RS 11:951.50 Pensions payable from accumulation account; transfers to reserve account
§951.50. Pensions payable from accumulation account; transfers to reserve account
A. All pensions payable on account of participants entitled to prior service credit shall be payable from the pension accumulation account.
B. Upon the retirement of a participant not entitled to credit for prior service, an amount equal to his pension reserve shall be transferred from the pension accumulation account to the pension reserve account.
Redesignated from R.S. 17:1080 pursuant to R.S. 24:253.