Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 28 > Part IV - Severance Tax On Land Reforested

• 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
• Actuarial Equivalent: shall mean a benefit of equal value to the accumulated contributions, annuity or benefit as the case may be, when computed upon the basis of such mortality tables as shall be adopted by the Board of Trustees and regular interest. 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
• Board: shall mean the Board of Trustees provided in La. 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
• 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
• 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
• 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
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• System: shall mean the City of Alexandria Employees' Retirement System established and described in La. See Louisiana Revised Statutes 11:3002
• Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
• Withdrawal from Service: shall mean complete severance of employment in the City Service of any member by resignation, dismissal or discharge. See Louisiana Revised Statutes 11:3002