Browse 46,252 source-backed statutes, open stored provisions and move directly into source-grounded legal research.
46,252 statutes · page 27 of 2313
United States — Louisiana legislation
20 statutes shown from 46,252 source-backed records
A member who leaves employment may demand a refund of accumulated contributions, subject to a 90-day certification delay and a deduction for a service charge. If the member dies before retirement, the balance may be paid to the estate or a nominated beneficiary if no survivor benefits are payable.
If a member with under 10 years of service credit has been out of service for 5 years without asking for a refund, the retirement system must mail a notice of the member’s contribution-related rights. If the member later makes a valid refund request, the refund must be paid from the annuity savings fund.
Members may choose a lifetime retirement allowance, including a reduced option, and the system must not pay less than the member’s accumulated contributions.
This section pays survivor benefits to eligible spouses, children, or beneficiaries, sets payment shares and stopping rules, and lets the board check eligibility and suspend benefits if proof is not provided.
This section sets when survivor benefits are paid, who can receive them, and what proof or notices are required.
This section lets eligible members enter the Deferred Retirement Option Plan and sets one-time participation, timing, account, investment, and payout rules.
This section sets rules for an initial retirement benefit option, including when it must be paid, how much it can be, and how it may be paid.
This section was repealed.
A board of trustees is responsible for administering the retirement system and carrying out this Chapter.
This section sets the makeup of the board of trustees, allows the treasurer to choose any designee for the board, and sets trustee pay at $35 per day plus necessary expenses.
Each trustee must take and subscribe an oath of office within 10 days after appointment or election.
Each trustee gets one board vote, and six votes are needed for the trustees to make a decision.
The board of trustees must make rules for administering the funds and running its business, and it must prepare and submit an annual budget to the Joint Legislative Committee on the Budget.
The retirement system must comply with applicable Internal Revenue Code provisions, and the board must adopt rules to incorporate those provisions into the plan.
The board of trustees must collect certain insurance premiums from retirement benefits, transmit them to the Office of Group Benefits, and make deductions only when authorized in writing.
The board of trustees must elect a chairman from its own membership, appoint a director and assistant director by majority vote, and engage needed actuarial and other services for the retirement system.
The board of trustees must take necessary or appropriate steps to jointly administer the listed retirement systems, and must not take actions that impair the boards or funds/investments. The boards may appoint the same secretary-treasurer or secretary-manager.
The board of trustees must keep records and data for the retirement system and publish an annual financial report.
The board of trustees must appoint a medical board, and that board must handle medical examinations and disability-retirement medical review.
The board of trustees must appoint an actuary, and the actuary must advise the board and perform specified investigations, valuations, and related duties for the retirement system.
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