Louisiana Revised Statutes 11:951.4 – False statements; falsification of records; penalty; correction of errors
Terms Used In Louisiana Revised Statutes 11:951.4
- Actuarial equivalent: means a benefit of equal value when computed upon the basis of the mortality tables adopted by the board of trustees plus regular interest. See Louisiana Revised Statutes 11:951.1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person in receipt of a pension, an annuity, a retirement allowance or other benefits provided for in this Part. See Louisiana Revised Statutes 11:951.1
- Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
- Participant: means any employee who is entitled to the beneficial provisions of this retirement system. See Louisiana Revised Statutes 11:951.1
- Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
- Retirement system: means the corporation known as the Orleans Parish School Employees' Retirement System established in La. See Louisiana Revised Statutes 11:951.1
A. Whoever wilfully makes any false statement or falsifies or permits to be falsified any record of this retirement system in any attempt to defraud, shall be fined not less than one hundred dollars nor more than five hundred dollars, or imprisoned for not less than thirty days nor more than six months, or both.
B. Should any change or error in the records result in any participant or beneficiary receiving from this retirement system more or less than he would have been entitled to receive had the records been correct, the board of trustees shall correct such error, and as far as practicable, shall adjust the payment in such a manner that the actuarial equivalent of the benefit to which such participant or beneficiary was correctly entitled shall be paid.
Redesignated from La. Rev. Stat. 17:1014 pursuant to La. Rev. Stat. 24:253.