Louisiana Revised Statutes 11:3044 – Contributions by members
Terms Used In Louisiana Revised Statutes 11:3044
- Employee: shall mean any appointive officer or employee of the city now or hereafter employed by the city, whose services are compensated by the city in whole or in part, who is not covered by any existing pension fund maintained by the city. See Louisiana Revised Statutes 11:3033
- Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
- System: shall mean the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
Each member of the system shall contribute six percent of compensation earned and accruing to such member. Special compensation, or additional fees, shall not be considered as earnings for contribution purposes. This contribution shall be made as a deduction from compensation, notwithstanding that the compensation paid in cash to such member shall be reduced thereby below the established rate. Every employee who is a member of the system shall be deemed to consent and agree to the deduction from compensation as herein provided, and payment to such employee of compensation less such deduction shall constitute a full or complete discharge and acquittance of all claims and demands whatsoever for the services rendered by such employee during the period covered by such payment, except as to the benefits herein provided.
Designated from Acts 1985, No. 626, §1, by Acts 1991, No. 74, §3, eff. June 25, 1991.