The following words and phrases as used in this Part, unless a different meaning is plainly required by the context, shall have the following meanings:
(1)"Accumulated Contributions" shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the Annuity Savings Account, together with regular interest thereon as provided in R.S. 11:3012.
(2)"Actuarial Equivalent" shall mean a benefit of equal value to the accumulated contributions, annuity or benefit as the case may be, when computed upon the basis of such mortality tables as shall be adopted by the Board of Trustees and regular interest.
(3)"Actuarial Tables" shall mean such tables of mortality and rates of interest as shall be adopted by the Board in accordance with recomm
Free access — add to your briefcase to read the full text and ask questions with AI
The following words and phrases as used in this Part, unless a different meaning is plainly required by the context, shall have the following meanings:
(1) "Accumulated Contributions" shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the Annuity Savings Account, together with regular interest thereon as provided in R.S. 11:3012.
(2) "Actuarial Equivalent" shall mean a benefit of equal value to the accumulated contributions, annuity or benefit as the case may be, when computed upon the basis of such mortality tables as shall be adopted by the Board of Trustees and regular interest.
(3) "Actuarial Tables" shall mean such tables of mortality and rates of interest as shall be adopted by the Board in accordance with recommendations of the actuary; provided that until the system has been in operation for at least three years from August 1, 1948, the Combined Annuity Mortality Table for male lives shall be used.
(4) "Agency" shall mean any governing body employing persons in the Service of the City of Alexandria.
(5) "Average Compensation" means the average annual earnable compensation of an employee for any period of three consecutive years of service as an employee during which the said earnable compensation was the highest.
(6) "Beneficiary" shall mean any person designated to receive a retirement allowance, an annuity or other benefit as provided by this Part.
(7) "Board" shall mean the Board of Trustees provided in R.S. 11:3011 to administer the retirement system herein created.
(8) "Creditable Service" shall mean "Prior Service" plus "Membership Service" for which credit is allowable as provided in R.S. 11:3004.
(9) "Earnable Compensation" shall mean the full amount earned by an employee for a given pay period. In cases where compensation includes maintenance, the City Department of Civil Service shall fix the value of that part of the compensation not paid in money.
(10) "Employee" means any person legally occupying a position in the Service of the City of Alexandria, and shall include the employees of the retirement system created hereunder.
(11) "Employer" shall mean the City of Alexandria or any of its departments and agencies from which any employee receives his compensation.
(12) "Fiscal Year" shall mean the period beginning on January first in any year, and ending on December thirty-first of the same year.
(13) "Medical Board" shall mean the Board of Physicians provided for in R.S. 11:3011.
(14) "Member" shall mean any employee in the City service included in the membership of the system as provided in R.S. 11:3003.
(15) "Membership Service" means service as an employee rendered while a member of the retirement system. Membership service shall also include any unused sick leave and annual leave for which the member has not been paid.
(16) "Position" means any office and any employment in the City Service, or two or more of them, the duties of which call for services to be rendered by one person.
(17) "Prior Service" shall mean service rendered prior to August 1, 1948 for which credit is allowable under R.S. 11:3004.
(18) "Regular Interest" shall mean interest compounded annually at such rate as shall be determined by the Board in accordance with R.S. 11:3012.
(19) "Retirement Allowance" shall mean an annuity for life, as provided in this Part, payable each year in twelve equal monthly installments beginning as of the date fixed by the Board.
(20) "System" shall mean the City of Alexandria Employees' Retirement System established and described in R.S. 11:3001.
(21) "City" shall mean the City of Alexandria.
(22) "City Service" shall mean all offices and positions of trust or employment in the employ of the City, or any department, independent agency, board or Commission thereof. "City Service" shall not include, or be construed as including firemen or policemen employed by the City.
(23) "Withdrawal from Service" shall mean complete severance of employment in the City Service of any member by resignation, dismissal or discharge.
(24) The masculine pronoun, wherever used, shall include the feminine pronoun.
Designated from Acts 1948, No. 459, §2 by Acts 1991, No. 74, §3, eff. June 25, 1991.