This bill amends R.S. 11:2221(C) concerning the Municipal Police Employees' Retirement System, specifically addressing the Deferred Retirement Option Plan (DROP). The legislation allows for an extension of participation in the DROP for certain members. It specifies that while the standard duration of participation is capped at five years, if employer contributions are suspended due to an interruption of employment, the participant's duration can be extended by the number of months their benefit payments were suspended, allowing for a maximum of sixty nonconsecutive months of participation.

Additionally, the bill introduces provisions for participants who began their DROP participation on or before June 30, 2024, and initially elected a three-year participation period. These individuals may opt to extend their participation to a total of five years, provided they notify the board of trustees in writing by a specified deadline. The bill aims to provide greater flexibility for members of the retirement system while ensuring that the necessary administrative processes are followed.

Statutes affected:
HB17 Original: 11:2221(C)
HB17 Engrossed: 11:2221(C)
HB17 Enrolled: 11:2221(C)
HB17 Act : 11:2221(C)