This bill amends R.S. 11:1762(A) concerning the Municipal Employees' Retirement System, specifically addressing the retirement benefits of retirees who return to part-time employment in positions covered by the system. The new provisions allow retirees receiving normal retirement benefits to continue receiving their benefits without reduction if their monthly earnings are equal to or less than the difference between their monthly average final compensation and their monthly retirement benefit, or if they have more than thirty years of creditable service and are at least age sixty. Additionally, it clarifies that retirees with thirty years or less of creditable service will have their benefits reduced if their earnings exceed the specified threshold.

The bill also includes a termination clause stating that the provisions will expire on June 30, 2028. Overall, the changes aim to provide more flexibility for retirees returning to work while ensuring that their retirement benefits are protected under certain conditions.

Statutes affected:
HB744 Original: 11:1762(A)(1), 11:1762(A)(2)
HB744 Engrossed: 11:1762(A)
HB744 Reengrossed: 11:1762(A)
HB744 Enrolled: 11:1762(A)
HB744 Act 634: 11:1762(A)