Louisiana Revised Statutes 11:2165.4 – Eligibility for retirement
Terms Used In Louisiana Revised Statutes 11:2165.4
- Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:2031
- Creditable service: shall mean service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:2031
- Member: shall include persons who would be eligible for system membership pursuant to La. See Louisiana Revised Statutes 11:2165.2
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2031
- Retirement allowance: shall mean the sum of the annuity and the pensions, or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:2031
- Service: shall mean service rendered as an employee as described in Paragraph (10) of this Section. See Louisiana Revised Statutes 11:2031
A. A member upon withdrawal from service shall be entitled to receive a retirement allowance which shall begin as of the date specified by the member in his application for the allowance but in no event before withdrawal from service if he has:
(1) Attained the age of sixty-two years and completed at least ten years of creditable service.
(2) Attained the age of sixty years and completed at least twenty years of creditable service.
(3) Attained the age of fifty-five years and completed at least thirty years of creditable service.
B. Any member whose withdrawal from service occurs prior to his attaining the age of sixty-two years, who shall have completed more than ten years of creditable service and shall not have received a refund of his accumulated contributions shall be entitled to receive a retirement allowance beginning upon his attaining the age of sixty-two years of the amount earned and accrued at the date of withdrawal from service; provided that such benefits shall begin at age sixty if he has twenty or more years of creditable service; provided further that such benefits shall begin at age fifty-five if he has thirty or more years of creditable service.
Acts 2012, No. 719, §1, eff. June 30, 2012.