Louisiana Revised Statutes 20:33 – Pension, annuity, and gratuity payment by employers
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Terms Used In Louisiana Revised Statutes 20:33
- 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.
The following shall be exempt from all liability for any debt except alimony and child support:
(1) All pensions, tax-deferred arrangements, and annuity contracts, as defined and to the same extent prescribed in La. Rev. Stat. 13:3881.
(2) All gratuitous payments made by employers to their employees or former employees, or to the widow, or heirs, or beneficiaries of their employees or former employees, whether such payments are made in consideration of the length of service rendered by the employee, his age, death, or otherwise.
Acts 1952, No. 117, §1. Amended by Acts 1968, No. 577, §1; Acts 1983, No. 362, §1; Acts 1999, No. 63, §2.