Louisiana Revised Statutes 11:952.40 – Minimum benefit payable to former participants in the nonfunded university retirement plan
Terms Used In Louisiana Revised Statutes 11:952.40
- funded system: means the funded Louisiana State University and Agricultural and Mechanical College Retirement System as defined in La. See Louisiana Revised Statutes 11:952.1
- Member: means any employee included in the membership of the funded system as provided in La. See Louisiana Revised Statutes 11:952.1
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this part. See Louisiana Revised Statutes 11:952.1
- University: means all campuses and divisions of the Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
- University Retirement Plan: means the nonfunded University Retirement Plan established pursuant to regulations of the board of supervisors as in effect on the effective date of this funded system. See Louisiana Revised Statutes 11:952.1
Anything herein to the contrary notwithstanding, the retirement allowance payable at retirement, inclusive of any tax-sheltered annuity purchased for the member under the provisions of La. Rev. Stat. 11:952.52(F), including disability retirement, to any member who immediately prior to his membership in this funded system, was a participant in the nonfunded university retirement plan shall not be less than the amount of the retirement stipend that would have been payable, based on similar circumstances and conditions, under the nonfunded university retirement plan had he elected to continue as a participant under that plan and had that plan continued in effect without change.
Added by Acts 1971, No. 26, §1. Amended by Acts 1972, No. 519, §1. Redesignated from La. Rev. Stat. 17:1633 pursuant to La. Rev. Stat. 24:253.