Louisiana Revised Statutes 11:879 – Pension reserve fund; description of and payments from fund
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Terms Used In Louisiana Revised Statutes 11:879
- Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of mortality tables adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:701
- Pensions: means payments for life. See Louisiana Revised Statutes 11:701
- Service: means service as a teacher within the meaning of Paragraph (33) of this Section. See Louisiana Revised Statutes 11:701
The pension reserve fund shall be the fund in which shall be held the reserves on all annuities and on all pensions granted to retirees and from which such pensions and benefits shall be paid. If a beneficiary, retired on account of disability, is restored to active service the pension reserve thereon shall be transferred from the pension reserve fund to the pension accumulation fund.
Amended by Acts 1982, No. 171, §1; Redesignated from La. Rev. Stat. 17:700 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1997, No. 812, §1, eff. July 1, 1997.