corporate board of trustees; powers of board
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§1401. Creation of retirement fund and of corporate board of trustees; powers of board There is hereby created effective July 26, 1950, an "Assessors' Retirement Fund" for all parishes of the state of Louisiana, and a public corporation to be known as the "Board of Trustees of th…
La. Rev. Stat. § 11:1402 Definitions
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§1402. Definitions As used in this Chapter, the following words and phrases shall have the meanings ascribed to them unless the context clearly indicates otherwise: (1) "Accumulated employee contributions" means the sum of all amounts deducted from a member's salary and paid to t…
La. Rev. Stat. § 11:1403 Exemption from seizure for debt, taxation
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§1403. Exemption from seizure for debt, taxation The right of a person to a pension, an annuity, retirement allowance, disability benefit, surviving spouse benefits, dependent child's benefit, or to a return of contributions, the pension, annuity, retirement allowance, disability…
La. Rev. Stat. § 11:1404 Amendment of provisions of retirement system
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§1404. Amendment of provisions of retirement system A. The provisions of the retirement system established by R.S. 11:1401 may be amended by action of the legislature in the same manner as any other statute may be amended by the legislature. In addition, action of the board with …
La. Rev. Stat. § 11:141 Retention of credits
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§141. Retention of credits Any person who is a member of any actuarially funded system paid for in whole or part from public funds, other than the State Employees' Retirement System of Louisiana, the Louisiana School Employees' Retirement System of Louisiana, and the Teachers' Re…
La. Rev. Stat. § 11:1410 Membership in fund
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§1410. Membership in fund A. Membership in the Assessors' Retirement Fund and eligibility for retirement benefits shall be determined as set forth hereunder: (1) Any assessor who was serving in office on July 26, 1950, or who is elected or appointed to office after July 26, 1950,…
La. Rev. Stat. § 11:1411 Creditable service
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§1411. Creditable service A. Commencing October 1, 1989, and thereafter, a member shall receive credit for all service rendered as an assessor, assessor's employee, secretary and regular employees of the fund for which contributions have been paid and not withdrawn. B. In the com…
La. Rev. Stat. § 11:1412 Credit for noncredited prior service
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§1412. Credit for noncredited prior service Any person who was eligible for membership but was not enrolled as a member for whatever reason may upon application receive credit for the time such person was otherwise eligible for membership. The person's employer must certify the i…
La. Rev. Stat. § 11:1413 Reemployment of a retiree
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§1413. Reemployment of a retiree A retiree receiving retirement benefits from the system may be temporarily reemployed by an assessor but the retiree shall not be or become a member of the system during such reemployment. If the retiree is reemployed in any capacity for more than…
La. Rev. Stat. § 11:142 Reciprocal recognition of credited service in state, parochial, and municipal systems
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§142. Reciprocal recognition of credited service in state, parochial, and municipal systems A. A member of any state, municipal, or parochial retirement system with membership service credit in any other state, municipal, or parochial retirement system, or an eligible survivor of…
La. Rev. Stat. § 11:1421 Eligibility for normal retirement
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§1421. Eligibility for normal retirement A. All members of the fund hired on or before September 30, 2013, shall be eligible for participation in the benefits of this fund upon written application for such allowance to the board of trustees if: (1) The member has twelve years or …
La. Rev. Stat. § 11:1422 Computation of normal retirement benefit
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§1422. Computation of normal retirement benefit A. Any member whose first employment making him eligible for membership in the system began on or before September 30, 2006, and who is eligible for normal retirement shall, upon making written application to the board of trustees, …
La. Rev. Stat. § 11:1423 Mode of payment; options; effective date
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§1423. Mode of payment; options; effective date A. Upon application for normal retirement, any participant may elect to receive his benefit in a retirement allowance payable throughout life, or he or she may elect at that time to receive the actuarial equivalent of his retirement…
La. Rev. Stat. § 11:143 Transfers between systems
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§143. Transfers between systems A. As provided in Subsection G of this Section, any person who is in active service and is a member of any public retirement or pension system, fund, or plan maintained primarily for officers and employees of the state of Louisiana or of any politi…
La. Rev. Stat. § 11:143.1 Correction of membership errors
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§143.1. Correction of membership errors A. The provisions of this Section shall be applicable to all employees in positions covered by state and statewide public retirement systems. B.(1) If a person is employed in a position that on the date of employment was covered by a system…
La. Rev. Stat. § 11:1431 Eligibility for disability retirement
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§1431. Eligibility for disability retirement 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 be…
La. Rev. Stat. § 11:1432 Computation of disability retirement benefit
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§1432. Computation of disability retirement benefit A. The board of trustees shall award disability benefits to eligible members who have been officially certified as having a disability by the State Medical Disability Board. The disability benefit shall be the lesser of (1) or (…
La. Rev. Stat. § 11:144 Repayment of refunded contributions
