Terms Used In Louisiana Revised Statutes > Title 47 > Subtitle II > Chapter 1 > Part I > Subpart DDD - University of New Orleans Foundation

• 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 fund together with regular interest thereon as provided in La. See Louisiana Revised Statutes 11:2213
• average final compensation: means the average annual earned compensation of a member for the sixty highest months of successive employment, or for the highest sixty successive joined months of employment where interruption of service occurred. See Louisiana Revised Statutes 11:2213
• Board of trustees: shall mean the board provided for in La. See Louisiana Revised Statutes 11:2213
• Contract: A legal written agreement that becomes binding when signed.
• Creditable service: shall mean service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:2213
• Devise: To gift property by will.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Member: shall include any employee, as defined in Paragraph (11) of this Section, included in the membership of this system as provided in La. See Louisiana Revised Statutes 11:2213
• Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
• Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2213
• Service: shall mean service rendered as an employee as described in Paragraph (11) of this Section. See Louisiana Revised Statutes 11:2213
• Statute: A law passed by a legislature.
• Surviving child: shall mean an unmarried person under the age of eighteen years or an unmarried student under the age of twenty-three years, if the person or student is one of the following:

              (i) The issue of a marriage of a member of this system. See Louisiana Revised Statutes 11:2213

• system: shall mean the Municipal Police Employees' Retirement System as established in La. See Louisiana Revised Statutes 11:2213
• Trustee: A person or institution holding and administering property in trust.