Louisiana Revised Statutes 11:3001 – City of Alexandria Employees’ Retirement System created; effective date; board of trustees
Terms Used In Louisiana Revised Statutes 11:3001
- Agency: shall mean any governing body employing persons in the Service of the City of Alexandria. See Louisiana Revised Statutes 11:3002
- Board: shall mean the Board of Trustees provided in La. See Louisiana Revised Statutes 11:3002
- City: shall mean the City of Alexandria. See Louisiana Revised Statutes 11:3002
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- System: shall mean the City of Alexandria Employees' Retirement System established and described in La. See Louisiana Revised Statutes 11:3002
A. A retirement system is hereby established and placed under the management of a Board of Trustees for the purpose of providing retirement allowances and other benefits under the provisions of this Part for officers and employees in the Service of the City of Alexandria and their beneficiaries. The retirement system is created as of the effective date of Acts 1948, No. 459 but shall begin full operations as of August 1, 1948, when contributions by members shall begin and benefits shall become payable.
B. It shall be an agency of the City of Alexandria and shall have the power and privileges of a corporation and shall be known as the “City of Alexandria Employees’ Retirement System”, and by such name all of its business shall be transacted, all of its funds invested and all of its cash and securities and other property held.
Designated from Acts 1948, No. 459, §1, by Acts 1991, No. 74, §3, eff. June 25, 1991.