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0 chapters · 1,663 sections in this title.
La. Rev. Stat. § 11:1768 Direct rollover of eligible rollover distributions
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§1768. Direct rollover of eligible rollover distributions A distributee may elect, at the time and in the manner prescribed by the board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct…
La. Rev. Stat. § 11:1769 Internal Revenue Code; qualification requirements
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§1769. Internal Revenue Code; qualification requirements A.(1) The assets of this system shall be held for the exclusive benefit of the employees who are or become participating members of this system and their survivors and beneficiaries, and of retirees and their survivors and …
La. Rev. Stat. § 11:1781 Eligibility for normal retirement
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§1781. Eligibility for normal retirement Any member of Plan A shall be eligible to retire if he has at least: (1) Twenty-five years of creditable service, regardless of age. (2) Ten years of creditable service, and is at least age sixty. Acts 1978, No. 788, §1; Redesignated from …
La. Rev. Stat. § 11:1781.1 Early retirement eligibility; actuarially reduced benefits
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§1781.1. Early retirement eligibility; actuarially reduced benefits A. In addition to the provisions of R.S. 11:1781, any member of Plan A shall be eligible to retire with twenty years of service credit at any age, exclusive of military service and unused annual and sick leave. H…
La. Rev. Stat. § 11:1782 Computation of normal retirement allowances; return of accumulated contributions
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§1782. Computation of normal retirement allowances; return of accumulated contributions The monthly amount of the retirement allowance for any member of Plan A shall consist of an amount equal to three percent of the member's final compensation multiplied by his years of creditab…
La. Rev. Stat. § 11:1783 Eligibility for disability retirement
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§1783. Eligibility for disability retirement A member shall be eligible to retire and receive a disability benefit if he has at least five years of creditable service, is not eligible for normal retirement, and suffers disability. Acts 1978, No. 788, §1; Redesignated from R.S. 33…
La. Rev. Stat. § 11:1784 Computation of disability benefits
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§1784. Computation of disability benefits 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 determined as follows: (1) Upon ret…
La. Rev. Stat. § 11:1785 Survivor benefits; eligibility
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§1785. Survivor benefits; eligibility A. Upon the death of any member with five or more years of creditable service, not eligible for normal retirement, the following benefits shall be paid: (1) If the member is survived by a spouse with minor children, the spouse shall be paid a…
La. Rev. Stat. § 11:1786 Employee contributions
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§1786. Employee contributions Each member of Plan A shall contribute an amount equal to a percentage of his monthly earnings from each and every payment of earnings, which contributions shall be credited to annuity savings fund A, and which percentage shall be set by the board fo…
La. Rev. Stat. § 11:1788 Optional membership
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§1788. Optional membership A. Notwithstanding any other provision of law to the contrary, any municipality which has its employees covered under Social Security and enrolled in Plan B of this system, shall have the option of becoming members of Plan A. The municipality shall noti…
La. Rev. Stat. § 11:1789 Creation; application
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§1789. Creation; application There is hereby created a subplan within Plan A of this system for persons who would otherwise be eligible for membership in the Municipal Employees' Retirement System of Louisiana Plan A but whose first employment making them eligible for membership …
La. Rev. Stat. § 11:1789.1 Application; definitions
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§1789.1. Application; definitions Terms not specifically defined in this Section shall have the meanings provided in R.S. 11:1732 unless a different meaning is clearly required by the context. For purposes of Plan A Tier 2: (1) "Final compensation" shall mean the average monthly …
La. Rev. Stat. § 11:1789.2 Eligibility for membership
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§1789.2. Eligibility for membership Each person who would be eligible for membership pursuant to R.S. 11:1751 but whose first employment making him eligible for membership in this system occurred on or after January 1, 2013, shall become a member of the MERS Plan A Tier 2 of the …
La. Rev. Stat. § 11:1789.3 Eligibility for retirement
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§1789.3. Eligibility for retirement A member of MERS Plan A Tier 2 shall be eligible for retirement if he has: (1) Seven years or more of service, at age sixty-seven or thereafter. (2) Ten years or more of service, at age sixty-two or thereafter. (3) Thirty years or more of servi…
La. Rev. Stat. § 11:1789.4 Computation of normal retirement allowances; return of accumulated contributions
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§1789.4. Computation of normal retirement allowances; return of accumulated contributions The monthly amount of the retirement allowance for any member of MERS Plan A Tier 2 shall consist of an amount equal to three percent of the member's final compensation multiplied by his yea…
La. Rev. Stat. § 11:1789.5 Employee contributions
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§1789.5. Employee contributions Each member of Plan A Tier 2 shall contribute a percentage of his earnings from each and every payment of earnings, which contributions shall be credited to Annuity Savings Fund A, and which percentage shall be set by the board for each fiscal year…
La. Rev. Stat. § 11:1789.6 Vesting
