Louisiana Revised Statutes 11:1700 – Expense fund
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Terms Used In Louisiana Revised Statutes 11:1700
- Board of Trustees: shall mean the Board provided for in Louisiana Revised Statutes 11:1581
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1581
A. The expense fund shall be the fund from which the expenses of the retirement system shall be paid, exclusive of amount payable as retirement allowances and other benefits provided therein. Contributions shall be made to the expense fund as follows.
B. The board of trustees shall determine annually the amount required to defray such expenses for the ensuing fiscal year and shall have the right to transfer the amount required to defray the cost of expenses of administration from the amount transferred from the pension accumulation fund.
Added by Acts 1956, No. 56, §8(5)(a); Redesignated from La. Rev. Stat. 16:1110 by Acts 1991, No. 74, §3, eff. June 25, 1991.