RS 11:1149 Contributions of members out of service for five years - Louisiana Statutes

§1149.  Contributions of members out of service for five years

Whenever a member who has less than ten years of service credit has been out of service for five years without having applied for a refund of contributions, the retirement system shall transmit to him by certified mail, return receipt requested, at his last known address, a notification of his rights with respect to the refund of contributions, his rights to leave the contributions in the system if he plans to reenter service, and his rights to use the contributions for reciprocity if he becomes a member of another system.  If the retirement system does not receive any response to the notification within ninety days of mailing, the contributions to which the member is entitled shall be placed to the credit of the pension accumulation fund.  Upon a valid request for a refund of contributions, such refund will be made from the pension accumulation fund.  

Acts 1984, No. 60, §1; Redesignated from R.S. 17:917.1 by Acts 1991, No. 74, §3, eff. June 25, 1991.