Plain English Breakdown
The bill summary and digest do not provide specific details on the number of sheriffs affected or how the actuarially reduced benefit is calculated, so these remain unknowns.
Sheriffs' Pension and Relief Fund Retirement Eligibility
This act changes the retirement eligibility rules for members of the Sheriffs' Pension and Relief Fund who started their employment after January 1, 2012.
What This Bill Does
- Changes the retirement rules for eligible sheriffs in Louisiana's pension fund.
- Allows eligible members to retire with an actuarially reduced benefit if they are over 50 years old and have at least 30 years of service.
- Requires that members apply in writing to receive their benefits.
Who It Names or Affects
- Sheriffs who started working after January 1, 2012
- The Sheriffs' Pension and Relief Fund
Terms To Know
- actuarially reduced retirement benefit
- A pension that is less than the full amount a person would receive if they waited until age 55 to retire.
- creditable service
- The years of employment that count towards a member's eligibility for retirement benefits in the fund.
Limits and Unknowns
- Does not specify how many sheriffs will be affected by these changes.
- Does not provide details on how the actuarially reduced benefit is calculated.