Louisiana Revised Statutes 11:2071 – Retirement benefits; application and eligibility requirements
Terms Used In Louisiana Revised Statutes 11:2071
- Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:2031
- Creditable service: shall mean service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:2031
- Member: shall include any employee, as defined in Paragraph (10) of this Section, included in the membership of this system as provided in La. See Louisiana Revised Statutes 11:2031
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2031
- Retirement allowance: shall mean the sum of the annuity and the pensions, or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:2031
- Service: shall mean service rendered as an employee as described in Paragraph (10) of this Section. See Louisiana Revised Statutes 11:2031
A. Any member upon withdrawal from service, upon or after attainment of the age of sixty years, who shall have completed at least ten years of creditable service, or after the age of fifty-five years who shall have completed at least twenty years of creditable service, or who shall have thirty years of creditable service, regardless of age shall be entitled to receive a retirement allowance which shall begin as of the date specified by the member in his application for the said allowance but in no event before withdrawal from service.
B. Any member whose withdrawal from service occurs prior to his attaining the age of sixty years, who shall have completed more than ten years of creditable service and shall not have received a refund of his accumulated contributions shall be entitled to receive a retirement allowance beginning upon his attaining the age of sixty years of the amount earned and accrued at the date of withdrawal from service; provided that such benefits shall begin at age fifty-five if he has twenty or more years of creditable service.
Acts 1954, No. 215, §5(1). Amended by Acts 1969, No. 88, §1; Acts 1971, No. 79, §1; Acts 1974, No. 388, §1; Acts 1989, No. 202, §1; Redesignated from La. Rev. Stat. 18:1731 by Acts 1991, No. 74, §3, eff. June 25, 1991.