Louisiana Revised Statutes 11:1196 – Normal and accrued liability contributions payable by state, determination; certification to governor of amounts needed
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 11:1196
- Board of Trustees: means the board provided to administer the retirement system. See Louisiana Revised Statutes 11:1002
- Employer: means the state of Louisiana or any parish or city school board from which any employee receives his compensation. 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
A. The amount payable annually by the State of Louisiana on account of normal and accrued liability contributions shall be determined by applying the employer‘s contribution rate to the amount of compensation earned by employees who are members of the retirement system.
B. On or before March first next preceding each regular session of the legislature, the board of trustees shall determine the amount payable to the state for each of the two years of the ensuing biennium, and shall certify the amounts necessary to the governor and to the state budget officer.
Redesignated from La. Rev. Stat. 17:988 by Acts 1991, No. 74, §3, eff. June 25, 1991.