House Bill No. [insert number] aims to enact R.S. 11:1751.2, which introduces provisions regarding membership in the Municipal Employees' Retirement System and the Louisiana State Employees' Retirement System. The bill allows individuals who have at least five years of creditable service in the Municipal Employees' Retirement System and who transition to a position eligible for the Louisiana State Employees' Retirement System to opt to remain members of the Municipal Employees' Retirement System. This option requires the individual to file a written notice of election with the board of trustees within thirty days of their new employment, and the election is irrevocable.
The provisions of this Act will apply to individuals who begin employment in positions covered by the Louisiana State Employees' Retirement System after December 31, 2024. Those employed in such positions between December 31, 2024, and the effective date of the Act will also have a thirty-day window to file their election to remain in the Municipal Employees' Retirement System. The funding for any costs associated with this Act will come from additional employer contributions, and the Act will take effect upon the governor's signature or after the designated period for bills to become law without a signature.