Louisiana Revised Statutes 11:2131 – Funds to which assets credited
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Terms Used In Louisiana Revised Statutes 11:2131
- 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 11:2031
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Member: shall include any employee, as defined in Paragraph (10) of this Section, included in the membership of this system as provided in La. See Louisiana Revised Statutes 11:2031
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2031
All of the assets of the retirement system shall be credited according to the purpose for which they are held to one of five funds, namely, the annuity savings fund, the annuity reserve fund, the pension accumulation fund, the member supplemental savings fund, and the expense fund.
Acts 1954, No. 215, §8 (1st par.); Acts 1990, No. 433, §1, eff. Jan. 1, 1991; Redesignated from La. Rev. Stat. 18:1831 by Acts 1991, No. 74, §3, eff. June 25, 1991.