Terms Used In Louisiana Revised Statutes 11:3683

  • 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.
  • board: means the board provided for in La. See Louisiana Revised Statutes 11:3682
  • Employee: means any commissioned member or employee of the Harbor Police Department of the Port of New Orleans prior to July 1, 2004, or any commissioned member of the Harbor Police Department of the Port of New Orleans on or after July 1, 2004 and hired on or before June 30, 2014. See Louisiana Revised Statutes 11:3682
  • Employer: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
  • Member: includes any employees, as defined in Paragraph (16) of this Section, included in the membership of this plan as provided in La. See Louisiana Revised Statutes 11:3682
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • Plan: means the Harbor Police Retirement Plan established in this Subpart and administered as a plan within the Louisiana State Employees' Retirement System pursuant to La. See Louisiana Revised Statutes 11:3682
  • Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Subpart. See Louisiana Revised Statutes 11:3682
  • Service: means service rendered as an employee as described in Paragraph (16) of this Section. See Louisiana Revised Statutes 11:3682
  • system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682

            The membership of the plan shall be composed as follows:

            (1) All persons who shall become employees as defined in La. Rev. Stat. 11:3682(16) after August 1, 1971, and on or before June 30, 2014, except those specifically excluded under Paragraph (3) of this Section, shall become members as a condition of their employment, provided they are under fifty years of age at the date of employment.

            (2) All persons who are employees as the term is defined in La. Rev. Stat. 11:3682(16) on August 1, 1971, shall become members as of that date unless within a period of thirty days next following, any such employee shall file with the Board of Trustees on a form prescribed by such board a notice of his election not to be covered in the membership of the system and a duly executed waiver of all present and prospective benefits which would otherwise inure to him on account of his participation in the retirement system.

            (3)(a) All persons who are employees as the term is defined in La. Rev. Stat. 11:3682(16) who are members of any fund or who are eligible for membership in any fund operated for the retirement of employees by the state of Louisiana, or by a city, parish, or other political subdivision of the state of Louisiana on August 1, 1971, shall cease to be members of such fund upon that date and all contributions made by these employees to the retirement system of which they are members before August 1, 1971, shall be transferred to the Harbor Police Retirement System and shall be accompanied by the transfer of all employer contributions previously made for their account to such retirement system. All such employees shall then become members of the Harbor Police Retirement System with full credit for all such service prior to August 1, 1971. Provided, however, that the provisions of this Paragraph shall not apply to any person electing not to become a member of this system.

            (b) Any employee who is employed on July 7, 2003, who has retired from service under any retirement system of this state partly or wholly financed by public funds, who is receiving retirement benefits therefrom, and who was prohibited from becoming a member of this system upon his initial employment solely on this basis shall become a member of this plan from the date of his initial employment provided he meets all other eligibility requirements; however, any such employee may purchase credit for previous service only in compliance with the provisions of La. Rev. Stat. 11:158 relating to actuarial calculation of purchase price.

            (4) Should any member, after becoming a member, be absent from service for more than five years and not be entitled to a deferred annuity as provided in La. Rev. Stat. 11:3685(A) hereof, or should he become a beneficiary or die, he shall thereupon cease to be a member.

            Acts 1971, No. 80, §3, designated by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2003, No. 1255, §1, eff. July 7, 2003; Acts 2004, No. 621, §1, eff. July 5, 2004; Acts 2010, No. 1025, §1, eff. July 1, 2010; Acts 2014, No. 648, §1, 2, see Act for effective date.