Louisiana Revised Statutes 11:2256.1 – Removal of former spouse as beneficiary; restoration of benefits
Terms Used In Louisiana Revised Statutes 11:2256.1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: shall mean any natural or juridical person or estate administrator designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Chapter. See Louisiana Revised Statutes 11:2252
A. Notwithstanding any other provision of law to the contrary, any retiree may remove a former spouse as a beneficiary of any benefits paid or payable to the former spouse from this system, provided the former spouse consents to such removal and the consent is evidenced by a certified court order issued in connection with a divorce proceeding relative to the retiree and former spouse.
B. The benefit payable to any retiree who provides for removal of a former spouse as a beneficiary pursuant to Subsection A of this Section shall be restored to the maximum amount payable under La. Rev. Stat. 11:2256(A)(4), less any reduction required to account for the time that the former spouse was a beneficiary.
C. The phrase “benefits paid or payable” as used in this Section shall include but not be limited to benefits provided for in La. Rev. Stat. 11:2256, 2257, and 2258 and any death benefit accrued to the former spouse as part of the former community property regime.
Acts 2007, No. 143, §1, eff. June 25, 2007; Acts 2014, No. 504, §1, eff. June 5, 2014.