Louisiana Revised Statutes 11:1766 – Deferred survivor benefits
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Terms Used In Louisiana Revised Statutes 11:1766
- Accumulated contributions: means the sum of all amounts deducted from a member's compensation and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:1732
- Actuarial equivalent: shall mean a benefit of equal value when computed upon the basis of such mortality and interest tables as shall be adopted by the board of trustees. See Louisiana Revised Statutes 11:1732
- Member: means a contributing employee who is covered under the provisions of this Chapter. See Louisiana Revised Statutes 11:1732
- Surviving spouse: means a legal spouse who was married to a member at the time of the member's death and for at least twelve months immediately prior thereto. See Louisiana Revised Statutes 11:1732
Upon the death of any former member of this system who had credit for at least twenty years of service, who withdrew from active service prior to attaining the age required to be eligible for normal retirement benefits, and who had not withdrawn his accumulated contributions from the system, the surviving spouse of such former member shall be eligible for survivor benefits equal to the actuarial equivalent of the Option 2 benefits that would have become payable to the surviving spouse at the time the former member would have begun receiving deferred normal retirement benefits, had the member survived until that date, elected Option 2, and died at that time.
Acts 1995, No. 687, §1, eff. July 1, 1995.