Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
La. Rev. Stat. § 11:1142 Withdrawal from service; retirement allowance
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§1142. Withdrawal from service; retirement allowance A. Any member whose first employment making him eligible for membership in one of the state systems occurred on or before June 30, 2010, who has ten or more years of creditable service, may withdraw from service and elect to le…
La. Rev. Stat. § 11:1143 Part-time employees; creditable service; benefit eligibility; computation of benefits
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§1143. Part-time employees; creditable service; benefit eligibility; computation of benefits A. Any member of the Louisiana School Employees' Retirement System who is employed on a part-time basis shall, with respect to such part-time employment, be governed by the provisions of …
La. Rev. Stat. § 11:1144 Retirement allowance; regular, minimum, and supplemental
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§1144. Retirement allowance; regular, minimum, and supplemental A. Regular allowance. Upon service retirement, a member shall receive an allowance which, with the exception of the minimum benefit, and, also, with the exception of the supplementary benefit which benefits are herei…
La. Rev. Stat. § 11:1145 Cost-of-living adjustment for retirees and beneficiaries; nonrecurring lump-sum benefit
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§1145. Cost-of-living adjustment for retirees and beneficiaries; nonrecurring lump-sum benefit In the event a cost-of-living adjustment is not payable based on the valuation for the year ending June 30, 2007, as provided in R.S. 11:242, the board may, in its discretion, authorize…
La. Rev. Stat. § 11:1145.1 Experience account
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§1145.1. Experience account A.(1) The experience account shall be credited as follows: (a) To the extent permitted by Subparagraph (c) of this Paragraph and after allocation to the amortization bases as provided in R.S. 11:102.3, an amount not to exceed fifty percent of the remai…
La. Rev. Stat. § 11:1145.2 Cost-of-living adjustment authorized
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§1145.2. Cost-of-living adjustment authorized A. The Legislature of Louisiana does hereby authorize a one-time cost-of-living adjustment for certain retirees and beneficiaries of the system. Such adjustment shall become effective July 1, 2013. Retirees and beneficiaries who meet …
La. Rev. Stat. § 11:1145.3 Cost-of-living adjustment; payable July 1, 2016
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§1145.3. Cost-of-living adjustment; payable July 1, 2016 A. Notwithstanding any provision of R.S. 11:1145.1 to the contrary, the board of trustees of the Louisiana School Employees' Retirement System may pay a cost-of-living adjustment, payable beginning July 1, 2016, to the foll…
La. Rev. Stat. § 11:1145.4 2021 minimum benefit increase; payment from experience account
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§1145.4. 2021 minimum benefit increase; payment from experience account A. A monthly minimum benefit increase shall be payable to: (1) Each retiree of the system who, on June 30, 2021, meets all of the following criteria: (a) He has thirty or more years of service credit, exclusi…
La. Rev. Stat. § 11:1145.5 Permanent benefit increase; payable beginning July 1, 2022
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§1145.5. Permanent benefit increase; payable beginning July 1, 2022 A. Notwithstanding any provision of R.S. 11:1145.1, the board of trustees of the Louisiana School Employees' Retirement System may pay a permanent benefit increase, payable beginning July 1, 2022, to the followin…
La. Rev. Stat. § 11:1145.6 Permanent benefit increase funding account
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§1145.6. Permanent benefit increase funding account A. Effective July 1, 2023, the balance in the permanent benefit increase funding account, referred to in this Section as the "PBI account", shall be zero. B.(1) The PBI account shall be credited as follows: (a) Any amount alloca…
La. Rev. Stat. § 11:1146 Supplemental benefits; appropriations
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§1146. Supplemental benefits; appropriations A. In addition to all other benefits provided by law or otherwise, and without any effect whatsoever on same, commencing January 1, 1976, the board of trustees shall provide, without any retroactive effect, from funds appropriated in a…
La. Rev. Stat. § 11:1147 Disability retirement
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§1147. 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. § 11:1148 Refund of contributions
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§1148. Refund of 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, subject to the provisions of Subsection B hereof, such part of the amount of the accumulated contributions standing to t…
La. Rev. Stat. § 11:1149 Contributions of members out of service for five years
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§1149. Contributions of members out of service for five years Whenever a member who has less than ten years of service credit has been out of service for five years without having applied for a refund of contributions, the retirement system shall transmit to him by certified mail…
La. Rev. Stat. § 11:1150 Allowances; optional allowances
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§1150. Allowances; optional allowances A. Upon application for retirement, any member may elect to receive his benefit in a retirement allowance payable throughout his life. In no case shall the system pay total benefits of less than an amount equal to the member's accumulated co…
La. Rev. Stat. § 11:1151 Survivor benefits; members hired on or before June 30, 2010
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§1151. Survivor benefits; members hired on or before June 30, 2010 A. This Section shall apply to members whose first employment making them eligible for membership in one of the state systems occurred on or before June 30, 2010. Survivor's benefits are payable upon application t…
La. Rev. Stat. § 11:1151.1 Survivor benefits; members hired on or after July 1, 2010
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§1151.1. Survivor benefits; members hired on or after July 1, 2010 A.(1) Survivor benefits shall be due and payable by the system effective the first day of the next month following the death of a member whose first employment making him eligible for membership in one of the stat…
La. Rev. Stat. § 11:1152 Deferred Retirement Option Plan
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§1152. Deferred Retirement Option Plan A. In lieu of terminating employment and accepting a service retirement allowance pursuant to this Part, any member who is eligible for regular retirement may elect to participate in the Deferred Retirement Option Plan and defer the receipt …
La. Rev. Stat. § 11:1152.1 Initial Benefit Retirement Plan
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§1152.1. Initial Benefit Retirement Plan A. If a member has not participated in the Deferred Retirement Option Plan upon attaining eligibility, as provided by the provisions of this Chapter, and if the maximum benefit or an optional benefit is chosen pursuant to R.S. 11:1150(B)(2…
La. Rev. Stat. § 11:1153 Repealed by Acts 2011, No
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§1153. Repealed by Acts 2011, No. 354, §2, eff. July 1, 2011.
