Terms Used In Louisiana Revised Statutes > Title 2 > Chapter 2 > Part V - New Orleans International Airport

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Annuity: means payments for life derived from the "accumulated contributions" of a member. See Louisiana Revised Statutes 11:701
• Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
• 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
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Earnable compensation: means the compensation earned by a member during the full normal working time as a teacher. See Louisiana Revised Statutes 11:701
• Eligible rollover distribution: means a distribution as defined in La. See Louisiana Revised Statutes 11:701
• 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
• Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and La. See Louisiana Revised Statutes 39:2
• Fiscal year: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:701
• 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.
• Internal Revenue Code: means the United States Internal Revenue Code of 1986, as amended. See Louisiana Revised Statutes 11:701
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Live birth: means a birth in which the child shows evidence of life after complete birth. See Louisiana Revised Statutes 40:32
• Maximum benefit: means the retirement benefit a member is entitled to receive from the system set forth in Part IV of this Chapter in any month after giving effect to La. See Louisiana Revised Statutes 11:701
• Medical board: shall mean the State Medical Disability Board. See Louisiana Revised Statutes 11:701
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Natural person: means a human being. See Louisiana Revised Statutes 11:701
• non-bargaining employee: shall mean any employee of the Louisiana Association of Educators whose employment is not covered by a collective bargaining agreement. See Louisiana Revised Statutes 11:701
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
• Qualified plan: means a trust which is covered by the provisions of Section 401(a) of the United States Internal Revenue Code. See Louisiana Revised Statutes 11:701
• Regular interest: means interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with La. See Louisiana Revised Statutes 11:701
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
• Retirement allowance: means the sum of the annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:701
• 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
• 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
• Student: means a person who satisfies all of the provisions of this Paragraph. See Louisiana Revised Statutes 11:701
• Vital records registry: means a central registry as provided for in La. See Louisiana Revised Statutes 40:32