The accrued liability contribution shall be discontinued as soon as the accumulated reserve in the pension accumulation fund shall equal the present value, as actuarially computed and approved by the board of trustees, of the total liability of such fund less the present value, computed on the basis of the normal contribution rate then in force, of the prospective normal contributions to be received on account of all persons who are at that time members.
La. R.S. 11:877
Accrued liability contributions; discontinuance
Known as the Early Retirement and Payroll Reduction Act
The act spans §§ 11–11 (622 sections).
Redesignated from R.S. 17:698 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.