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La. Rev. Stat. § 11:166 Secretaries of appointed or elected chiefs of police; membership
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§166. Secretaries of appointed or elected chiefs of police; membership A. It is hereby recognized that on and before August 29, 1986, all secretaries to appointed or elected chiefs of police were members of the Municipal Employees' Retirement System, sometimes hereafter referred …
La. Rev. Stat. § 11:1671 Investment of funds by board of trustees; interest rates
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§1671. Investment of funds by board of trustees; interest rates A. The board of trustees shall be the trustees of the several funds created by this Chapter as provided in Part VII of this Chapter and shall have full power to invest and reinvest such funds in accordance with the p…
La. Rev. Stat. § 11:1671.1 Indexing; equity limitations; pilot program
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§1671.1. Indexing; equity limitations; pilot program A. A temporary pilot program is hereby created for the purpose of obtaining empirical evidence. The program authorizes this fully funded, statewide public retirement system to prudently exceed the fifty-five percent equity limi…
La. Rev. Stat. § 11:1672 Certification of pension payrolls; bond of secretary-manager
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§1672. Certification of pension payrolls; bond of secretary-manager All expense vouchers and pension payrolls shall be certified by the secretary-manager. The secretary-manager shall furnish the board of trustees a surety bond in a company authorized to do business in Louisiana a…
La. Rev. Stat. § 11:1673 Cash deposits for payment of benefits; limitations as to amounts
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§1673. Cash deposits for payment of benefits; limitations as to amounts For the purpose of meeting disbursements for pensions, annuities, and other payments there may be kept available cash, not exceeding ten percent of the total amount in the several funds of the retirement syst…
La. Rev. Stat. § 11:1674 Selection of fiscal agents
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§1674. Selection of fiscal agents The board of trustees shall approve the fiscal agency bank or banks selected by the state treasurer for the deposit of the funds and securities of this retirement system provided that no bank shall be selected unless the bank is a fiscal agent of…
La. Rev. Stat. § 11:1675 Private interest of trustees and employees in financial operation of system prohibited
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§1675. 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 tru…
La. Rev. Stat. § 11:1691 Funds to which assets credited
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§1691. 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 Pension Accumulation Fund, the Pension Reserve Fund, the Deferred Retire…
La. Rev. Stat. § 11:1692 Annuity savings fund; contributions defined
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§1692. Annuity savings fund; contributions defined A. The annuity savings fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Contributions to and payments from the annuity savings fund shall be made as…
La. Rev. Stat. § 11:1693 Deferred Retirement Option Plan Account
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§1693. Deferred Retirement Option Plan Account Upon effective date of commencement of participation in the Deferred Retirement Option Plan, the member's retirement benefit shall be paid into the Deferred Retirement Option Plan Account from the member's Annuity Savings Account. Wh…
La. Rev. Stat. § 11:1694 Pension reserve fund
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§1694. Pension reserve fund The pension reserve fund shall be the fund in which shall be held the reserves on all pensions in force and from which shall be paid all pensions and all benefits in lieu of annuities, payable as provided in this Chapter. Should a beneficiary retired o…
La. Rev. Stat. § 11:1695 Pension Accumulation Fund; contributions to and payments from fund; determination of normal and accrued liability contributions
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§1695. Pension Accumulation Fund; contributions to and payments from fund; determination of normal and accrued liability contributions A. The Pension Accumulation Fund shall be the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits …
La. Rev. Stat. § 11:1698 Pensions and benefits payable from accumulation fund; transfers from funds
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§1698. Pensions and benefits payable from accumulation fund; transfers from funds Upon the retirement of a member, an amount equal to his annuity savings balance shall be transferred from the Annuity Savings Fund to the Pension Reserve Fund. The difference between his pension res…
La. Rev. Stat. § 11:1700 Expense fund
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§1700. Expense fund A. The expense fund shall be the fund from which the expenses of the retirement system shall be paid, exclusive of amount payable as retirement allowances and other benefits provided therein. Contributions shall be made to the expense fund as follows. B. The b…
La. Rev. Stat. § 11:1701 Collection of member contributions; procedure
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§1701. Collection of member contributions; procedure 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 for each and every payroll period subsequent to the date of establishment of the r…
La. Rev. Stat. § 11:1702 Collection of employer contributions
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§1702. Collection of employer contributions The collection of employers' contributions, if and when assessed or required, shall be as follows: (1) Upon the basis of each actuarial valuation provided herein, the board of trustees shall annually prepare a statement of the total amo…
La. Rev. Stat. § 11:171 Submission of reports to legislature
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§171. Submission of reports to legislature A. Each actuarially funded state, municipal, parochial, or other retirement system as supported in whole or in part by public funds shall submit to the chairmen of the standing committees on retirement of the House of Representatives and…
