Terms Used In Louisiana Revised Statutes 11:1191

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:1002
  • Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1002
  • Retirement system: means the Louisiana School Employees Retirement System established and described in La. See Louisiana Revised Statutes 11:1002

All the assets of the retirement system shall be credited according to the purpose for which they are held to one of five funds, namely: the annuity savings fund, the pension accumulation fund, the pension reserve fund, the survivors’ benefit fund, and the expense fund or to accounts required by the legislative auditor or the actuary to accurately reflect the financial and actuarial condition of the retirement system.  

Amended by Acts 1952, No. 127, §6; Acts 1977, No. 364, §1.  Acts 1984, No. 678, §1; Redesignated from La. Rev. Stat. 17:981 by Acts 1991, No. 74, §3, eff. June 25, 1991.