Louisiana Revised Statutes 11:1702 – Collection of employer contributions
Terms Used In Louisiana Revised Statutes 11:1702
- Board of Trustees: shall mean the Board provided for in La. See Louisiana Revised Statutes 11:1581
- Employer: shall mean any parish in the state of Louisiana; the state of Louisiana, or the police jury or any other governing body of a parish or political corporation or subdivision of the state of Louisiana which employs and pays persons as district attorneys or assistant district attorneys. See Louisiana Revised Statutes 11:1581
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
The collection of employers’ contributions, if and when assessed or required, shall be as follows:
(1) Upon the basis of each actuarial valuation provided herein, the board of trustees shall annually prepare a statement of the total amount necessary for the ensuing fiscal year to the pension accumulation and expense funds as provided under La. Rev. Stat. 11:1695 through 1698 and La. Rev. Stat. 11:1700 and also a statement of the amount to be contributed by each employer (if any) as provided for in La. Rev. Stat. 11:1695(A)(1).
(2) During the months of January and July of each year, the treasurer, or other officer, authorized to issue warrants of each employer on authority from the employer shall transmit the amount payable for the employer’s contribution for the preceding six months to the secretary-manager of the board of trustees. After making a record of all such receipts, the secretary-manager shall deposit them in a bank selected by and approved by the board of trustees for use according to the provisions of this law.
Added by Acts 1956, No. 56, §8(6)(2); Redesignated from La. Rev. Stat. 16:1112 by Acts 1991, No. 74, §3, eff. June 25, 1991.