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United States — Louisiana Act or statute

United States — Louisiana legislation

RS 11:155, 1982

Certain retirement-system members, retirees, beneficiaries, and survivors cannot take their benefit as a lump sum and instead receive it as monthly benefits, subject to listed exceptions.

lump-sum paymentsmonthly benefit paymentsretirement benefits
Jurisdiction
United States — Louisiana
Structure
1 provisions
Official identity
Year 1982
Dates
Assent date not stated · Commencement date not stated · Consolidation date not stated · Effective date not stated · Enactment date not stated · Expiry date not stated · Publication date not stated · Repeal date not stated · Source version date not stated
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Dates
Assent date not stated · Commencement date not stated · Consolidation date not stated · Effective date not stated · Enactment date not stated · Expiry date not stated · Publication date not stated · Repeal date not stated · Source version date not stated

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01

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“Certain retirement-system members, retirees, beneficiaries, and survivors cannot take their benefit as a lump sum and instead receive it as monthly benefits, subject to listed exceptions.”

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RS 11:155

Certain retirement-system members, retirees, beneficiaries, and survivors cannot take their benefit as a lump sum and instead receive it as monthly benefits, subject to listed exceptions.

Section 11:155

04

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Source record from legis.la.gov · Assent date not stated · Commencement date not stated · Consolidation date not stated · Effective date not stated · Enactment date not stated · Expiry date not stated · Publication date not stated · Repeal date not stated · Source version date not stated

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Provision
§ 11:155RS 11:155Provision

Certain retirement-system members, retirees, beneficiaries, and survivors cannot take their benefit as a lump sum and instead receive it as monthly benefits, subject to listed exceptions.

§155. Receipt of benefits Notwithstanding any other provisions of law to the contrary and specifically the laws governing all public, state, municipal, or parochial retirement systems, allowing "optional allowances", no member, retiree, beneficiary, or survivor shall be entitled to receive his benefit in a lump sum, or actuarial equivalent lump sum, or a lump sum of equivalent actuarial value and shall only receive his benefit in equal monthly benefits payable throughout life or the legally allowed time if a shorter time is specified by the laws governing the specific retirement system, except as provided in R.S. 11:446, 783, 1150, or 1307. This Section shall not apply to the return of accumulated contributions without interest if a person terminates employment and requests such a refund under the laws applicable to the systems. Added by Acts 1982, No. 681, §1; Redesignated from R.S. 42:697.13 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1995, No. 1110, §1, eff. Jan. 1, 1996.
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