La. Admin. Code tit. 58 § I-3703
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-3703 - Lump Sum Payment of LeaveA. An employee, in lieu of conversion of leave to retirement credit, may request in writing that he be paid the actuarial value of such leave, as determined by the retirement system's actuary, in a lump sum cash payment. The employee shall be paid the actuarial value of the conversion of leave to cash. This lump sum cash payment shall be paid to the employee on the first of the month after all pertinent documentation is received from the employee's employing agency needed to finalize the employee's retirement benefit.La. Admin. Code tit. 58, § I-3703
Promulgated by the Department of Treasury, Board of Trustees of the State Employees' Retirement System, LR 29:1122 (July 2003).AUTHORITY NOTE: Promulgated in accordance with R.S. 11:511 and R.S. 11:515.