§ 11:3319 — Salary deductions paid into the fund; contributions by the city

Louisiana § 11:3319

• Jurisdiction: Louisiana
• Title 11: Consolidated Public Retirement Systems

Text

The Firemen's Pension and Relief Fund shall consist of the following:
(1) All monies, funds, properties, real and personal, and assets now belonging to or due the presently existing Firemen's Pension and Relief Fund of the City of Lake Charles.
(2) All rewards, gifts or emoluments that may be paid for or on account of extraordinary service of said fire department, except when given to an individual member or given to endow a medal or other permanent reward.
(3) A percentage of the gross salary of each employee of the fire department shall be deducted monthly from the salary of each and paid into said fund; however, any person who ceases to be an employee of the fire department and who is not eligible to participate in the benefits of the fund shall be entitled to a refund of all monies which the employee has paid into the fund. The percentage deduction shall be as follows:
(a) Five percent during the Fiscal Year 1976-1977.
(b) Six percent during the Fiscal Year 1977-1978.
(c) Seven percent during the Fiscal Year 1978-1979.
(d) Eight percent during the Fiscal Year 1979-1980 and succeeding fiscal years.
(4) A sum equal to a percentage, as set forth below, of the total salary of all employees of the fire department to be paid into the fund by the City of Lake Charles, and the City of Lake Charles is hereby authorized and directed to pay into the fund annually, a sum equal to the total sum paid into the fund from payroll deductions of all employees of the fire department. The percentages shall be as follows:
(a) Five percent during the Fiscal Year 1976-1977.
(b) Six percent during the Fiscal Year 1977-1978.
(c) Seven percent during the Fiscal Year 1978-1979.
(d) Eight percent during the Fiscal Year 1979-1980 and succeeding fiscal years.
(5) The City of Lake Charles and the Ward Three Fire Protection District of Calcasieu Parish are authorized and directed to pay to the Firemen's Pension and Relief Fund annually the amount received by them as rebate on fire insurance premiums of foreign companies, or as insurance contributions otherwise paid to the City of Lake Charles and Ward Three Fire Protection District of Calcasieu Parish by the State of Louisiana in connection with fire insurance, exclusive of any sum of money paid into the Firemen's Pension and Relief Fund from rewards or gifts, and any sum of money paid by deductions from the salary of the members of the Lake Charles Fire Department.
(6) The City of Lake Charles is authorized and directed to contribute an annual sum in order to maintain a $300,000.00 reserve at all times for pensions and other benefits provided by this Part. However, the City of Lake Charles shall not be required to contribute an amount in excess of the following:
(a) $25,000.00 for the year 1968.
(b) $50,000.00 for the year 1969.
(c) $60,000.00 for the year 1970.
(d) $70,000.00 for the year 1971.
(e) $80,000.00 for the year 1972.
(f) $90,000.00 for the year 1973.
(g) $100,000.00 for the year 1974 and for each succeeding year thereafter in order to maintain the said reserve. The City of Lake Charles shall be obligated and directed to contribute a sum of not less than $25,000.00 each year regardless of the fact that the reserve of $300,000.00 may thereby be exceeded.
(7) All monies required to be paid into the Firemen's Pension and Relief Fund by the City of Lake Charles shall be paid into said Fund by the said City of Lake Charles during December of each year.
Designated from Acts 1944, No. 186, §9 by Acts 1991, No. 74, §3, eff. June 25, 1991.