Louisiana Revised Statutes 11:951.48 – Accrued liability contributions; crediting to contingency account
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Terms Used In Louisiana Revised Statutes 11:951.48
- Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
- Pension: means annual payments for life, payable in equal monthly installments, derived from money provided by the Orleans Parish School Board and other amounts accumulated in the pension accumulation account as provided for in this Part. See Louisiana Revised Statutes 11:951.1
The accrued liability contribution shall be credited to the surplus and contingency account as soon as the accumulated reserves in the pension accumulation account equals the present value as actuarially computed and approved by the board of trustees.
Redesignated from La. Rev. Stat. 17:1078 pursuant to La. Rev. Stat. 24:253.