Louisiana Revised Statutes 11:921 – Creation of plan
Terms Used In Louisiana Revised Statutes 11:921
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
A. There is established an optional retirement plan for the following classes of employees covered by this Subpart who are eligible for membership in the Teachers’ Retirement System of Louisiana:
(1) The academic and administrative employees of public institutions of higher education.
(2) The employees of the Board of Regents, Board of Trustees for State Colleges and Universities, Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, and Board of Supervisors of Southern University and Agricultural and Mechanical College, or their successors, and any other constitutionally established board which manages institutions of higher education.
B. Any person covered by the provisions of Paragraph A(2) of this Section shall be required to pay the annual actuarial cost of participating in the optional retirement plan.
Acts 1989, No. 90, §1; Redesignated from La. Rev. Stat. 17:771 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1998, 1st Ex. Sess., No. 88, §1, eff. July 1, 1998.