2006 Louisiana Laws - RS 11:901.2 — Administration of supplement; reduction of monthly payments

§901.2.  Administration of supplement; reduction of monthly payments

The board of trustees of the Teachers' Retirement System of Louisiana, under such rules and regulations as the said board of trustees may adopt not inconsistent herewith, shall administer the benefit or supplement provided by this Part.

Should it appear to the board of trustees of the Teachers' Retirement System that during any fiscal year the total amount of the benefits provided exceeds the sum appropriated to pay the cost of the benefit provided in this Part, the board of trustees is hereby directed and empowered to reduce each monthly payment authorized hereunder by a proportionate percentage.

Added by Acts 1952, No. 568, §2.  Amended by Acts 1975, Ex.Sess., No. 3, §2, eff. June 1, 1975.  Redesignated from R.S. 17:712 pursuant to R.S. 24:253.