§951.42. Annuity savings account; description; amount of employee contributions
A. The annuity savings account is the account to which shall be credited the contributions from the compensation of the participants to provide for their annuities.
B. Each employee eligible to participation shall be required to contribute to the retirement system such per centum of his earnable compensation as the board of trustees may from time to time upon recommendation of the actuary adopt, provided that after attaining the normal service retirement age the participant may, by written notice to the board of trustees, elect not to contribute further.
Redesignated from R.S. 17:1072 pursuant to R.S. 24:253.
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