Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
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. § 11:1807 Repealed by Acts 2014, No
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§1807. Repealed by Acts 2014, No. 142, §2, eff. May 22, 2014.
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…
La. Rev. Stat. § 11:1863 Repealed by Acts 2014, No
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§1863. Repealed by Acts 2014, No. 142, §2, eff. May 22, 2014.
La. Rev. Stat. § 11:1864 Payment of contributions; delinquency penalty; agreement to deductions
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§1864. Payment of contributions; delinquency penalty; agreement to deductions A. Each participating employer shall pay into the appropriate fund, with respect to earnings, at such time or times as the board may by regulation prescribe, contributions in the amounts and at the rate…
La. Rev. Stat. § 11:1865 Employee contributions; city of Monroe
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§1865. Employee contributions; city of Monroe Notwithstanding the provisions of R.S. 11:1786, 1806, and 1864, or any other law to the contrary, the city of Monroe, at its discretion, is authorized to pay to the system, from its own funds, the employee contributions referenced in …
La. Rev. Stat. § 11:1866 Employee contributions; city of Port Allen
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§1866. Employee contributions; city of Port Allen Notwithstanding the provisions of R.S. 11:1786, 1806, and 1864, or any other law to the contrary, the city of Port Allen, at its discretion, is authorized to pay to the system, from its own funds, the employee contributions refere…
La. Rev. Stat. § 11:1867 Employee contributions; city of Kenner
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§1867. Employee contributions; city of Kenner Notwithstanding the provisions of R.S. 11:1786, 1806, and 1864, or any other law to the contrary, the city of Kenner, at its discretion, is authorized to pay to the system, from its own funds, the employee contributions referenced in …
La. Rev. Stat. § 11:1868 Employee contributions; city of Slidell
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§1868. Employee contributions; city of Slidell Notwithstanding the provisions of R.S. 11:1786, 1806, and 1864, or any other law to the contrary, the city of Slidell, at its discretion, is authorized to pay to the system, from its own funds, the employee contributions referenced i…
La. Rev. Stat. § 11:1869 Employee contributions; city of Mandeville
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§1869. Employee contributions; city of Mandeville Notwithstanding any provision of law to the contrary, the city of Mandeville, at its discretion, may pay to the system, from its own funds, all or a portion of the employee contributions referenced in this Chapter and take appropr…
La. Rev. Stat. § 11:1881 Establishment of plan
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§1881. Establishment of plan There is hereby created a separate, unfunded, nonqualified 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 Un…
La. Rev. Stat. § 11:1882 Definitions
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§1882. Definitions A. "Excess benefit participant" means any member whose retirement benefit as determined on the basis of all qualified plans of the employer without regard to the limitations of R.S. 11:1767 and comparable provisions of other qualified plans of the employer woul…
La. Rev. Stat. § 11:1883 Benefit provided
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§1883. Benefit provided A. An excess benefit participant who is receiving benefits from this system is entitled to a monthly benefit under this excess benefit plan in an amount equal to the lesser of either: (1) The member's unrestricted benefit, less the maximum benefit. (2) The…
La. Rev. Stat. § 11:1884 Contributions
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§1884. 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 system shall be reduced by the amount determined by the boa…
La. Rev. Stat. § 11:1901 Name; date of establishment; effect of revision
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§1901. Name; date of establishment; effect of revision A. The retirement system established as of January 1, 1953, according to Act 205 of 1952, and as subsequently amended, and placed under the management of the board for the purpose of providing retirement allowances and other …
La. Rev. Stat. § 11:1902 Definitions
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§1902. Definitions As used in this Chapter, the following words and phrases shall have the following meanings, unless a different meaning is plainly required by context: (1) "Accumulated contributions" means the sum of all amounts deducted from a member's compensation and credite…
La. Rev. Stat. § 11:1903 Admission of certain entities as employers
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§1903. Admission of certain entities as employers A. The following entities may submit, for approval by the board of trustees, a plan for extending the benefits of this Chapter to employees of the entity: (1) Any taxing district in or any branch or section of a parish that qualif…
La. Rev. Stat. § 11:1903.1 Louisiana School Boards Association
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§1903.1. Louisiana School Boards Association A. If an employee of the Louisiana School Boards Association separates from service and at the time of such separation is enrolled in this system because of the employee's employment with the Louisiana School Boards Association, the Lo…
La. Rev. Stat. § 11:1904 Agreement amendments
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§1904. Agreement amendments If an employer wishes to transfer its employees from Plan B or Plan C 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. Act…
La. Rev. Stat. § 11:1905 Exemption from execution
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§1905. Exemption from execution 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 pensio…
La. Rev. Stat. § 11:1906 Protection against fraud
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§1906. 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 …