Louisiana Revised Statutes 11:1735 – Exemption from execution
Terms Used In Louisiana Revised Statutes 11:1735
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- board of trustees: means the board of trustees of this system. See Louisiana Revised Statutes 11:1732
- Employee: means a person including an elected official, actively employed by a participating employer on a permanent, regularly scheduled basis of at least an average of thirty-five hours per week. See Louisiana Revised Statutes 11:1732
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- retirement system: means the Municipal Employees' Retirement System of Louisiana, established as of January 1, 1955, defined in Chapter 4, Title 11 of the Louisiana Revised Statutes, and as subsequently amended. See Louisiana Revised Statutes 11:1732
A. The following items are hereby exempt from any state or municipal tax and from levy and sale, garnishment, attachment, or any other process whatsoever as provided in this Chapter, except as provided in La. Rev. Stat. 11:292: the right of a person to a pension, an annuity, or a retirement allowance, or to the return of contributions, the pension, annuity, or retirement allowance itself, any optional benefit or any other right accrued or accruing to any person, and the moneys in various funds created by this Chapter. These enumerated items shall be unassignable, except as in this Chapter specifically otherwise provided. Benefits paid under this Chapter shall be exempt from state income tax. If the contributions of an employee are paid by a municipality in order to secure credit for back service, these funds may be assigned to the municipality until such time as the employee has repaid contributions so paid or the municipality has released the contributions so paid by written notice to the board of trustees of the Municipal Employees’ Retirement System.
B. The exemptions and provisions of this Section shall apply to the Employees’ Retirement System of the city of Baton Rouge and the parish of East Baton Rouge and the Employees’ Retirement System of the city of Shreveport.
Amended by Acts 1978, No. 654, §1; Acts 1978, No. 788, §1; Acts 1986, No. 767, §5; Redesignated from La. Rev. Stat. 33:7155 by Acts 1991, No. 74, §3, eff. June 25, 1991.