Louisiana Revised Statutes 11:2233 – Guaranty
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Terms Used In Louisiana Revised Statutes 11:2233
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2213
The maintenance of annuity reserve and pension reserves as provided for, and regular interest creditable to the various funds as provided in La. Rev. Stat. 11:2227, and the payment of all pensions, annuities, retirement allowance refunds and other benefits granted under the provisions of this Chapter, are hereby made obligations of the Pension Accumulation Fund. All income, interest and dividends derived from deposits and investments authorized by this Chapter shall be used for the payment of the said obligations of the said fund.
Added by Acts 1973, No. 189, §1; Redesignated from La. Rev. Stat. 33:2384 by Acts 1991, No. 74, §3, eff. June 25, 1991.