Plain English Breakdown
The official source material does not provide specific details about other parts of the Sheriffs' Pension and Relief Fund rules that are unaffected by this act.
Changes to the Back-Deferred Retirement Option Plan for Sheriffs
This act modifies the rules for a retirement program called Back-DROP within Louisiana's Sheriffs' Pension and Relief Fund, allowing certain members with specific years of service to extend their participation period.
What This Bill Does
- Amends the existing law regarding the Back-Deferred Retirement Option Plan (Back-DROP) in the Sheriffs' Pension and Relief Fund.
- Allows members who have at least thirty but less than thirty-five years of service to choose a Back-DROP period up to forty-eight months.
- Permits members with thirty-five or more years of service to select a Back-DROP period up to sixty months.
Who It Names or Affects
- Members of the Sheriffs' Pension and Relief Fund who have at least thirty years of service.
Terms To Know
- Back-Deferred Retirement Option Plan (Back-DROP)
- A program that allows members to delay receiving their pension benefits for a period after they retire, which can increase the amount of their pension.
Limits and Unknowns
- The act only affects members who have at least thirty years of service.
- It does not change other parts of the Sheriffs' Pension and Relief Fund rules that are unrelated to Back-DROP.