RS 11:726 Termination of membership; withdrawal from service after five years; retirement at age sixty - Louisiana Statutes

§726.  Termination of membership; withdrawal from service after five years; retirement at age sixty

A.  Membership in this system shall cease when a member having less than twenty years of service under this system:

(1)  Absents himself from service for more than five years in any period of six consecutive years.

(2)  Withdraws his accumulated contributions.

(3)  Retires.

(4)  Dies.

B.  However, any member who has credit for five or more years of service may withdraw from service and elect to leave his accumulated contributions in the system and, upon reaching age sixty, he shall receive a retirement allowance based on the credits he had at the time of his withdrawal from service.

Amended by Acts 1952, No. 236, §1; Acts 1975, Ex.Sess., No. 3, §2, eff. June 1, 1975; Redesignated from R.S. 17:596 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2001, No. 1055, §1, eff. July 1, 2001.