La. Rev. Stat. § 11:172 Submission of annual report; penalty
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§172. Submission of annual report; penalty Each reporting agency or parish or city school board shall submit to their respective state, municipal, or parochial retirement system an annual sworn statement of all enrolled employees, the amount of their earnings, and all employee an…
La. Rev. Stat. § 11:173 Audit reports; certified public accountants
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§173. Audit reports; certified public accountants A. This Section shall be applicable to the following public retirement systems: (1) Louisiana State Employees' Retirement System. (2) Louisiana State Police Retirement System. (3) Louisiana School Employees' Retirement System. (4)…
La. Rev. Stat. § 11:1731 Name; date of establishment; effect of revision
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§1731. Name; date of establishment; effect of revision A. The Retirement System established as of January 1, 1955, according to Act 356 of 1954, and placed under the management of the board for the purpose of providing retirement allowances and other benefits under the provisions…
La. Rev. Stat. § 11:1732 Definitions
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§1732. Definitions The following words and phrases, as used in this Chapter, unless a different meaning is plainly required by the context, shall have the following meanings: (1) "Accumulated contributions" means the sum of all amounts deducted from a member's compensation and cr…
La. Rev. Stat. § 11:1733 Agreement for coverage of employees of incorporated cities, towns, villages, and tax
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§1733. Agreement for coverage of employees of incorporated cities, towns, villages, and tax boards or commissions A. Each incorporated city, town, or village or tax board or commission of a municipality or parish is hereby authorized to submit for board approval an agreement for …
La. Rev. Stat. § 11:1734 Agreement amendments
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§1734. Agreement amendments If an employer wishes to transfer its employees from Plan B to Plan A, then an amendment to the agreement must be executed subject to the same procedures and payments for existing accrued liability as if a new agreement had been executed, except that i…
La. Rev. Stat. § 11:1735 Exemption from execution
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§1735. Exemption from execution A. The following items are hereby exempt from any state or municipal tax and from levy and sale, garnishment, attachment, or any other process whatsoever as provided in this Chapter, except as provided in R.S. 11:292: the right of a person to a pen…
La. Rev. Stat. § 11:1736 Protection against fraud
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§1736. Protection against fraud Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this system in an attempt to defraud the system shall be guilty of a misdemeanor and, on conviction thereof by any court of …
La. Rev. Stat. § 11:1737 Correction of errors
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§1737. Correction of errors Should any change or error in the records either through administrative error or fraud result in any member or beneficiary receiving from the system more or less than he would have been entitled to receive had the records been correct, the board shall …
La. Rev. Stat. § 11:1738 Application of amendments
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§1738. Application of amendments Amendments to this Chapter which have been or may be enacted shall be applicable only to persons who, on or after the effective date thereof, are in service as participating members, unless the amendatory act specifies otherwise. Acts 1978, No. 78…
La. Rev. Stat. § 11:174 Death reports
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§174. Death reports A. By the tenth day of each month, the secretary of the Louisiana Department of Health shall send to each retirement system and pension fund enumerated in Subsection B hereof, a report, certified as correct over his signature or the signature of his authorized…
La. Rev. Stat. § 11:175 Membership information; public access
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§175. Membership information; public access A. In addition to the public records that are made accessible pursuant to the provisions of R.S. 44:16, any person of the age of majority shall be eligible to inspect, copy or reproduce, or obtain a reproduction of the following informa…
La. Rev. Stat. § 11:1751 Membership
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§1751. Membership A. The membership of this system shall be composed of all employees not specifically excluded by the provisions of this Part, as follows: (1) Effective upon the revision date all employees shall become members of this system and shall be placed in the applicable…
La. Rev. Stat. § 11:1751.1 Elected officials subject to term limits
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§1751.1. Elected officials subject to term limits A. Notwithstanding any provision of law to the contrary, an elected official who would otherwise be required to be a member of the system but who is subject to term limits which prevent him from earning the minimum number of years…
La. Rev. Stat. § 11:1751.2 Membership in lieu of participation in another retirement system
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§1751.2. Membership in lieu of participation in another retirement system Any person who is a member of the Municipal Employees' Retirement System, who has creditable membership service of at least five years in this system, and who becomes employed in a position where he is no l…
La. Rev. Stat. § 11:1752 Persons not eligible for membership; persons becoming eligible for membership in other systems
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§1752. Persons not eligible for membership; persons becoming eligible for membership in other systems A. Persons who are members of any fund or who are eligible for membership in any fund financed wholly or partly by public funds for the retirement of employees by the state of Lo…
La. Rev. Stat. § 11:1753 Membership of employees after consolidation; Terrebonne Parish; Lafayette Parish
