RS 11:951.7
124 words·~1 min read·
/la/title-11/11-1525A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 11:951.7
§951.7. Maintenance of reserves and payment of benefits, etc., guaranteed
The creation and maintenance of reserves in the pension accumulation account; the maintenance of the annuity reserves in the annuity reserve account and the pension reserves in the pension reserve account; the crediting of regular interest to the various accounts; and the payment of all pensions, annuities, retirement allowances, refunds and other benefits granted under the provisions of this Part and all expenses in connection with the administration and operation of this retirement system, are made obligations of the retirement system. All income, interest and dividends derived from deposits and investments authorized by this Part shall be used for the payment of these obligations.
Redesignated from R.S. 17:1017 pursuant to R.S. 24:253.