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2008 Regular Legislative Session
On behalf of the Board of Trustees and staff, we are pleased to provide the following brief descriptions of legislation that was sponsored by the Louisiana Sheriffs’ Pension Fund Board of Trustees and passed in the 2008 Regular Session of the Louisiana Legislature.
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Act 271 |
Allows for the recalculation of a reemployed retiree’s benefit as though he had not retired. Eligibility for recalculation requires:
· Reemployment no later than December 31, 2008
· Remain employed for at least three years
· Repays any benefits previously received, plus interest
at the LSPRF valuation interest rate.
Effective 06/17/08
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Act 406 |
Provides for an actuarially reduced retirement for any active, contributing member who has completed 10 years of service and has attained age 60.
Effective 07/01/08
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Act 459 |
Provides for the purchase of additional service credit by any member with a minimum of 12 years of creditable service. Any member who is eligible for regular retirement may purchase service in full month increments up to three years, at a total cost of the actuarial value of the benefits to be purchased. The request to purchase service credit must be accompanied by the member’s retirement application and once the purchase is completed , the member shall terminate employment and retire on the following business day. The cost for the actuarial calculation shall be paid by the member.
Effective 07/01/08
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The act numbers are links to the Louisiana Legislature's website where you can view the text of the bill or print a copy. You must have Acrobat Reader installed on your computer to view or print the text versions of the bills. To download a free copy of the reader click
here
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