Louisiana Revised Statutes 11:1808.1 – Application; definitions
Terms Used In Louisiana Revised Statutes 11:1808.1
- Earnings: means the full amount of compensation earned by a member for service rendered as an employee, excluding bonuses or fees in excess of regular salary or retainer, overtime pay, or payments relative to termination of employment including but not limited to accrued sick or annual leave and severance pay. See Louisiana Revised Statutes 11:1732
- Plan B: means the revised plan to replace the regular plan, to be effective October 1, 1978, as outlined in Part IV of this Chapter. See Louisiana Revised Statutes 11:1732
Terms not specifically defined in this Section shall have the meanings provided in La. Rev. Stat. 11:1732 unless a different meaning is clearly required by the context. For purposes of Plan B Tier 2:
(1) “Final compensation” shall mean the average monthly earnings during the highest sixty consecutive months, or joined months if service was interrupted. The earnings to be considered for the thirteenth through the twenty-fourth months shall not exceed one hundred fifteen percent of the earnings for the first through the twelfth months. The earnings to be considered for the twenty-fifth through the thirty-sixth months shall not exceed one hundred fifteen percent of the earnings for the thirteenth through the twenty-fourth months. The earnings to be considered for the thirty-seventh through the forty-eighth months shall not exceed one hundred fifteen percent of the earnings for the twenty-fifth through the thirty-sixth months. The earnings to be considered for the final twelve months shall not exceed one hundred fifteen percent of the earnings of the thirty-seventh through the forty-eighth months.
(2) “Member” shall include persons who would be eligible for system membership pursuant to La. Rev. Stat. 11:1751 but whose first employment making them eligible for membership in this system occurred on or after January 1, 2013.
Acts 2012, No. 720, §1, eff. July 1, 2012.