Louisiana Revised Statutes 11:2266 – Protection against fraud
Terms Used In Louisiana Revised Statutes 11:2266
- Actuarial equivalent: shall mean the amount required to fund the member's annuity based upon the calculations of the actuary on the basis of mortality tables approved by the board of trustees and regular interest at a rate fixed by the board of trustees. See Louisiana Revised Statutes 11:2252
- 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: shall mean any natural or juridical person or estate administrator designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Chapter. See Louisiana Revised Statutes 11:2252
- Board of trustees: shall mean the board provided for in La. See Louisiana Revised Statutes 11:2252
- 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.
- 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 11:2252
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2252
A. It shall be a misdemeanor offense punishable by a fine not to exceed one thousand dollars, or imprisonment in the parish jail for a period not to exceed twelve months, or both, for any person who knowingly commits any of the following acts:
(1) Makes any false statement or who falsifies or permits to be falsified any record or records of this retirement system in an attempt to defraud this system as a result thereof.
(2) Fails to provide full and complete medical evidence of present physical condition or of any preexisting medical conditions upon application for membership in this system or upon submission of a claim for disability benefits.
B.(1) Should any change or error in the records result in a member or beneficiary receiving benefits in an amount equal to more or less than he would have been entitled to receive from this system if the records had been correct, the board of trustees shall correct such error, and as far as practicable, shall adjust the payment of benefits in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled to receive shall be paid.
(2) In the event that a benefit is paid for which the system was not obligated by law to pay, the system may cause the benefits that are being received by the erroneously paid party or any third party that is receiving benefits, or both, to be reduced by an amount equal to the sum of the erroneously paid benefit, provided that a connection can be established between the party or parties whose benefits are reduced and the member whose membership in the system gave rise to the erroneously paid benefit.
Added by Acts 1979, No. 434, §1; Redesignated from La. Rev. Stat. 33:2162 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1999, No. 53, §1.