Louisiana Revised Statutes Tit. 47, § 53.4. Exclusions from gross income; amounts of purchase of annuities for certain employees

A. There shall be excluded from the gross income of an employee of an employer which is exempt from tax under R.S. 47:121(5) and from the gross income of an employee of an educational institution, as that term is hereafter defined, amounts which by agreement with the employee are set aside from the employee's compensation and used by the employer for the purchase of annuities for the employee.

As used herein, “educational institution” means only an educational institution which normally maintains a regular faculty and curriculum and normally has a regular organized body of students in attendance at the place where its educational activities are carried on.

B. There shall be excluded from the gross income of teachers and other employees of parish and city school boards amounts set aside under R.S. 17:1315 from the teachers' and other employees' salaries and used by the school boards for the purchase of annuities for the teachers and other employees.