Senate Bill No. [insert bill number] proposes the establishment of the St. Charles Parish Retired Employees Insurance Fund (SCREIF) to assist in covering the group insurance premium costs for eligible retired sheriffs and deputy sheriffs of the St. Charles Parish Sheriff's Office. The bill allows the sheriff to contribute to the fund at their discretion and mandates that at least 25% of the fund be invested in equities and another 25% in fixed income investments, with specific requirements for the quality of fixed income investments. Earnings from these investments can be withdrawn to cover insurance premiums or legal representation costs, but only after the fund reaches a minimum of $4 million. If the fund's total falls below this threshold, any outstanding insurance costs must be paid from the sheriff's general fund.

Additionally, the bill requires that any financial audits of the sheriff's office address compliance with the provisions of the new law. It also establishes a three-member investment advisory board to provide recommendations on fund investments, consisting of the sheriff or their designee, one retired sheriff or deputy sheriff, and one active deputy sheriff, all appointed by the sheriff. The board is required to meet within 30 days of member appointments and elect a chairperson during their first meeting. The proposed law is set to take effect on August 1, 2026.