2009 Louisiana Laws TITLE 11 Consolidated public retirement :: RS 11:2135 Pension accumulation fund; contributions to and payments from fund; determination of normal and accrued liability contributions

§2135.  Pension accumulation fund; contributions to and payments from fund; determination of normal and accrued liability contributions

A.  The pension accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits payable from contributions made by employers and each sheriff and ex-officio tax collector as provided for under Subsections B, C, and D, of this Section and from which shall be paid all pensions and other benefits on account of members with prior service credit.  Contributions to and payments from the pension accumulation fund shall be made as follows:

B.  Repealed by Acts 1989, No. 202, §2.  

C.  Beginning with the 1964 tax roll, each sheriff and ex officio tax collector shall deduct one-sixteenth of one percent of the aggregate amount of the tax shown to be collected by the tax roll of each respective parish which money each respective sheriff shall turn over to the Registrars of Voters Employees' Retirement System of Louisiana, created by this Chapter, periodically at the same time said sheriff disburses funds to the tax recipient bodies of his respective parish.  

D.  Should the amount paid and credited under Subsection C of this Section be for a larger amount than the amount required by the Public Retirement Systems' Actuarial Committee to be paid and credited to the Pension Accumulation Fund and the Members' Supplemental Savings Fund, and the payment to be received by the retirement system in the following year shall be reduced accordingly.  

E.  Should the amount paid and credited to the Pension Accumulation Fund in accordance with Subsection C of this Section be for a smaller amount than the amount required as determined by the Public Retirement Systems' Actuarial Committee, then any additional amount required shall be contributed by the employers and each employer shall contribute an amount determined as follows: compute the percent that the deficient amount is of the aggregate salaries or compensation of all members in the employ of all employers on which employers' contributions are due.  Each employer then shall pay this percent of the aggregate salaries of all employees in his employ on which employers' contributions are done in the manner hereinafter set forth.  

F-G.  Repealed by Acts 1989, No. 202, §2.  

Acts 1954, No. 215, §8(3)(a to f).  Amended by Acts 1959, No. 62, §1; Acts 1964, No. 218, §1; Acts 1974, No. 388, §1; Acts 1989, No. 202, §§1, 2; Acts 1990, No. 433, §1, eff. Jan. 1, 1991; Redesignated from R.S. 18:1835 by Acts 1991, No. 74, §3, eff. June 25, 1991.