Title 11, Consolidated Public Retirement
0 chapters · 1,796 sections in this title.
La. Rev. Stat. § 11:1977 Employer contributions
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§1977. Employer contributions Each participating employer of Plan C shall contribute an amount of each and every member's earnings equal to 5% of each and every member's earnings, of which 4.8% shall be credited to Pension Accumulation Fund C and .20% shall be credited to the exp…
La. Rev. Stat. § 11:1981 Board of trustees; membership; term of office; oath of office; compensation; voting
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§1981. 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. § 11:1982 Board officers
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§1982. 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 duties designated by the board and shall serve without compensation, except for the per diem as provided herein. Acts 1979, No. 765, …
La. Rev. Stat. § 11:1983 Board responsibilities; powers and duties
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§1983. Board responsibilities; powers and duties A. 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 re…
La. Rev. Stat. § 11:1984 Administrative director
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§1984. 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. § 11:1985 Actuary
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§1985. Actuary A. The actuary shall be the technical advisor of the board on matters regarding the operation of the funds of the system. B. Immediately after the revision date and at least once every five years thereafter, the actuary shall make an actuarial investigation of the …
La. Rev. Stat. § 11:1986 Amendment of provisions of retirement system
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§1986. Amendment of provisions of retirement system A. The provisions of the retirement system established by R.S. 11:1901 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 …
La. Rev. Stat. § 11:2 Purpose of Title
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§2. Purpose of Title The purpose of this Title is to consolidate public retirement law in order to effectively comply with the mandate of Article X, Section 29(E) of the Constitution of Louisiana to maintain public retirement systems on a sound actuarial basis. Acts 1988, No. 81,…
La. Rev. Stat. § 11:2001 Investment of funds by board of trustees
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§2001. 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. § 11:2002 Board of trustees as custodian of funds
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§2002. 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. § 11:2003 Cash deposit for payment of benefits
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§2003. 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. § 11:2004 Selection of fiscal agents
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§2004. 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. § 11:2005 Private interest of trustees and employees in financial operation of system prohibited
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§2005. 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. § 11:2006 Reversion of funds prohibited
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§2006. Reversion of funds prohibited A. At no time shall it be possible for the plan assets to 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 ret…
La. Rev. Stat. § 11:201 Repealed by Acts 2008, No
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§201. Repealed by Acts 2008, No. 784, §2, eff. July 1, 2008.
La. Rev. Stat. § 11:2011 General
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§2011. General All of the assets of the retirement system shall be credited according to the purpose for which they are held to one of twelve funds, namely the annuity savings fund A, the annuity savings fund B, the annuity savings fund C, the annuity reserve fund A, the annuity …
La. Rev. Stat. § 11:2012 Funds to which assets credited
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§2012. Funds to which assets credited A. The annuity savings funds A, B, and C shall be the funds to which shall be credited all accumulated contributions of members of Plans A, B, and C, respectively. From each of these funds shall be paid the refunded contributions because of w…
La. Rev. Stat. § 11:2013 Repealed by Acts 1997, No
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§2013. Repealed by Acts 1997, No. 867, §2, eff. July 1, 1997.
La. Rev. Stat. § 11:2014 Payment of contributions; delinquency penalty; agreement to deductions
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§2014. 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. § 11:2015 Withdrawal from regular system
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§2015. Withdrawal from regular system A. Any parish administered under a home rule charter, and any special district thereof, shall have the option, on or before January 1, 1981, to discontinue participation in the Parochial Employees' Retirement System of Louisiana. Should a par…
La. Rev. Stat. § 11:2016 Recovery of money owed system; reduction of benefits; interest
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§2016. Recovery of money owed system; reduction of benefits; interest A. Whenever any person owes money to the system, the board of trustees may recover the amount owed by reducing the benefit owed to such person by the system such that the money owed back to the system and inter…
La. Rev. Stat. § 11:202 District Attorneys' Retirement System
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§202. District Attorneys' Retirement System A member who acquires a disability, and who files for disability benefits while in service, and who upon medical examination and certification, as provided for elsewhere in this Subpart, is found to have a total disability for any cause…
La. Rev. Stat. § 11:2021 Establishment of plan
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§2021. Establishment of plan There is hereby established through this Part, but within the Parochial Employees' Retirement System of Louisiana, a separate unfunded, non-tax qualified Excess Benefit Plan entitled the Parochial Employees Excess Benefit Plan ("Excess Benefit Plan"),…
La. Rev. Stat. § 11:2022 Definitions
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§2022. Definitions As used in this Part, the following words shall have the following meanings unless a different meaning is plainly required by the context: (1) "Excess benefit" means the difference in the monthly benefit between the unrestricted benefit and the maximum benefit …
La. Rev. Stat. § 11:2023 Benefit provided
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§2023. Benefit provided A. An excess benefit participant who is receiving benefits from this retirement 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 benef…
La. Rev. Stat. § 11:2024 Contributions
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§2024. Contributions (1) This Excess Benefit Plan shall remain unfunded with respect to any member until the actuary makes a determination that the member will be an excess benefit participant during retirement. Such determination shall be made with respect to the member shortly …
La. Rev. Stat. § 11:2025 Federal Tax Qualification
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§2025. Federal Tax Qualification A. The Excess Benefit Plan, established in this Part, is intended to be an unfunded, non-tax qualified deferred compensation plan for purposes of federal tax law, and also meet the requirements of Section 415(m)(3) of the United States Internal Re…
La. Rev. Stat. § 11:203 Teachers' Retirement System
