Louisiana Revised Statutes 11:1907 – Correction of errors
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Terms Used In Louisiana Revised Statutes 11:1907
- Actuarial equivalent: shall mean a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed on the basis of such mortality and interest tables as shall be adopted by the board of trustees in accordance with the provisions of La. See Louisiana Revised Statutes 11:1902
- 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 the person designated in writing by a member to receive any benefits to which he may be entitled under this Chapter. See Louisiana Revised Statutes 11:1902
- Fraud: Intentional deception resulting in injury to another.
- Member: means a contributing employee who is covered under the provisions of this Chapter. See Louisiana Revised Statutes 11:1902
Should any change or error in the records either through administrative error or fraud result in any member or beneficiary receiving from the system more or less than he would have been entitled to receive had the records been correct, the board shall correct such error and so far as practicable, shall adjust the payment in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled, shall be paid.
Acts 1979, No. 765, §1, eff. Jan. 1, 1980; Redesignated from La. Rev. Stat. 33:6107 by Acts 1991, No. 74, §3, eff. June 25, 1991.