1. A. The New Orleans Firefighters Pension and Relief Fund is a tax-qualified governmental plan. The following provisions shall apply:

   1. 1. The assets of the fund shall be held for the exclusive benefit of the members of the fund, the retirees thereof, and the survivors and beneficiaries of the retirees and members. No part of the assets held by the fund shall be used or diverted for any reason, including any contingency or event or by any other means, to other purposes, including but not limited to reversion to any employer.
   2. 2. The retirement benefit of a member shall be fully vested and nonforfeitable no later than the date on which he becomes eligible to retire. Benefits of members shall also become vested and nonforfeitable upon the termination of the fund or the complete discontinuance of contributions to the system.
   3. 3. Forfeitures shall not be used to increase the benefits of the remaining members of the fund. This shall specifically not preclude any increase in benefits by amendment to the benefit formula made possible by a change in contribution rate, favorable investment results, or other means.
   4. 4. A member’s benefit shall begin to be distributed not later than the latest date provided for the commencement of benefits for governmental plans under IRC §401(a)(9)(C). Distributions to a surviving spouse, dependent, successor and/or beneficiary of a member shall be made at least as soon as distributions are required to be made by qualified governmental plans under IRC § 401(a)(9). Benefits payable shall be limited in accordance with IRC § 415 and applicable Treasury Regulations as applied to governmental plans.
   5. 5. In computing benefit accruals, there shall not be taken into account compensation in excess of the limitations specified in IRC §401(a)(17).
   6. 6. The fund, its trustees, consultants, and advisors shall not engage in any prohibited transactions as that term is defined in IRC § 503.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:3363.

Historical Note

HISTORICAL NOTE: Promulgated by the Board of Trustees of the Firefighters’ Pension and Relief Fund for the City of New Orleans and Vicinity, LR 5237:1392 (May 2011), amended by the Board of Trustees of the Firefighters’ Pension and Relief Fund for the City of New Orleans and Vicinity, LR 52:222 (February 2026).