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§1753. Membership of employees after consolidation; Terrebonne Parish; Lafayette Parish A. Notwithstanding any other provision of the law to the contrary, if the governing authorities of a parish and a municipality are consolidated into one governing authority and if the employee…
La. Rev. Stat. § 11:1754 Termination of membership
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§1754. Termination of membership An employee shall cease to be a member upon the occurrence of any of the following circumstances: (1) He resigns, is dismissed, or is otherwise separated from service. (2) He withdraws from active service with a retirement allowance granted under …
La. Rev. Stat. § 11:1755 Creditable service; service certificate; adjusted service date; repayment of withdrawn
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§1755. Creditable service; service certificate; adjusted service date; repayment of withdrawn contributions A. Benefits and allowances as provided by this Chapter shall be based on total creditable service as prescribed below: (1) Membership service: Service rendered by an employ…
La. Rev. Stat. § 11:1756 Application for benefits; commencement of benefits; payment of benefits
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§1756. Application for benefits; commencement of benefits; payment of benefits A. A member or survivor eligible for a benefit of this Chapter shall make application for such benefit to the board. B. The benefit shall commence upon the first day of the first month following withdr…
La. Rev. Stat. § 11:1757 Mode of payment options
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§1757. Mode of payment options A. Upon application for retirement any member may elect to receive his benefit in a retirement allowance payable throughout his life, or he may elect at that time to receive the actuarial equivalent of his retirement allowance in a reduced retiremen…
La. Rev. Stat. § 11:1758 Disability retirement
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§1758. 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 p…
La. Rev. Stat. § 11:1759 Return of accumulated contributions
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§1759. Return of accumulated contributions A. Subject to the restrictions contained herein, should a member not eligible to retire cease to be an employee under the provisions of this Chapter, he shall be paid the amount of his accumulated contributions upon demand. B. Should a m…
La. Rev. Stat. § 11:176 Operating budget approval
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§176. Operating budget approval A. Each state and statewide public retirement system shall submit its proposed annual operating budget to the Joint Legislative Committee on the Budget for its review. B. The operating budgets of state public retirement systems shall be subject to …
La. Rev. Stat. § 11:1760 Vesting
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§1760. Vesting A.(1) Except as provided in R.S. 11:1789.6 or 1808.6, a member who withdraws from active service on or after the revision date prior to becoming eligible for retirement, having at least ten years of creditable service, and having received no refund of his accumulat…
La. Rev. Stat. § 11:1761 Cost-of-living adjustment; nonrecurring lump-sum benefit
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§1761. Cost-of-living adjustment; nonrecurring lump-sum benefit A. The board of trustees may use interest earnings on Plan A and Plan B investments in excess of normal requirements as determined by actuarial study to provide a cost-of-living adjustment to recipients of benefits o…
La. Rev. Stat. § 11:1762 Part-time reemployment of retirees
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§1762. Part-time reemployment of retirees NOTE: Subsection A terminates June 30, 2028. See Acts 2024, No. 634. A.(1) Whenever a retiree receiving normal retirement benefits becomes reemployed by an employer but the retiree does not meet the definition of an employee and either hi…
La. Rev. Stat. § 11:1762.1 Full-time reemployment of retirees
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§1762.1. Full-time reemployment of retirees A.(1) If a retiree receiving a normal benefit becomes employed by an employer as an employee on or after July 1, 2017, the retired member's retirement benefit shall be suspended and the retired member shall be a member of the system. Up…
La. Rev. Stat. § 11:1763 Deferred Retirement Option Plan
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§1763. Deferred Retirement Option Plan A. In lieu of terminating employment and accepting a service retirement allowance pursuant to R.S. 11:1781 and 1782, or R.S. 11:1801 and 1802, or R.S. 11:1789.3 and 1789.4, or 1808.3 and 1808.4, any member of Plan A who is eligible for a nor…
La. Rev. Stat. § 11:1764 Maximum benefit
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§1764. Maximum benefit The actual retirement benefit paid to any retiree of this system at the time of retirement, whether for normal or disability retirement and whether the benefit is the full maximum allowable or reduced due to the selection of an optional mode of benefit paym…
La. Rev. Stat. § 11:1765 City councilman or alderman service for which credit has not been received
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§1765. City councilman or alderman service for which credit has not been received A. Any member of the Municipal Employees' Retirement System serving, or who has served, as a city councilman or alderman who has prior service in that office and has been precluded from purchasing c…
La. Rev. Stat. § 11:1766 Deferred survivor benefits
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§1766. Deferred survivor benefits Upon the death of any former member of this system who had credit for at least twenty years of service, who withdrew from active service prior to attaining the age required to be eligible for normal retirement benefits, and who had not withdrawn …
La. Rev. Stat. § 11:1767 Limitations on benefits
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§1767. Limitations on benefits A.(1) Notwithstanding any other provision of this system to the contrary, no member shall receive a benefit in any year in excess of the sum of the maximum employer-financed benefit and the member-financed benefit. (a) The maximum employer-financed …
