Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
La. Rev. Stat. § 11:1631 Retirement benefits; application; eligibility requirements
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§1631. Retirement benefits; application; eligibility requirements A. Each member shall be paid retirement benefits according to the eligibility requirements and benefits specified in R.S. 11:1632 or R.S. 11:1633, whichever is applicable. B.(1) Any person becoming a member of the …
La. Rev. Stat. § 11:1632 Retirement eligibility; benefits at three percent
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§1632. Retirement eligibility; benefits at three percent A. Eligibility. (1) Any member who shall not have received a refund of his accumulated contributions and has ten years of creditable service prior to age fifty-five and has withdrawn from service prior to age fifty-five sha…
La. Rev. Stat. § 11:1633 Retirement eligibility; benefits at three and one-half percent
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§1633. Retirement eligibility; benefits at three and one-half percent A. Eligibility. (1) Normal Retirement Eligibility. Any member retiring under the provisions of this Section who withdraws from service shall be eligible to retire provided that the member has: (a) Attained age …
La. Rev. Stat. § 11:1634 Disability retirement
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§1634. 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. § 11:1635 Return of accumulated contributions
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§1635. Return of accumulated contributions A. Should a member cease to be an employee except by death or retirement under the provisions of this Chapter, he shall be paid such part of the amount of the accumulated contributions standing to the credit of his individual account in …
La. Rev. Stat. § 11:1636 Survivors' benefits
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§1636. Survivors' benefits A. Upon the death of any active contributing member with less than five years of creditable service, his accumulated contributions and interest thereon shall be paid to his surviving spouse if he is married, otherwise to his designated beneficiary if an…
La. Rev. Stat. § 11:1637 Optional allowances
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§1637. Optional allowances With the provisions that no optional selection shall be effective in case a beneficiary dies within thirty days after retirement, and that such a beneficiary shall be considered as an active member at the time of death; until the first payment on accoun…
La. Rev. Stat. § 11:1638 Cost-of-living increase of benefits
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§1638. Cost-of-living increase of benefits A. Six months after the end of the system's fiscal year, the board of trustees is authorized to use interest earnings on investments of the system in excess of normal requirements, as determined by the actuary, to provide a cost-of-livin…
La. Rev. Stat. § 11:1639 Repealed by Acts 2008, No
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§1639. Repealed by Acts 2008, No. 835, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:164 Part-time public officials
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§164. Part-time public officials A. Except as provided in Subsection B of this Section, the following elected or appointed officials are hereby deemed to be part-time public servants who, based on such part-time service, shall not participate in, or receive credit for service in,…
La. Rev. Stat. § 11:1640 Repealed by Acts 2008, No
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§1640. Repealed by Acts 2008, No. 835, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:1641 Repealed by Acts 2008, No
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§1641. Repealed by Acts 2008, No. 835, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:1642 Repealed by Acts 2008, No
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§1642. Repealed by Acts 2008, No. 835, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:1643 Repealed by Acts 2008, No
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§1643. Repealed by Acts 2008, No. 835, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:1644 Back-Deferred Retirement Option Program
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§1644. Back-Deferred Retirement Option Program A.(1) There is hereby created a program named the "Back-Deferred Retirement Option Program" which may be referred to in this Chapter as "Back-DROP". (2)(a) In lieu of receiving a service retirement allowance pursuant to this Chapter,…
La. Rev. Stat. § 11:1645 Excess benefit arrangement
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§1645. Excess benefit arrangement A. A separate, nonqualified, unfunded excess benefit arrangement is hereby created outside the trust fund of the retirement system. This excess benefit arrangement shall be administered as a governmental excess benefit arrangement under 26 U.S.C.…
La. Rev. Stat. § 11:1646 Reversion of funds prohibited
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§1646. Reversion of funds prohibited A. Plan assets shall not 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 returned to the employer if the cont…
La. Rev. Stat. § 11:165 Funds or benefits payable to a succession
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§165. Funds or benefits payable to a succession When funds or benefits are payable to the succession of a deceased member or retiree of a state or statewide retirement system, the retirement system shall be considered an employer for purposes of R.S. 9:1515, and the funds or bene…
La. Rev. Stat. § 11:1651 Board of trustees; membership; vacancies; compensation
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§1651. Board of trustees; membership; vacancies; compensation A. The general administration and responsibility for the proper operation of the retirement system and for making effective the provisions of this Chapter are hereby vested in a board of trustees. B. The board shall co…
La. Rev. Stat. § 11:1652 Trustees; oath of office; voting powers
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§1652. Trustees; oath of office; voting powers A. Each trustee shall, within ten days after his appointment or election, take an oath of office that, so far as it devolves upon him, he will diligently and honestly administer the affairs of the said board, and that he will not kno…
La. Rev. Stat. § 11:1653 Board of trustees; rules and regulations
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§1653. Board of trustees; rules and regulations Subject to the limitations of this Chapter, the board of trustees shall, from time to time, establish rules and regulations for the administration of the funds created by this Chapter for the transaction of its business. Added by Ac…
La. Rev. Stat. § 11:1654 Board of trustees; officers and employees; compensation
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§1654. Board of trustees; officers and employees; compensation The board of trustees shall elect from its membership a chairman and shall by a majority vote of all of its members appoint a secretary-manager, who may be, but need not be, one of its members. The board of trustees s…
La. Rev. Stat. § 11:1655 Board of trustees; duty to keep records and other information
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§1655. Board of trustees; duty to keep records and other information A. The board of trustees shall keep in convenient form such data as shall be necessary for actuarial valuation of the various funds of the retirement system and for checking the experience of the system. B. The …
La. Rev. Stat. § 11:1656 Medical board; appointment; duties and powers
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§1656. Medical board; appointment; duties and powers The board of trustees shall designate a medical board to be composed of three physicians not eligible to participate in the retirement system. If required, other physicians may be employed to report on special cases. The medica…
La. Rev. Stat. § 11:1657 Actuary; appointment; duties and powers
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§1657. Actuary; appointment; duties and powers A. The board of trustees shall designate an actuary who shall be the technical advisor of the board of trustees on matters regarding the operation of the funds created by the provisions of this Chapter, and shall perform such other d…
La. Rev. Stat. § 11:1658 Employer contributions; maintaining rates; increasing rates; reducing rate decreases
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§1658. Employer contributions; maintaining rates; increasing rates; reducing rate decreases A. Notwithstanding the provisions of R.S. 11:103 and 104, in any fiscal year the board of trustees is authorized to take any of the following actions: (1) Maintain the net direct employer …
La. Rev. Stat. § 11:1659 Funding deposit account
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§1659. Funding deposit account A.(1) There shall be established a funding deposit account for the system. The account shall be credited and charged as provided in this Section. (2) Notwithstanding any provision of law to the contrary, for any fiscal year in which the board of tru…
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. § 11:1696 REPEALED BY ACTS 1993, NO
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§1696. REPEALED BY ACTS 1993, NO. 234, §3, EFF. JUNE 1, 1993.
La. Rev. Stat. § 11:1697 REPEALED BY ACTS 1993, NO
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§1697. REPEALED BY ACTS 1993, NO. 234, §3, EFF. JUNE 1, 1993.
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. § 11:1699 REPEALED BY ACTS 1993, NO
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§1699. REPEALED BY ACTS 1993, NO. 234, §3, EFF. JUNE 1, 1993.
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…