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§203. Teachers' Retirement System A. A member who acquires a disability, and who files for disability benefits while in service, and who upon medical examination and certification, as provided for elsewhere in this Subpart, is found to have a total disability for any cause, shall…
La. Rev. Stat. § 11:2031 Definitions
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§2031. 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" shall mean the sum of all the amounts deducted from the compensation of a…
La. Rev. Stat. § 11:2032 Name and date of establishment
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§2032. Name and date of establishment A. A retirement system is hereby established and placed under the management of the board of trustees for the purpose of providing retirement allowance and other benefits under the provisions of this Chapter for registrars of voters, their de…
La. Rev. Stat. § 11:2033 Exemption from execution
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§2033. Exemption from execution The right of a person to a pension, an annuity, or a retirement allowance, to the return of contributions, the pension, annuity, or retirement allowance itself, any optional benefit or any other right accrued or accruing to any person under the pro…
La. Rev. Stat. § 11:2034 Protection against fraud
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§2034. Protection against fraud Any persons who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this retirement system in any attempt to defraud such system as a result of such act shall be guilty of a misdemeanor, and …
La. Rev. Stat. § 11:2035 Limitation of membership
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§2035. Limitation of membership No other provisions of law in any other status which provides wholly or partly at the expense of the state of Louisiana for pensions or retirement benefits for employees of the several parishes or any parish of the state of Louisiana, their widows,…
La. Rev. Stat. § 11:204 School Employees' Retirement System
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§204. School Employees' Retirement System A. A member who acquires a disability, and who files for disability benefits while in service, and who upon medical examination and certification, as provided for elsewhere in this Subpart, is found to have a total disability for any caus…
La. Rev. Stat. § 11:205 Repealed by Acts 2003, No
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§205. Repealed by Acts 2003, No. 478, §1, eff. July 1, 2003.
La. Rev. Stat. § 11:2051 Membership
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§2051. Membership A. The membership of the retirement system shall be composed as follows: (1) All persons who shall become employees as defined in R.S. 11:2031(10), except those specifically excluded under R.S. 11:2052, shall become members as a condition of their employment. An…
La. Rev. Stat. § 11:2052 Persons not eligible for membership
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§2052. Persons not eligible for membership No elected or appointed official of this state or of any parish thereof who under any provisions of the constitution or laws of this state is subject to retirement with pay is eligible for membership in this system. Acts 1954, No. 215, §…
La. Rev. Stat. § 11:2053 Persons failing to elect coverage; admission to membership
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§2053. Persons failing to elect coverage; admission to membership A person whose membership in this retirement system is contingent on his own election and who elects not to become a member, may thereafter but not subsequent to the attainment of age fifty-five apply for and be ad…
La. Rev. Stat. § 11:2054 Persons temporarily employed
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§2054. Persons temporarily employed Employees who are serving on temporary basis or other than per annum basis shall be ineligible for membership in the system. Acts 1954, No. 215, §3(5); Redesignated from R.S. 18:1684 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1993, No. …
La. Rev. Stat. § 11:2055 Termination of membership
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§2055. Termination of membership Should any member in any period of six consecutive years after becoming a member be absent from service for more than five years, or should he withdraw his accumulated contributions, or should he become a beneficiary or die, he shall thereupon cea…
La. Rev. Stat. § 11:206 Registrars of Voters Employees' Retirement System
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§206. Registrars of Voters Employees' Retirement System A member who acquires a disability, and who files for disability benefits while in service, and who upon medical examination and certification, as provided for elsewhere in this Subpart, is found to have a total disability f…
La. Rev. Stat. § 11:2061 Prior service credit; determination
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§2061. Prior service credit; determination A. Under such rules and regulations as the board of trustees shall adopt any person who becomes a member of the system within the first two years of its operation, or who becomes a member under the provisions of R.S. 11:2051, Subsection …
La. Rev. Stat. § 11:2062 Verification of creditable service
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§2062. Verification of creditable service A. Subject to the above restrictions and to such other rules and regulations as the board of trustees may adopt, the board of trustees shall verify, as soon as practicable after the filing of such statements of service, the service therei…
La. Rev. Stat. § 11:2063 Service on which retirement allowances are based
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§2063. Service on which retirement allowances are based Creditable service at retirement on which the retirement allowance of a member shall be based shall consist of the membership service rendered by him since he last became a member, and also, if the member has a prior service…
La. Rev. Stat. § 11:207 Sheriffs' Pension and Relief Fund
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§207. Sheriffs' Pension and Relief Fund A. A member who acquires a disability, and who files an application for disability benefits while in service, and who upon medical examination and certification as provided for elsewhere in this Subpart, is found to have a total disability …
La. Rev. Stat. § 11:2071 Retirement benefits; application and eligibility requirements
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§2071. Retirement benefits; application and eligibility requirements A. Any member upon withdrawal from service, upon or after attainment of the age of sixty years, who shall have completed at least ten years of creditable service, or after the age of fifty-five years who shall h…
La. Rev. Stat. § 11:2072 Annual amount of retirement allowance
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§2072. Annual amount of retirement allowance A. The annual amount of the retirement allowance for persons who retired from this system on or before June 30, 1999, shall be three percent of the average compensation for each year of creditable service. B.(1) The annual amount of th…
La. Rev. Stat. § 11:2073 Cost-of-living increase
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§2073. Cost-of-living increase 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 an annual cost of living adjustment payable monthly for members retired at least two…
La. Rev. Stat. § 11:2074 Disability retirement
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§2074. 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. § 11:2075 Return of accumulated contributions
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§2075. Return of accumulated contributions If a member ceases 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 the a…