Louisiana Revised Statutes 11:1759 – A. Subject to the restrictions contained herein, should a member not eligible to retire cease to be an employee under the provisions of this Chapter, he shall be paid the amount of h
Terms Used In Louisiana Revised Statutes 11:1759
- Accumulated contributions: means the sum of all amounts deducted from a member's compensation and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:1732
- Employee: means a person including an elected official, actively employed by a participating employer on a permanent, regularly scheduled basis of at least an average of thirty-five hours per week. See Louisiana Revised Statutes 11:1732
- Member: means a contributing employee who is covered under the provisions of this Chapter. See Louisiana Revised Statutes 11:1732
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. Subject to the restrictions contained herein, should a member not eligible to retire cease to be an employee under the provisions of this Chapter, he shall be paid the amount of his accumulated contributions upon demand.
B. Should a member die before retirement and not leave survivors eligible for benefits herein, the amount of his accumulated contributions shall be paid to his estate or to such person as he shall have nominated by written designation, duly executed and filed with the board.
C. Should the survivor of a member eligible for any benefit under this Chapter desire a refund of the member’s contributions in lieu of such benefit, he shall receive such refund by notifying the board in writing, and executing a waiver of all benefits provided herein.
D. However, refunds of accumulated contributions shall not be required to be made to the member or to his estate until and unless the member has been terminated from a participating municipality for thirty days and until all contributions for said member have been submitted by the member’s employer.
Acts 1983, No. 648, §1; Acts 1990, No. 48, §1; Redesignated from La. Rev. Stat. 33:7198 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2020, No. 31, §1, eff. June 30, 2020.