La. Rev. Stat. § 11:1161 Board of trustees; administrative powers in general
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§1161. Board of trustees; administrative powers in general The general administration and responsibility for the proper operation of the retirement system and for making effective the provisions of this Chapter are vested in a board of trustees which shall be organized immediatel…
La. Rev. Stat. § 11:1162 Members of board of trustees; appointment or election; terms of office; vacancies;
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§1162. Members of board of trustees; appointment or election; terms of office; vacancies; compensation A. The board shall consist of the following trustees: (1) President of the Louisiana School Bus Operators' Association, ex officio. (2) A member of the House Committee on Retire…
La. Rev. Stat. § 11:1163 Trustees' oath of office
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§1163. Trustees' oath of office 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 board and that he will not knowingly violate or willin…
La. Rev. Stat. § 11:1164 Voting power of trustees; votes necessary for action of board
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§1164. Voting power of trustees; votes necessary for action of board Each trustee shall be entitled to one vote in the board. Six votes shall be necessary for a decision by the trustees at any meeting of the board. Redesignated from R.S. 17:934 by Acts 1991, No. 74, §3, eff. June…
La. Rev. Stat. § 11:1165 Rules and regulations, board's power to adopt
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§1165. Rules and regulations, board's power to adopt Subject to the limitations of this Part, the board of trustees shall, from time to time, establish rules and regulations for the administration of the funds created and for the transaction of its business. The board shall prepa…
La. Rev. Stat. § 11:1165.1 Compliance with Internal Revenue Code provisions
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§1165.1. Compliance with Internal Revenue Code provisions The retirement system shall take all actions necessary to comply with the provisions of the Internal Revenue Code applicable to qualified governmental retirement plans. The board shall promulgate rules in accordance with t…
La. Rev. Stat. § 11:1166 Office of Group Benefits
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§1166. Office of Group Benefits A. With respect to the Office of Group Benefits R.S. 42:801 et seq., the board of trustees shall collect applicable insurance premiums by deduction from retirement benefits relative to those retirees, or their eligible surviving spouses or children…
La. Rev. Stat. § 11:1167 Officers and employees of board of trustees
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§1167. Officers and employees of board of trustees The board of trustees shall elect from its membership a chairman and shall, by a majority vote of all its members, appoint a director and assistant director who shall not be members of the board and who shall be deemed to be empl…
La. Rev. Stat. § 11:1168 Joint administration with other systems
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§1168. Joint administration with other systems The board of trustees shall take such actions as it deems necessary or appropriate to provide for the joint administration of the retirement system and the Teachers' Retirement System of Louisiana and the Louisiana State School Lunch…
La. Rev. Stat. § 11:1169 Records and other information; board's duty to keep; financial reports
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§1169. Records and other information; board's duty to keep; financial reports 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. I…
La. Rev. Stat. § 11:1170 Medical board; appointment, duties, and powers
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§1170. 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 engaged to report on special cases. The medica…
La. Rev. Stat. § 11:1171 Actuary; appointment; duties and powers
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§1171. 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 who shall perform such othe…
La. Rev. Stat. § 11:1172 Deduction of employee benefit contributions from retiree benefit checks
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§1172. Deduction of employee benefit contributions from retiree benefit checks Notwithstanding any other provision of law to the contrary, the retiree contributions for accident and health and life insurance coverage to be paid by any retiree, beneficiary, or survivor participati…
La. Rev. Stat. § 11:1173 Amendment
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§1173. Amendment A. The provisions of the retirement system established by R.S. 11:1001 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 respect to the payment of cost-of-l…
La. Rev. Stat. § 11:1181 Investment of funds by board of trustees; limitations and restrictions; interest
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§1181. Investment of funds by board of trustees; limitations and restrictions; interest A. The board of trustees shall be the trustees of the several funds of the system and shall have full power to invest and reinvest available funds and to hold, purchase, sell, assign, transfer…
La. Rev. Stat. § 11:1182 Secretary-treasurer; custodian of funds; bond
