The expense account is the fund from which the expenses of the administration of the system shall be paid. The board shall determine annually the amount required to defray the expenses for the ensuing fiscal year. The amount required, as determined by the board, shall be paid into the expense account from the interest earnings of the system.
La. R.S. 11:535
Expense account
Known as the Early Retirement and Payroll Reduction Act
The act spans §§ 11–11 (622 sections).
Acts 1972, No. 135, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.