The total amount payable in each year to the pension accumulation fund shall be not less than the sum of the rate per centum known as the normal contribution rate and the accrued liability contribution rate of the total compensation earnable by all members during the preceding year; provided that the amount of each annual accrued liability contribution shall be at least three per cent greater than the preceding annual accrued liability payment, and that the payment by the State of Louisiana shall be sufficient, when combined with the amount in the fund, to provide the pension and other benefits payable out of the fund during the year then current.
La. R.S. 11:1194
Annual amounts payable to pension accumulation fund
Known as the Early Retirement and Payroll Reduction Act
The act spans §§ 11–11 (622 sections).
Redesignated from R.S. 17:985 by Acts 1991, No. 74, §3, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.