Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2023 | Updated by Findlaw Staff
A. A nonrecurring lump-sum supplemental payment shall be payable to the following retirees and beneficiaries:
(1) Any retiree, other than a disability retiree, who has attained at least age sixty and who has received a benefit for at least one year on June 30, 2022.
(2) Any nonretiree beneficiary, if benefits have been paid to the retiree who was not a disability retiree or the beneficiary or both combined for at least one year and if the decedent would have attained at least age sixty on June 30, 2022.
(3) Any disability retiree or beneficiary who receives benefits based on the death of a disability retiree, if benefits have been paid to the retiree or the beneficiary or both combined for at least one year on June 30, 2022.
B. The nonrecurring lump-sum supplemental payment paid pursuant to the provisions of this Section shall be paid from funds in the system experience account and is payable not later than September 15, 2022.
C. Each retiree or beneficiary to whom this Section applies shall receive a nonrecurring lump-sum supplemental payment in an amount that is equal to the lesser of:
(1) The retiree or beneficiary's current monthly benefit.
(2) Two thousand dollars.
Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 11, § 542.3. Nonrecurring lump-sum supplemental payment for 2022; payment from experience account - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-11-sect-542-3/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)