A. The Retiree's Annuity Reserve shall be credited as follows: 1. The employees' accumulated contributions shall be credited immediately upon retirement or payment of survivor's benefits. 2. Amount determined by Actuary transferred at end of fiscal year from Employer's Savings Account. 3. Amount required for payment of cost-of-living increases for retirees transferred from Employers' Accumulation Account at the beginning of each fiscal year. B. The Retiree's Annuity Reserve shall be charged as follows: 1. Retirements paid to retirees and beneficiaries. 2. Survivor's benefits paid to eligible survivors. 3. Refunds paid to survivors or the estates of members whereby monthly benefits do not equal total accumulated contributions. 4. Cost-of-living adjustments for retirees, beneficiaries and survivor's benefits recipients. 5. Reestablished service.
‹ Prev All Louisiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.