Louisiana Revised Statutes 11:952.4 – False statements or falsification of records; penalty; errors
Terms Used In Louisiana Revised Statutes 11:952.4
- Actuarial equivalent: means a benefit of equal value, when computed upon the basis of mortality tables adopted by the board of supervisors and regular interest. See Louisiana Revised Statutes 11:952.1
- 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: means any person in receipt of a retirement allowance or other benefit provided for in this part. See Louisiana Revised Statutes 11:952.1
- Board of supervisors: means the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
- Member: means any employee included in the membership of the funded system as provided in La. See Louisiana Revised Statutes 11:952.1
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this part. See Louisiana Revised Statutes 11:952.1
- Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
A. Any person who knowingly makes any false statement or falsifies or permits to be falsified any record or records of this funded retirement system in any attempt to defraud such system shall be fined not more than five hundred dollars, or imprisoned for not more than twelve months, or both.
B. Should any change or error in the records result in any member or beneficiary receiving from the funded retirement system more or less than he would have been entitled to receive had the records been correct, the board of supervisors shall correct such error, and as far as possible, shall adjust the payment in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid.
Added by Acts 1971, No. 26, §1. Redesignated from La. Rev. Stat. 17:1614 pursuant to La. Rev. Stat. 24:253.