AI-assisted research summary: This section defines key terms used in the Part and requires each participating city to maintain a retirement allowance fund.
PART III. ELECTIVE OFFICIALS IN MUNICIPALITIES OF 25,000 OR MORE §3861. Definitions The following words and phrases as used in this Part, unless a different meaning is plainly required by the context, shall have the following meanings: (1) "Average compensation" shall mean the average salary received for the year ended on the last day of the month immediately preceding the date of retirement; (2) "City treasurer" shall mean that officer, whether elected or appointed, of a city who bears the responsibility of receiving and disbursing of funds belonging to the city. (3) "Creditable service" shall mean service rendered as an elected official of any municipality covered by this Part, whether it be service prior or subsequent to this Part, and whether it be continuous or not; (4) "Municipality" shall mean any municipality incorporated under the laws of the state of Louisiana having a population of twenty-five thousand or over according to the last official census published by the United States Bureau of the Census. (5) "Official" shall mean any person serving in elective office of any city in the State of Louisiana covered by this Part; (6) "Retirement" shall mean withdrawal from active service in municipal office; (7) "Retirement Allowance" shall mean payments for life computed as provided in this Part and payable in monthly installments; (8) "Retirement allowance fund" shall mean a fund maintained by the city as defined in this Part, in which all funds provided by the city for retirement allowances authorized by this Part shall be maintained and from which all retirement allowances are to be paid. Each city participating in the provisions of this Part shall maintain such a fund; (9) "Retirement plan" shall mean the elective officials of municipalities of Louisiana Retirement Plan as defined in R.S. 11:3862. Acts 1958, No. 65, §1; Redesignated from R.S. 33:1791 by Acts 1991, No. 74, §3, eff. June 25, 1991.