Louisiana Revised Statutes 11:1142 – A. Any member whose first employment making him eligible for membership in one of the state systems occurred on or before June 30, 2010, who has ten or more years of creditable servi
Terms Used In Louisiana Revised Statutes 11:1142
- Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund, together with regular interest thereon. See Louisiana Revised Statutes 11:1002
- Creditable service: means "prior service" plus "in service" plus "membership service" for which credit is allowable as provided in Part III of this Chapter. See Louisiana Revised Statutes 11:1002
- Member: means any school employee, as defined in Paragraph (13) of this Section, as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:1002
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1002
- Retirement allowance: means the sum of annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:1002
A. Any member whose first employment making him eligible for membership in one of the state systems occurred on or before June 30, 2010, who has ten or more years of creditable service, may withdraw from service and elect to leave his accumulated contributions in the system and upon reaching age sixty, he shall be eligible to receive a retirement allowance based on the credits he had at the time of his withdrawal from service.
B. Any member whose first employment making him eligible for membership in one of the state systems occurred on or after July 1, 2010, who has five or more years of creditable service, may withdraw from service and elect to leave his accumulated contributions in the system and upon reaching age sixty, he shall be eligible to receive a retirement allowance based on the credits he had at the time of his withdrawal from service.
C. Any member whose first employment making him eligible for membership in one of the state systems occurred on or after July 1, 2015, who has credit for five or more years of regular, full-time service may withdraw from service and elect to leave his accumulated contributions in the system, and upon reaching age sixty-two, he shall be eligible to receive a retirement allowance based on the credits he had at the time of his withdrawal from service.
Added by Acts 1956, No. 458, §5. Amended by Acts 1974, No. 248, §1; Redesignated from La. Rev. Stat. 17:911.1 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2014, No. 226, §1, eff. June 30, 2014; Acts 2014, No. 680, §1, eff. June 30, 2014; Acts 2019, No. 90, §1.