United States — Louisiana Act or statute

United States — Louisiana legislation

RS 11:1194

Annual payments to the pension accumulation fund must meet a minimum contribution formula, and the State of Louisiana’s payment must be sufficient to cover current-year benefits.

pension fund contributions

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“Annual payments to the pension accumulation fund must meet a minimum contribution formula, and the State of Louisiana’s payment must be sufficient to cover current-year benefits.”

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RS 11:1194

Annual payments to the pension accumulation fund must meet a minimum contribution formula, and the State of Louisiana’s payment must be sufficient to cover current-year benefits.

Section 11:1194

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§ 11:1194RS 11:1194Provision

Annual payments to the pension accumulation fund must meet a minimum contribution formula, and the State of Louisiana’s payment must be sufficient to cover current-year benefits.

§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 compensation earnable by all members during the preceding year; provided that the amount of each annual accrued liability contribution shall be at least three per cent greater than the preceding annual accrued liability payment, and that the payment by the State of Louisiana shall be sufficient, when combined with the amount in the fund, to provide the pension and other benefits payable out of the fund during the year then current. Redesignated from R.S. 17:985 by Acts 1991, No. 74, §3, eff. June 25, 1991.
Section 11:1194Verify source

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