Louisiana Revised Statutes 11:1788 – Optional membership
Terms Used In Louisiana Revised Statutes 11:1788
- Employee: means a person including an elected official, actively employed by a participating employer on a permanent, regularly scheduled basis of at least an average of thirty-five hours per week. See Louisiana Revised Statutes 11:1732
- Final compensation: means the average monthly earnings during the highest sixty consecutive months or joined months if service was interrupted. See Louisiana Revised Statutes 11:1732
- Member: means a contributing employee who is covered under the provisions of this Chapter. See Louisiana Revised Statutes 11:1732
- Plan A: means the revised plan to replace a combination of the regular and supplemental plans, to be effective October 1, 1978, as outlined in Part III of this Chapter. See Louisiana Revised Statutes 11:1732
- Plan B: means the revised plan to replace the regular plan, to be effective October 1, 1978, as outlined in Part IV of this Chapter. See Louisiana Revised Statutes 11:1732
A. Notwithstanding any other provision of law to the contrary, any municipality which has its employees covered under Social Security and enrolled in Plan B of this system, shall have the option of becoming members of Plan A. The municipality shall notify the system of its intention to be enrolled in Plan A in writing. The municipality shall not be entitled to transfer the service and contributions standing to their credit in Plan B to Plan A. After the effective date of such transfer, both the employee and employer shall make the current contributions required by each under Plan A.
B. The provisions of La. Rev. Stat. 11:142 relative to eligibility for retirement and benefit computation shall be applicable to any member who has credit in Plan A and Plan B as if the two plans are two distinct, separate, and independent public retirement systems. However, for benefit computation purposes, final compensation, as defined by La. Rev. Stat. 11:732(15), shall be based on all service in the system, regardless of in which plan, as if all credit were in the same plan.
Acts 1983, No. 453, §1; Acts 1983, 2nd Ex. Sess., No. 6, §1; Acts 1985, No. 83, §1; Acts 1990, No. 339, §1; Redesignated from La. Rev. Stat. 33:7237.1 by Acts 1991, No. 74, §3, eff. June 25, 1991.