Louisiana Revised Statutes 11:557 – Additional benefits
Terms Used In Louisiana Revised Statutes 11:557
- Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
- State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
- System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
A. Any person covered by this Subpart who becomes a member of the Louisiana State Employees’ Retirement System shall receive an additional benefit equal to one percent times the number of years of service as a judge or court officer times his average compensation.
B. Any person covered by this Subpart who has not severed employment on July 6, 2004, and who was eligible to participate in the Deferred Retirement Option Plan on March 1, 1999, who entered the plan but who did not participate in the plan for the maximum time period allowed pursuant to this Chapter may elect to resume participation in the plan. The member shall notify the system on or before December 31, 2004, of his intention to resume participation and the date on which he would like to resume participation. For a time period not longer than the portion of the maximum participation period during which the member did not participate in the plan, and beginning on the date selected by the member, the system shall treat the member in the same manner as it treats any other participant in the plan. The rights, duties, and responsibilities of the system and of the member shall be governed by the provisions of this Chapter pertaining to the Deferred Retirement Option Plan. In no event shall the total of the time period the member originally participated in the plan and the time period during which the member resumes participation exceed the statutory maximum plan participation period.
Added by Acts 1976, No. 518, §1. Acts 1983, No. 674, §1; Redesignated from La. Rev. Stat. 13:15 by Acts 1991, No. 74, §3, eff. June 25, 1991 Acts 2004, No. 727, §1, eff. July 6, 2004.