Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle III > Chapter 9 - Firefighters' Retirement System

• Accrued liability: shall mean the entry age normal accrued liability. See Louisiana Revised Statutes 11:2252
• Accumulated contributions: shall mean the sum of all the amounts deducted from the earnable compensation of a member and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:2252
• Actuarial assumptions: shall mean the calculations used by an actuary engaged annually by the board to calculate the amounts necessary to fund the members' annuities. See Louisiana Revised Statutes 11:2252
• Actuarial equivalent: shall mean the amount required to fund the member's annuity based upon the calculations of the actuary on the basis of mortality tables approved by the board of trustees and regular interest at a rate fixed by the board of trustees. See Louisiana Revised Statutes 11:2252
• Annuity reserve: shall mean the present value of all payments to be made on account of any annuity, or benefit in lieu of any annuity, computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:2252
• Average final compensation: shall mean the average annual earned compensation of an employee for any period of thirty-six successive or joined months of service as an employee during which the said earned compensation was the highest. See Louisiana Revised Statutes 11:2252
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Beneficiary: shall mean any natural or juridical person or estate administrator designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Chapter. See Louisiana Revised Statutes 11:2252
• Board of trustees: shall mean the board provided for in Louisiana Revised Statutes 11:2252
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Creditable service: shall mean service for which credit is allowable as provided in Louisiana Revised Statutes 11:2252
• Director: shall mean the executive director of the Firefighters' Retirement System. See Louisiana Revised Statutes 11:2252
• Earnable compensation: shall mean the full amount of compensation earned by an employee on a regular tour of duty, including supplemental pay paid by the state of Louisiana, educational incentive pay, holiday pay, seniority incentive pay, and pay to an employee acting in a civil service classification higher than the one he holds, but shall not include overtime. See Louisiana Revised Statutes 11:2252
• Employee: shall mean any full-time firefighter or any person in a position as defined in the municipal fire and police civil service system who is employed by a fire department of any municipality, parish, or fire protection district of the state of Louisiana, excepting Orleans and Lafayette Parishes, and who is earning at least three hundred seventy-five dollars per month excluding state supplemental pay. See Louisiana Revised Statutes 11:2252
• Employer: shall mean any municipality, parish, or fire protection district in the state of Louisiana, excepting Orleans and Lafayette Parishes, which employs a full-time fireman, and the Firefighters' Retirement System. See Louisiana Revised Statutes 11:2252
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• Juror: A person who is on the jury.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Legatee: A beneficiary of a decedent
• Member: shall include any employee, as defined in Paragraph (10) of this Section, included in the membership of this system as provided in Louisiana Revised Statutes 11:2252
• Membership service: shall mean service as an employee or elected official while a member of this system. See Louisiana Revised Statutes 11:2252
• Overtime: shall mean the additional hours worked above the regular tour of duty required by the local governing authority for which the member works and the compensation therefor. See Louisiana Revised Statutes 11:2252
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2252
• Retirement allowance: shall mean any benefit paid to a member under Louisiana Revised Statutes 11:2252
• Retirement system: shall mean the Firefighters' Retirement System as established in Louisiana Revised Statutes 11:2252
• Service: shall mean service rendered as an employee as described in Paragraph (10) of this Section. See Louisiana Revised Statutes 11:2252
• Trustee: A person or institution holding and administering property in trust.
• years of service: shall mean the number of twelve-month periods a member has which are creditable toward receiving retirement benefits from the retirement system. See Louisiana Revised Statutes 11:2252