RS 11:3038 Amount of service retirement annuity - Louisiana Statutes

§3038.  Amount of service retirement annuity

A.  Upon retirement, a member shall be entitled to receive a service retirement annuity equal to two and two-thirds percent of average salary for each year of total service.

B.  A proportional amount of the annual rate of annuity shall be determined and granted for any fractional part of a year of service.

C.  The minimum amount of service retirement annuity in any case shall be twenty-five percent of average salary. The maximum service retirement annuity shall be sixty-six and two-thirds percent of average salary.

Designated from Acts 1967, No. 9, §1, by Acts 1991, No. 74, §3, eff. June 25, 1991.