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§144. Repayment of refunded contributions A. For purposes of R.S. 11:142 and 143, a member of any state, parochial, or municipal retirement system having credit for at least six months in any such system may repay refunded contributions, plus compounded interest at the board-appr…
La. Rev. Stat. § 11:144.1 Repayment of refunded contributions; merged retirement systems
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§144.1. Repayment of refunded contributions; merged retirement systems Any person who: (1) was a member of a public retirement system, and (2) who terminated his membership in such system and received a refund of contributions, and (3) who thereafter becomes a member of a state o…
La. Rev. Stat. § 11:1441 Surviving spouse's benefit
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§1441. Surviving spouse's benefit A. If a member of this fund dies in service with less than twelve years of creditable service, and leaves a surviving spouse, his accumulated contributions shall be paid to the surviving spouse. B. If a member dies and has twelve or more years of…
La. Rev. Stat. § 11:1442 Surviving minor children
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§1442. Surviving minor children Should a member of this fund die solely from injuries received in line of duty, or should he die from natural causes after four years creditable service, and should leave no surviving spouse, but should leave a child or children under the age of ei…
La. Rev. Stat. § 11:1443 Payment to designated beneficiary
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§1443. Payment to designated beneficiary If a member dies before retiring and leaves no surviving spouse or minor or dependent children, the designated beneficiary shall be entitled to the accumulated contributions in the fund, provided that the designation of beneficiary has bee…
La. Rev. Stat. § 11:1444 Limitation on payment of benefits
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§1444. Limitation on payment of benefits A.(1) Unless the member has elected otherwise on or before December 31, 1983, the entire benefit of a member shall be distributed over a period not longer than the longest of the following periods: (a) The member's life. (b) The life of th…
La. Rev. Stat. § 11:1445 Guaranteed return of accumulated contributions
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§1445. Guaranteed return of accumulated contributions A. If the total of all benefits paid to a retiree and all benefits paid on his account after his death, if any, is less than the retiree's accumulated employee contributions, the remaining accumulated employee contributions sh…
La. Rev. Stat. § 11:1446 Military survivor benefits
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§1446. Military survivor benefits Effective January 1, 2007, if a member dies while on a leave of absence to perform qualified military service as described in 26 U.S.C. 414(u), his beneficiary shall be entitled to any benefit, except benefits that accrued during the period of qu…
La. Rev. Stat. § 11:145 Creditable service of certain elected officials
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§145. Creditable service of certain elected officials A. Notwithstanding any other provision of law to the contrary, any person who is now or who hereafter is elected to public office and who is now or hereafter becomes a member of the Louisiana State Employees' Retirement System…
La. Rev. Stat. § 11:1451 Conditions for payment of benefit
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§1451. Conditions for payment of benefit No regular, disability, survivor, or other benefit from the fund, including a refund of accumulated employee contributions and any optional benefit, shall be payable until and unless a written application therefor is filed with the board p…
La. Rev. Stat. § 11:1452 Deferred retirement
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§1452. Deferred retirement If the services as an employee or assessor of any member who has twelve or more years of credited service are terminated prior to the time that the member becomes eligible for normal retirement, the former member may leave his contributions in the fund …
La. Rev. Stat. § 11:1453 Application; effective date; commencement of benefits
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§1453. Application; effective date; commencement of benefits A. Any member may retire upon written application to the board of trustees upon eligibility therefor. An application for retirement shall be officially filed with the board when received in the retirement office. Applic…
La. Rev. Stat. § 11:1454 Dual retirement benefits prohibited
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§1454. Dual retirement benefits prohibited No member of this fund shall be eligible to draw more than one retirement from this fund at the same time, except that a surviving spouse of a member may draw retirement benefits and also surviving spouse benefits from this fund at the s…
La. Rev. Stat. § 11:1455 Withdrawal of accumulated employee contributions; repayment
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§1455. Withdrawal of accumulated employee contributions; repayment A. If the membership of a member who is not eligible to retire is terminated, the former member may make a written application for and obtain a refund of his accumulated employee contributions. However, no refund …
La. Rev. Stat. § 11:1456.1 Back-Deferred Retirement Option Program
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§1456.1. Back-Deferred Retirement Option Program A.(1) There is hereby created an optional retirement benefit program for members of the fund called the "Back-Deferred Retirement Option Program" which shall be referred to in this Chapter as "Back-DROP". (2) In lieu of receiving a…
La. Rev. Stat. § 11:1456.2 Rescission of participation in the Deferred Retirement Option Plan
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§1456.2. Rescission of participation in the Deferred Retirement Option Plan Notwithstanding any law to the contrary, any participant in the Deferred Retirement Option Plan (DROP) of this fund who has not severed employment and has not taken a distribution from his DROP account ma…
La. Rev. Stat. § 11:1457 Qualified plan; direct rollover; eligible retirement plan; election
