Louisiana Revised Statutes 11:895 – Overpayment of employer contributions
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Terms Used In Louisiana Revised Statutes 11:895
- Employer: means the state of Louisiana, any city, parish, or other local school board, the State Board of Elementary and Secondary Education, any board created by La. See Louisiana Revised Statutes 11:701
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
- Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
The Teachers’ Retirement System of Louisiana is authorized to apply any overpayment of employer contributions made during a fiscal year to any months in which there are employer contributions due the retirement system. Those months due for the longest period of time shall be paid first. When all employer contributions are paid up to date, any remaining overpayment shall be used to pay any interest due the retirement system as authorized by La. Rev. Stat. 11:281. The interest on those months due for the longest period of time shall be paid first.
Acts 1990, No. 631, §1, eff. July 1, 1990; Redesignated from La. Rev. Stat. 17:703.5 by Acts 1991, No. 74, §3, eff. June 25, 1991.