§ 23-221. Definitions.

The following words and phrases, as used in this division, unless a different meaning is plainly required by the context, shall have the following meanings:

Accumulated contributions shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund together with regular interest thereon as provided in section 23-227 of this division.

Actuarial equivalent shall mean a benefit of equal value when computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest.

Annuity shall mean payments for life derived from the "accumulated contributions" of a member. All annuities shall be payable in equal monthly installments.

Annuity reserve shall mean the present value of all payments to be made on account of any benefit computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest.

Average final compensation shall mean the average annual earned compensation of an employee for any period of thirty-six (36) successive or joined months of service as an employee during which the said earned compensation was the highest. In the case of interruption of employment, the thirty-six-month period shall be computed by joining employment periods immediately preceding and succeeding the interruption.

Beneficiary shall mean any person designated to receive a pension, an annuity, a retirement allowance or other benefit as provided by this division.

Board of trustees shall mean the board provided for in section 23-226 of this division to administer the retirement system.

Creditable service shall mean service for which credit is allowable as provided in section 23-224 of this division.

Employee shall mean any person whose compensation is paid wholly or partly by said Jefferson Parish but excluding all persons employed by a parish board or agency which does not elect to cancel their agreement with the Public Employees Board of the State of Louisiana covering Social Security. "Employee" shall, also, mean a person employed by this retirement system. "Employee" shall not mean any person excluded from membership under section 23-223 hereof.

Employer shall mean the Jefferson Parish Council or any other governing body of the parish which employs and pays persons serving the parish and which elects to cancel its agreement extending Social Security Benefits to its employees. "Employer" shall mean, also, this retirement system. "employer" shall not mean the parish school board.

Medical board shall mean the board of physicians provided for in section 23-226 of this division.

Member shall include any employee, as defined in this section or elected official included in the membership of this system as provided in section 23-223 of this division and any employee of the board of trustees of this system or any employee of sheriff's office who is not excluded under section 23-223 hereof.

Membership service shall mean service as an employee while a member of this system.

Pensions shall mean payments for life derived from money provided by the employer or employing agency.

Prior service shall mean service rendered prior to the date of the establishment of this retirement system for which credit is allowable as provided in section 23-224 of this division.

Retirement shall mean withdrawal from active service with a retirement allowance granted under the provisions of this division.

Retirement allowance shall mean the sum of the "annuity" and the "pensions," or any optional benefit payable in lieu thereof.

Retirement system shall mean the employees retirement system of Jefferson Parish, Louisiana, as defined in section 23-222 of this division.

Service shall mean service rendered as an employee as described in this section.

(Ord. No. 11027, § 1, 1-18-73; Ord. No. 11952, § 1, 3-6-75)