Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 28 > Part III - Acreage Tax On Forest and Cut Over Lands

• Accumulated Contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the Annuity Savings Account, together with regular interest thereon as provided in La. See Louisiana Revised Statutes 11:3002
• Agency: shall mean any governing body employing persons in the Service of the City of Alexandria. See Louisiana Revised Statutes 11:3002
• 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.
• Average Compensation: means the average annual earnable compensation of an employee for any period of three consecutive years of service as an employee during which the said earnable compensation was the highest. See Louisiana Revised Statutes 11:3002
• 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}
• Board: shall mean the Board of Trustees provided in La. See Louisiana Revised Statutes 11:3002
• Chambers: A judge's office.
• City: shall mean the City of Alexandria. See Louisiana Revised Statutes 11:3002
• City Service: shall mean all offices and positions of trust or employment in the employ of the City, or any department, independent agency, board or Commission thereof. See Louisiana Revised Statutes 11:3002
• Creditable Service: shall mean "Prior Service" plus "Membership Service" for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:3002
• dividend: when used in this Chapter (except in La. See Louisiana Revised Statutes 47:159
• Earnable Compensation: shall mean the full amount earned by an employee for a given pay period. See Louisiana Revised Statutes 11:3002
• Employee: means any person legally occupying a position in the Service of the City of Alexandria, and shall include the employees of the retirement system created hereunder. See Louisiana Revised Statutes 11:3002
• Employer: shall mean the City of Alexandria or any of its departments and agencies from which any employee receives his compensation. See Louisiana Revised Statutes 11:3002
• Fiscal Year: shall mean the period beginning on January first in any year, and ending on December thirty-first of the same year. See Louisiana Revised Statutes 11:3002
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Member: shall mean any employee in the City service included in the membership of the system as provided in La. See Louisiana Revised Statutes 11:3002
• Membership Service: means service as an employee rendered while a member of the retirement system. See Louisiana Revised Statutes 11:3002
• Prior Service: shall mean service rendered prior to August 1, 1948 for which credit is allowable under La. See Louisiana Revised Statutes 11:3002
• Retirement Allowance: shall mean an annuity for life, as provided in this Part, payable each year in twelve equal monthly installments beginning as of the date fixed by the Board. See Louisiana Revised Statutes 11:3002
• System: shall mean the City of Alexandria Employees' Retirement System established and described in La. See Louisiana Revised Statutes 11:3002