Louisiana Administrative Code
Title 58 - RETIREMENT
Part I - Louisiana State Employees' Retirement System
Chapter 35 - Optional Retirement Plan
Section I-3515 - Benefit Obligations

Universal Citation: LA Admin Code I-3515

Current through Register Vol. 50, No. 9, September 20, 2024

A. All benefits payable to participants under the ORP shall be the sole obligation of the ORP provider to which contributions are made, and shall not be the obligation of LASERS. Payments to participants or their beneficiaries shall be made by the ORP provider and not LASERS in accordance with the contracts approved for use in the ORP. Participants in the ORP shall not be entitled to any benefits under the defined benefit plan, and once a choice is made by a participant to participate in the ORP, that individual will be ineligible to participate in the defined benefit plan.

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:511 and R.S. 11:515.

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