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§1789.6. Vesting A. A member of MERS Plan A Tier 2 who withdraws from active service prior to becoming eligible for retirement, who has at least seven years of creditable service, and who has received no refund of his accumulated contributions, shall receive a retirement allowanc…
La. Rev. Stat. § 11:1801 Eligibility for normal retirement
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§1801. Eligibility for normal retirement Any member of Plan B shall be eligible to retire if he has at least: (1) Thirty years of creditable service, regardless of age. (2) Ten years of creditable service, and is at least age sixty. Acts 1978, No. 788, §1; Redesignated from R.S. …
La. Rev. Stat. § 11:1802 Computation of normal retirement allowance
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§1802. Computation of normal retirement allowance The monthly amount of the retirement allowance for any member of Plan B shall consist of an amount equal to two percent of the member's final compensation multiplied by his years of creditable service, provided that: (1) Any membe…
La. Rev. Stat. § 11:1803 Eligibility for disability retirement
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§1803. Eligibility for disability retirement A member shall be eligible to retire and receive a disability benefit if he has at least ten years of creditable service, is not eligible for normal retirement, and suffers disability. Acts 1978, No. 788, §1; Redesignated from R.S. 33:…
La. Rev. Stat. § 11:1804 Computation of disability benefits
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§1804. Computation of disability benefits 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 determined as follows: (1) Upon ret…
La. Rev. Stat. § 11:1805 Survivor benefits; eligibility
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§1805. Survivor benefits; eligibility A.(1) Upon the death of any member with five or more years of creditable service, who was not eligible for normal retirement, but who is survived by a spouse, the surviving spouse shall be paid either: (a) An amount equal to thirty percent of…
La. Rev. Stat. § 11:1806 Employee contributions
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§1806. Employee contributions Each member of Plan B shall contribute an amount equal to a percentage of his monthly earnings from each and every payment of earnings, which contributions shall be credited to the Annuity Savings Fund B, and which percentage shall be set by the boar…
La. Rev. Stat. § 11:1808 Creation; application
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§1808. Creation; application There is hereby created a subplan within the retirement Plan B of this system for persons who would otherwise be eligible for membership in the Municipal Employees' Retirement System of Louisiana Plan B but whose first employment making him eligible f…
La. Rev. Stat. § 11:1808.1 Application; definitions
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§1808.1. Application; definitions Terms not specifically defined in this Section shall have the meanings provided in R.S. 11:1732 unless a different meaning is clearly required by the context. For purposes of Plan B Tier 2: (1) "Final compensation" shall mean the average monthly …
La. Rev. Stat. § 11:1808.2 Eligibility for membership
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§1808.2. Eligibility for membership Each person who would be eligible for system membership pursuant to R.S. 11:1751 but whose first employment making him eligible for membership in this system occurred on or after January 1, 2013, shall become a member of the MERS Plan B Tier 2 …
La. Rev. Stat. § 11:1808.3 Eligibility for retirement
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§1808.3. Eligibility for retirement Any member of MERS Plan B Tier 2 shall be eligible for retirement if he has: (1) Seven years or more of service, at age sixty-seven or thereafter. (2) Ten years or more of service, at age sixty-two or thereafter. (3) Thirty years or more of ser…
La. Rev. Stat. § 11:1808.4 Computation of normal retirement allowances; return of accumulated contributions
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§1808.4. Computation of normal retirement allowances; return of accumulated contributions The monthly amount of the retirement allowance for any member of MERS Plan B Tier 2 shall consist of an amount equal to two percent of the member's final compensation multiplied by his years…
La. Rev. Stat. § 11:1808.5 Employee contributions
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§1808.5. Employee contributions Each member of MERS Plan B Tier 2 shall contribute an amount equal to a percentage of his earnings from each and every payment of earnings, which contributions shall be credited to Annuity Savings Fund B, and which percentage shall be set by the bo…
La. Rev. Stat. § 11:1808.6 Vesting
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§1808.6. Vesting A.(1) A member of MERS Plan B Tier 2 who withdraws from active service prior to becoming eligible for retirement, who has at least seven years of creditable service, and who has received no refund of his accumulated contributions, shall receive a retirement allow…
La. Rev. Stat. § 11:181 Composition of governing boards of state and statewide systems; per diem and
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§181. Composition of governing boards of state and statewide systems; per diem and expenses A. Notwithstanding any other provision of law contained in any of the laws governing the state retirement systems listed in this Subsection, or any other laws to the contrary, a member of …
La. Rev. Stat. § 11:182 Boards of trustees of state and statewide public retirement systems; per diem and expenses
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§182. Boards of trustees of state and statewide public retirement systems; per diem and expenses A.(1) Notwithstanding any other provisions of law to the contrary, the members of the boards of trustees of the Louisiana State Employees' Retirement System, the Teachers' Retirement …
La. Rev. Stat. § 11:1821 Board of trustees; membership; term of office; oath of office; compensation; voting
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§1821. Board of trustees; membership; term of office; oath of office; compensation; voting power; vacancies A. The board of trustees is authorized and empowered to administer the provisions of this Chapter and to establish such rules and regulations as required for the administra…
