Louisiana Revised Statutes 11:2143 – Guarantee of payments
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Terms Used In Louisiana Revised Statutes 11:2143
- Regular interest: shall mean interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with Louisiana Revised Statutes 11:2031
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2031
The maintenance of annuity reserves and pension reserves as provided for, and regular interest creditable to the various funds as provided in this Part, and the payment of all pensions, annuities, retirement allowance refunds and other benefits granted under the provisions of this Chapter, are hereby made obligations of the pension accumulation fund. All income, interest and dividends derived from deposits and investments authorized by this Chapter shall be used for the payment of the said obligations of the said fund.
Acts 1954, No. 215, §12; Redesignated from La. Rev. Stat. 18:1843 by Acts 1991, No. 74, §3, eff. June 25, 1991.