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§1457. Qualified plan; direct rollover; eligible retirement plan; election A. Notwithstanding any other provision of law to the contrary that would otherwise limit a state or statewide retirement system member's election under this Section, a distributee may elect, at the time an…
La. Rev. Stat. § 11:1458 Computation of retirement benefits
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§1458. Computation of retirement benefits A.(1) This Section is intended to comply with Section 415 of the Internal Revenue Code. (2) The normal retirement benefit of a member shall not exceed the dollar amount set forth in this Section. (3) The board may promulgate rules in acco…
La. Rev. Stat. § 11:146 Credit for certain Louisiana State University service
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§146. Credit for certain Louisiana State University service A. Any person who is now and has been a contributing member for at least eighteen months of any actuarially funded retirement system in this state which is supported in whole or in part with public funds shall be eligibl…
La. Rev. Stat. § 11:1461 Cost-of-living increase; determination by board of trustees
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§1461. Cost-of-living increase; determination by board of trustees A. The board of trustees may use excess interest earnings on investments of the system in excess of normal requirements as determined by the actuary to provide a cost-of-living increase in benefits for retired mem…
La. Rev. Stat. § 11:147 Elected public officials serving less than a full term of office because of the 1974 Constitution of Louisiana
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§147. Elected public officials serving less than a full term of office because of the 1974 Constitution of Louisiana Notwithstanding any other provision of law to the contrary, but in accordance with applicable laws relative to the receipt of service credit which are not in confl…
La. Rev. Stat. § 11:1471 Membership and organization of board; election of members; vacancies
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§1471. Membership and organization of board; election of members; vacancies A. The board of trustees shall be composed of seventeen members as follows: (1) The president, vice president, and treasurer of the Louisiana Assessors' Association. (2) Twelve other members who shall be …
La. Rev. Stat. § 11:1472 Secretary of board; records and reports; part-time employees
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§1472. Secretary of board; records and reports; part-time employees A. The board of trustees shall have authority to appoint a secretary, and shall fix, at its discretion, the salary to be paid as compensation for such services, and to employ actuarial, clerical, and other help a…
La. Rev. Stat. § 11:148 Membership age limitations
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§148. Membership age limitations A.(1)(a) The purpose of this Section is to provide uniform membership age limitations for public retirement systems and pension funds. (b) The provisions of this Section are applicable with respect to all retirement systems and pension funds maint…
La. Rev. Stat. § 11:1481 Financing of fund; deductions; deficiencies and surpluses; remedies
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§1481. Financing of fund; deductions; deficiencies and surpluses; remedies The fund shall be financed as set forth hereunder: (1)(a)(i) Each sheriff and ex officio tax collector of the state of Louisiana, or other official responsible for such tax collection, is hereby authorized…
La. Rev. Stat. § 11:1482 Funds to which assets credited
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§1482. Funds to which assets credited A. The annuity savings fund shall be the fund to which shall be credited all accumulated contributions of members. From this fund shall be paid the refunded contributions because of withdrawal or death of a member, and the amounts required to…
La. Rev. Stat. § 11:1483 Control and expenditure of funds; investments; warrants; expenses; deposits
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§1483. Control and expenditure of funds; investments; warrants; expenses; deposits A. The board of trustees shall have complete control of the funds and shall have the power to draw such sums of money from its treasury for expenses as hereinafter provided for and to invest such f…
La. Rev. Stat. § 11:1484 Reversion of funds prohibited
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§1484. 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 or purpose other than for the exclusive benefit of the members and their beneficiaries, except that contributions made by the employer may be ret…
La. Rev. Stat. § 11:149 Reemployment of retirees
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§149. Reemployment of retirees A. Notwithstanding any other provision of law to the contrary, any person who retires from employment with a department of state government as defined in Title 36 of the Louisiana Revised Statutes of 1950, shall, upon reemployment by the same depart…
La. Rev. Stat. § 11:1491 Establishment of plan
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§1491. Establishment of plan There is hereby created a separate, unfunded, non-qualified excess benefit plan containing the terms and provisions set forth in this Part and intended to be a qualified governmental excess benefit arrangement, as defined in Section 415(m)(3) of the I…
La. Rev. Stat. § 11:1492 Definitions
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§1492. Definitions A. All definitions prescribed in Part I of this Chapter are applicable to the plan created pursuant to this Part, unless a different definition is set forth in this Part or the context in which a term is used in this Part indicates a different meaning than that…
La. Rev. Stat. § 11:1493 Benefit provided
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§1493. Benefit provided A. An excess benefit participant who is receiving benefits from the fund is entitled to a monthly benefit under this excess benefit plan in an amount equal to the lesser of: (1) The member's unrestricted benefit less the maximum benefit. (2) The amount by …
La. Rev. Stat. § 11:1494 Contributions
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§1494. Contributions A.(1) Contributions may not be accumulated under this excess benefit plan to pay future retirement benefits. Instead, each payment of contributions by the employer that would otherwise be made to the fund shall be reduced by the amount, determined by the boar…
