Louisiana § 42:871

Louisiana Statutes

§ 42:871

Louisiana·Title 42 Public Officers and Employees

§871. Group retirement plans
Any agency or department of the state of Louisiana and each of its political, governmental, and administrative subdivisions are authorized to adopt group plans which allow the purchase of annuities, life insurance, or mutual funds which qualify for deferred federal taxation benefits as provided in Section 401(a) of the U.S. Internal Revenue Code. The employees' contributions for making such purchases may be deducted by the employer from the employees' salaries when authorized in writing by the respective persons so to do; provided that the state of Louisiana shall make no contribution toward such purchases. All such group plans must be procured through insurance companies authorized to do business within this state.
Acts 2001, No. 1178, §5, eff. June 29, 2001.

Free access — add to your briefcase to read the full text and ask questions with AI

§871. Group retirement plans
Any agency or department of the state of Louisiana and each of its political, governmental, and administrative subdivisions are authorized to adopt group plans which allow the purchase of annuities, life insurance, or mutual funds which qualify for deferred federal taxation benefits as provided in Section 401(a) of the U.S. Internal Revenue Code. The employees' contributions for making such purchases may be deducted by the employer from the employees' salaries when authorized in writing by the respective persons so to do; provided that the state of Louisiana shall make no contribution toward such purchases. All such group plans must be procured through insurance companies authorized to do business within this state.
Acts 2001, No. 1178, §5, eff. June 29, 2001.

Louisiana § 42:871 — published by Counsel Stack Legal Research, free access to 12M+ legal documents.