Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 2 > Part XI > Subpart D - Benefits

• Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member and credited to his individual account. See Louisiana Revised Statutes 11:952.1
• average compensation: means his average earnable compensation for the five highest successive years of employment, or the highest five successive joined years where interruption of service occurred. See Louisiana Revised Statutes 11:701
• Average regular compensation: means the average annual rate of regular compensation of a member for any period of thirty-six successive months ending with full month's pay of service as an employee during which said earned compensation was the highest. See Louisiana Revised Statutes 11:952.1
• 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 retirement allowance or other benefit provided for in this part. See Louisiana Revised Statutes 11:952.1
• Board of supervisors: means the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
• Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
• Contract: A legal written agreement that becomes binding when signed.
• Creditable service: means "Prior Service" plus "Membership Service" for which credit is allowable as provided in Part III of this Chapter. See Louisiana Revised Statutes 11:701
• Credited service: means service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:952.1
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Employee: means a person employed in any classification of University employees other than a student, and the word "student" includes a graduate assistant, medical intern, and medical resident. See Louisiana Revised Statutes 11:952.1
• Employer: means the state of Louisiana, any city, parish, or other local school board, the State Board of Elementary and Secondary Education, any board created by La. See Louisiana Revised Statutes 11:701
• funded system: means the funded Louisiana State University and Agricultural and Mechanical College Retirement System as defined in La. See Louisiana Revised Statutes 11:952.1
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Member: means any employee included in the membership of the funded system as provided in La. See Louisiana Revised Statutes 11:952.1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Regular compensation: means the total cash compensation for personal services paid to an employee by the university, except compensation of an unusual or noncontinuing nature excluded by the board of supervisors as provided in La. See Louisiana Revised Statutes 11:952.1
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this part. See Louisiana Revised Statutes 11:952.1
• Retirement allowance: means annual payments for life under the funded system payable in equal monthly installments beginning as of the date fixed by the board of supervisors. See Louisiana Revised Statutes 11:952.1
• Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
• Service: means service as a teacher within the meaning of Paragraph (33) of this Section. See Louisiana Revised Statutes 11:701
• Social Security breakpoint: means the maximum level at which compensation may be included in the determination of the primary insurance amount under Title II of the Federal Social Security Act, provided that for purposes of the funded system seven thousand eight hundred dollars shall be deemed to have been the Social Security breakpoint for all years prior to 1968. See Louisiana Revised Statutes 11:952.1
• Spouse: shall mean a person who is legally married to a member of this system and shall not include a person who is legally separated from a member of this system by a judgment of separation, unless such person has voluntarily reconciled with the member and which reconciliation is established by a court of competent jurisdiction. See Louisiana Revised Statutes 11:701
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:952.1
• University: means all campuses and divisions of the Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
• University Retirement Plan: means the nonfunded University Retirement Plan established pursuant to regulations of the board of supervisors as in effect on the effective date of this funded system. See Louisiana Revised Statutes 11:952.1
• Venue: The geographical location in which a case is tried.