Louisiana Revised Statutes 11:832 – Records and other information; board’s duty to keep
Terms Used In Louisiana Revised Statutes 11:832
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
- Retirement system: means the Teachers' Retirement System of Louisiana as defined in Louisiana Revised Statutes 11:701
A. The board of trustees shall keep in convenient form such data as shall be necessary for actuarial valuation of the various funds of the retirement system, and for checking the experience of the system.
B. The board of trustees shall keep a record of all of its proceedings which shall be open to public inspection. It shall publish annually a report showing the fiscal transactions of the retirement system for the preceding school year, the amount of the accumulated cash and securities of the system, and the last balance sheet showing the financial condition of the system by means of an actuarial valuation of the assets and liabilities of the retirement system.
Redesignated from La. Rev. Stat. 17:657 by Acts 1991, No. 74, §3, eff. June 25, 1991.