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§1182. Secretary-treasurer; custodian of funds; bond The secretary-treasurer of the board of trustees shall be the custodian of the several funds. All payments from these funds shall be made by him or the assistant secretary-treasurer only upon vouchers signed by two persons desi…
La. Rev. Stat. § 11:1183 Cash deposits for payment of benefits; limitations on amount
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§1183. Cash deposits for payment of benefits; limitations on amount For the purpose of meeting disbursements for pensions, annuities, and other payments, cash may be kept on deposit in one or more banks or trust companies of the State of Louisiana, organized under the laws of the…
La. Rev. Stat. § 11:1184 Bond for funds on deposit
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§1184. Bond for funds on deposit The funds and properties of this retirement system held in any bank of the state shall be safeguarded by a fidelity and surety bond, the amount of which shall be determined by the board of trustees. Redesignated from R.S. 17:964 by Acts 1991, No. …
La. Rev. Stat. § 11:1185 Private interest of trustees and employees in financial operation of system prohibited
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§1185. 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 an investment made by the board of trus…
La. Rev. Stat. § 11:1191 Funds to which assets credited
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§1191. Funds to which assets credited All 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 survivors' benefit…
La. Rev. Stat. § 11:1192 Annuity savings fund; description; contributions to and payments from funds; amount of employee contributions
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§1192. Annuity savings fund; description; contributions to and payments from funds; amount of employee contributions A. The annuity savings fund is the fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Contributions …
La. Rev. Stat. § 11:1193 Pension accumulation fund; description and composition; normal and accrued liability contributions, determination
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§1193. Pension accumulation fund; description and composition; normal and accrued liability contributions, determination A. The pension accumulation fund is the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits payable from contrib…
La. Rev. Stat. § 11:1194 Annual amounts payable to pension accumulation fund
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§1194. Annual amounts payable to pension accumulation fund The total amount payable in each year to the pension accumulation fund shall be not less than the sum of the rate per centum known as the normal contribution rate and the accrued liability contribution rate of the total c…
La. Rev. Stat. § 11:1195 Accrued liability contributions, discontinuance
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§1195. Accrued liability contributions, discontinuance The accrued liability contribution shall be discontinued as soon as the accumulated reserve in the pension accumulation fund equals the present value, as actuarially computed and approved by the board of trustees, of the tota…
La. Rev. Stat. § 11:1195.1 Unfunded accrued liability; payment by employer
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§1195.1. Unfunded accrued liability; payment by employer A. Notwithstanding any other provision of law, if an employer terminates a group of employees belonging to this system by eliminating the positions held by those employees through privatizing, outsourcing, contracting the s…
La. Rev. Stat. § 11:1195.2 Unfunded accrued liability; payment by employer; any position
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§1195.2. Unfunded accrued liability; payment by employer; any position A. Notwithstanding any other provision of law, if an employer eliminates any position through privatizing, outsourcing, contracting the service with a private employer, or any other means, then the employer sh…
La. Rev. Stat. § 11:1196 Normal and accrued liability contributions payable by state, determination; certification to governor of amounts needed
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§1196. Normal and accrued liability contributions payable by state, determination; certification to governor of amounts needed A. The amount payable annually by the State of Louisiana on account of normal and accrued liability contributions shall be determined by applying the emp…
La. Rev. Stat. § 11:1197 Pension reserve fund; description; payment from fund
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§1197. Pension reserve fund; description; payment from fund The pension reserve fund is the fund in which shall be held the reserves on all pensions granted to members and from which such pensions and annuities in lieu thereof shall be paid. Should such a beneficiary retired on a…
La. Rev. Stat. § 11:1198 Survivors' benefit fund
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§1198. Survivors' benefit fund A. The survivors' benefit fund shall be credited as follows: (1) The accumulated contributions (annuity savings) of a member who dies in service having survivors eligible for a benefit. (2) An amount to be determined by the actuary, based on the lat…
La. Rev. Stat. § 11:1199 Expense fund
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§1199. Expense fund The expense fund is the fund from which the expenses of the administration of the retirement system shall be paid, exclusive of amount payable as retirement allowances or other benefits provided in this Chapter. The board of trustees shall determine annually t…