Louisiana Revised Statutes 11:1586 – Guaranty
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Terms Used In Louisiana Revised Statutes 11:1586
- Regular interest: shall mean interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with La. See Louisiana Revised Statutes 11:1581
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1581
The maintenance of annuity reserves and pension reserves as provided for, and regular interest creditable to the various funds as provided in Part VII of this Chapter, and the payment of all pensions, annuities, retirement allowance refunds and other benefits granted under the provisions of this Chapter, are hereby made obligations of the pension accumulation fund. All income, interest and dividends derived from deposits and investments authorized by this Chapter shall be used for the payment of the said obligations of the said fund.
Added by Acts 1956, No. 56, §12; Redesignated from La. Rev. Stat. 16:1006 by Acts 1991, No. 74, §3, eff. June 25, 1991.