La. Rev. Stat. § 11:1822 Board officers
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§1822. Board officers The board shall elect from its members a chairman and vice chairman to serve at the board's pleasure. They shall perform the duty designated by the board and shall serve without compensation. Acts 1978, No. 788, §1; Redesignated from R.S. 33:7312 by Acts 199…
La. Rev. Stat. § 11:1823 Board responsibilities; powers and duties
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§1823. Board responsibilities; powers and duties Each board member shall discharge his fiduciary duties solely in the interest of the system's members and beneficiaries and for the exclusive purpose of providing benefits to the members and their beneficiaries, and defraying reaso…
La. Rev. Stat. § 11:1824 Administrative director
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§1824. Administrative director The administrative director shall be in charge of the general administration of the system. He shall have such special powers and duties as may be properly delegated or assigned by the board from time to time. Such general administrative duties shal…
La. Rev. Stat. § 11:1825 Medical board
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§1825. Medical board The medical board shall be appointed by the board of trustees and shall be composed of three physicians not members of the system. The medical board shall schedule and review all medical examinations required by the provisions of this Chapter, and shall inves…
La. Rev. Stat. § 11:1826 Actuary
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§1826. Actuary A. The actuary shall be the technical advisor of the board on matters regarding the operation of the funds of the system. B. In Fiscal Year 2023-2024, and at least once every five years thereafter, the actuary shall make an actuarial investigation of the members as…
La. Rev. Stat. § 11:1827 Authorized agent; powers and duties
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§1827. Authorized agent; powers and duties The authorized agent shall be the representative of the employer for the system. It is his duty to act within the terms of the agreement between the board and the respective employer to facilitate the efficient operation of the system as…
La. Rev. Stat. § 11:183 Board members subject to Code of Governmental Ethics
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§183. Board members subject to Code of Governmental Ethics A. Any member of a state or statewide retirement system board of trustees who does not hold an office by virtue of an election conducted pursuant to the Louisiana Election Code shall be deemed a public employee for purpos…
La. Rev. Stat. § 11:184 Meetings of state and statewide retirement boards and committees
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§184. Meetings of state and statewide retirement boards and committees By December first of each calendar year, the board of trustees of each state and statewide retirement system shall submit to the House and Senate committees on retirement a proposed schedule of all board and c…
La. Rev. Stat. § 11:1841 Investment of funds by board of trustees
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§1841. Investment of funds by board of trustees A. The board of trustees shall be the trustees of the several funds created by this Chapter and shall have full power to invest and reinvest such funds in accordance with the provisions of R.S. 11:263. The trustees shall have full p…
La. Rev. Stat. § 11:1842 Board of trustees as custodian of funds
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§1842. Board of trustees as custodian of funds The board of trustees shall be the custodian of the several funds. All expense vouchers and pension payrolls shall be certified by the administrative director. The administrative director shall furnish the board of trustees a surety …
La. Rev. Stat. § 11:1843 Cash deposit for payment of benefits
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§1843. Cash deposit for payment of benefits 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 system, on deposit in one or mo…
La. Rev. Stat. § 11:1844 Selection of fiscal agents
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§1844. Selection of fiscal agents The board of trustees shall approve the fiscal agency bank or banks 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 the state. The funds of the sys…
La. Rev. Stat. § 11:1845 Private interest of trustees and employees in financial operation of system prohibited
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§1845. 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. § 11:185 Educational requirements for members of retirement system boards of trustees
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§185. Educational requirements for members of retirement system boards of trustees A. The provisions of this Section shall apply to the following state retirement systems: (1) The Louisiana State Employees' Retirement System. (2) The Teachers' Retirement System of Louisiana. (3) …
La. Rev. Stat. § 11:186 Authorization for staff to attend executive sessions
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§186. Authorization for staff to attend executive sessions A. The chairman of the House Committee on Retirement and the chairman of the Senate Committee on Retirement may each independently authorize legislative staff to attend any executive session of any board meeting or commit…
La. Rev. Stat. § 11:1861 General
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§1861. General All of the assets of the retirement system shall be credited according to the purpose for which they are held to one of eight funds, namely the annuity savings fund A, the annuity savings fund B, the annuity reserve fund A, the annuity reserve fund B, the pension a…
La. Rev. Stat. § 11:1862 Funds to which assets credited
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§1862. Funds to which assets credited A. The annuity savings funds A and B shall be the funds to which shall be credited all accumulated contributions of members of Plans A and B, respectively. From each of these funds shall be paid the refunded contributions because of withdrawa…
