Louisiana Revised Statutes 11:901.25 – Benefits exceeding funds allocated; reduction of benefits by board of trustees; exceptions
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Terms Used In Louisiana Revised Statutes 11:901.25
- 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
- Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
If the board of trustees of the teachers’ retirement system of Louisiana finds that during any fiscal year the total amount of the benefits provided by this Part exceeds the sum allocated or dedicated by this Part out of the state public school fund to pay the cost of the benefits provided in this Part, the board of trustees shall reduce each monthly payment authorized hereunder by a proportionate percentage.
Redesignated from La. Rev. Stat. 17:728 pursuant to La. Rev. Stat. 24:253.