TITLE 17. EDUCATION

CHAPTER 2. TEACHERS AND EMPLOYEES

PART IX. ORLEANS PARISH SCHOOL EMPLOYEES RETIREMENT SYSTEM

SUBPART D. METHOD OF FINANCING

17:1080    Pensions payable from accumulation account; transfers to reserve account

  All pension payable on account of participants entitled to prior service credit shall be payable from the pension accumulation account.

  Upon the retirement of a participant not entitled to credit for prior service, an amount equal to his pension reserve shall be transferred from the pension accumulation account to the pension reserve account.