Louisiana Revised Statutes 11:3867 – Reduction by other benefits
Terms Used In Louisiana Revised Statutes 11:3867
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Official: shall mean any person serving in elective office of any city in the State of Louisiana covered by this Part;
(6) "Retirement" shall mean withdrawal from active service in municipal office;
(7) "Retirement Allowance" shall mean payments for life computed as provided in this Part and payable in monthly installments;
(8) "Retirement allowance fund" shall mean a fund maintained by the city as defined in this Part, in which all funds provided by the city for retirement allowances authorized by this Part shall be maintained and from which all retirement allowances are to be paid. See Louisiana Revised Statutes 11:3861
A. Provided, however, if an elected official, beneficiary hereunder, is a member of and belongs to and/or contributes to, any municipal, parish or state employees retirement fund or system at the time of his retirement, to which the employee contributes, any benefits payable hereunder to any such beneficiary hereunder shall be reduced in that proportionate amount of the benefits paid (excluding social security) under such municipal or parish, or the state employees retirement fund or system as the contribution made by the respective municipality or parish, or the state, of which such beneficiary is an elected official, bears to the total contributions being made by the respective municipality or parish, or the state and the employee, together, into the retirement fund or system, as of the date of such beneficiary’s retirement.
B. Provided, also that the official may not evade this Section by withdrawing his contributions and membership in such employees retirement system prior to receiving benefits under this act. In case such withdrawal occurs the benefits hereinabove provided shall be reduced in the same manner as though he had continued membership in the aforementioned employee’s retirement system and received benefits therefrom.
Acts 1958, No. 65, §8. Amended by Acts 1960, No. 214, §1; Redesignated from La. Rev. Stat. 33:1797 by Acts 1991, No. 74, §3, eff. June 25, 1991.