Louisiana Revised Statutes 11:1612 – Employees of Louisiana District Attorneys’ Association; prior service credit
Terms Used In Louisiana Revised Statutes 11:1612
- 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.
- Annuity: shall mean payments for life derived from the "accumulated contributions" of a member. See Louisiana Revised Statutes 11:1581
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board of Trustees: shall mean the Board provided for in La. See Louisiana Revised Statutes 11:1581
- Employee: shall mean any district attorney of the state of Louisiana, or any assistant district attorney in any parish of the state of Louisiana. See Louisiana Revised Statutes 11:1581
- Employer: shall mean any parish in the state of Louisiana; the state of Louisiana, or the police jury or any other governing body of a parish or political corporation or subdivision of the state of Louisiana which employs and pays persons as district attorneys or assistant district attorneys. See Louisiana Revised Statutes 11:1581
- Member: shall include any employee, as defined in Paragraph (10) of this Section, included in the membership of this system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:1581
- Prior service: shall mean service rendered prior to the date of the establishment of this retirement system for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:1581
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1581
- Service: shall mean service rendered as an employee as described in Paragraph (10) of this Section. See Louisiana Revised Statutes 11:1581
A. Any employee of the Louisiana District Attorneys’ Association shall be eligible to receive prior service credit for all service rendered as such an employee prior to the date as of which such employees become eligible to be included in the membership of this system. In order to obtain such credit, any such employee, prior to the date of application for retirement, shall make application to the board of trustees for such credit and shall furnish a detailed statement of all service for which credit is claimed in such form as the board may require. In addition, each such employee shall pay into the system an amount equal to the employee and employer contributions which would have been made had the employee been a member during the period for which credit is claimed, plus five percent compound interest per annum thereon from date of service until paid.
B. The system shall accept as the member’s payment of amounts payable by the member under this Section any assets held in an individual retirement account or annuity or a plan qualified under 26 U.S.C. § 401(a) or under 26 U.S.C. § 403(a), a governmental deferred compensation arrangement subject to 26 U.S.C. § 457(g), or a tax sheltered annuity or other arrangement under 26 U.S.C. § 403(b).
Added by Acts 1975, No. 745, §4; Redesignated from La. Rev. Stat. 16:1031.1 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2012, No. 523, §1, eff. Jan. 1, 2013.