This text of Louisiana § 13:783.1 (Orleans Parish; retired clerks of civil district court and clerk's employees; creation) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§783.1. Orleans Parish; retired clerks of civil district court and clerk's employees; creation
of fund
A.
(1)Notwithstanding any other provisions of law to the contrary, there is hereby
created within the office of the Clerk of Civil District Court of the parish of Orleans a special
fund which shall be known as the Orleans Parish Clerk of Civil District Court's Office
Retired Employees Insurance Fund, hereinafter referred to as the "OPCOCVDCREIF", to
finance the payments of insurance premiums by the clerk of Civil District Court of Orleans
Parish for eligible retired clerks of civil district court and retired employees of the office of
the Clerk of Civil District Court of Orleans Parish.
(2)Annually, the clerk of Civil District Court of the parish of Orleans shall deposit
money from the o
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§783.1. Orleans Parish; retired clerks of civil district court and clerk's employees; creation
of fund
A.(1) Notwithstanding any other provisions of law to the contrary, there is hereby
created within the office of the Clerk of Civil District Court of the parish of Orleans a special
fund which shall be known as the Orleans Parish Clerk of Civil District Court's Office
Retired Employees Insurance Fund, hereinafter referred to as the "OPCOCVDCREIF", to
finance the payments of insurance premiums by the clerk of Civil District Court of Orleans
Parish for eligible retired clerks of civil district court and retired employees of the office of
the Clerk of Civil District Court of Orleans Parish.
(2) Annually, the clerk of Civil District Court of the parish of Orleans shall deposit
money from the office of the clerk of Civil District Court of the parish of Orleans general
fund into the OPCOCVDCREIF until the total amount of the money deposited in the
OPCOCVDCREIF equals the accrued liability of the benefits payable. The accrued liability
and funded status shall be recalculated annually as of the close of the fiscal year. No deposit
shall be required if the office of the clerk of Civil District Court of the parish of Orleans has
less than fifty thousand dollars available in its general fund after annual operations.
(3) The clerk of Civil District Court of the parish of Orleans shall invest the money
in the OPCOCVDCREIF in the Louisiana Asset Management Pool.
(4) The funds and earnings invested pursuant to this Section shall be available for
the clerk of Civil District Court of the parish of Orleans to withdraw for the purpose of
paying the insurance premiums. No earnings shall be withdrawn if the balance in the
OPCOCVDCREIF is less than seventy percent of the accrued liability calculated pursuant
to Paragraph (2) of this Subsection. In any year following an actuarial determination that the
fund balance is less than the seventy percent threshold, no earnings shall be withdrawn from
the OPCOCVDCREIF, and any balance owed for the payment of insurance premiums shall
be paid in full directly from the office of the clerk of Civil District Court of the parish of
Orleans.
(5) The money deposited into the OPCOCVDCREIF pursuant to this Section and the
accumulated earnings up to the required total shall not be appropriated except for the
investment and payment of premiums as provided for in this Section.
B. The legislative auditor shall audit the fund annually and the expense of such audit
shall be paid by the clerk of Civil District Court of the parish of Orleans.