§ 1:280. Establishment of police guarantee trust.

Latest version.

There is hereby established within the retirement system a separate trust governed by the provisions set forth below to hold assets and pay certain retirement benefits to those members who have voluntarily elected a transfer to the Municipal Police Employees' Retirement System of Louisiana. This trust is intended to be a qualified trust within the meaning of section 401(a) of the Code and exempt from federal income taxes, and shall always be construed in a manner consistent with insuring its qualification.

(Ord. No. 11669, § 2, 2-23-00; Ord. No. 15062, § 1, 12-8-10; Ord. No. 16039, § 1, 8-12-15)

                    
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