Louisiana Revised Statutes 11:1521 – Regular retirement benefits
Terms Used In Louisiana Revised Statutes 11:1521
- Board: means the board of trustees of the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
- Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fund: means the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
- Monthly average final compensation: means the average of a member's monthly salary during the highest compensated sixty consecutive months or successive joined months if service was interrupted. See Louisiana Revised Statutes 11:1503
A.(1) A member or former member hired on or before December 31, 2010, shall be eligible for regular retirement benefits if he has twelve or more years of credited service, he has attained the age of fifty-five years or more, and he has terminated his employment.
(2) A member or former member hired on or after January 1, 2011, shall be eligible for regular retirement benefits if he has twelve or more years of credited service, he has attained the age of sixty years or more, and he has terminated his employment.
B. A member or former member eligible for regular retirement benefits who desires to receive same shall make application for such to the board. The application shall provide complete evidence of service, age, date of termination of employment, and any other information required by the board. The clerk of court for whom the member or former member is or was employed shall certify the accuracy of all information contained in the application and shall forward same to the secretary of the fund.
C.(1) If the board concludes that an applicant hired on or before December 31, 2010, is eligible for regular retirement benefits, he shall be paid monthly regular retirement benefits equal to the following rates:
(a) Three percent of his monthly average final compensation, multiplied by the number of years of service credit accrued on and before June 30, 1999.
(b) Three and one-third percent of his monthly average final compensation, multiplied by the number of years of service credit accrued on and after July 1, 1999.
(2) If the board concludes that an applicant hired on or after January 1, 2011, is eligible for regular retirement benefits, he shall be paid monthly regular retirement benefits equal to three percent of his monthly average final compensation, multiplied by the number of years of service credit accrued.
(3) Monthly regular retirement benefits as provided in this Subsection shall not exceed one hundred percent of the applicant’s monthly average final compensation.
Acts 1986, No. 1063, §1, eff. Oct. 1, 1986; Redesignated from La. Rev. Stat. 13:942 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1999, No. 211, §1, eff. July 1, 1999; Acts 2010, No. 101, §1, eff. Jan. 1, 2011.