The bill amends and reenacts certain provisions of the Municipal Police Employees' Retirement System and the Firefighters' Retirement System, specifically addressing membership, partial dissolution of departments, and payment of unfunded accrued liabilities by employers. Notably, it requires that any employee opting out of membership must submit a notarized affidavit signed by the chief of police or the mayor of the municipality. Additionally, the bill introduces new definitions and clarifies the conditions under which a fire department is considered to have partially dissolved, including adjustments to the calculation of unfunded accrued liabilities based on employee counts.

Furthermore, the bill modifies the timing of payments related to partial dissolutions, stipulating that payments will begin on July 1 of the third fiscal year following a determination of partial dissolution, rather than the second fiscal year as previously required. It also repeals certain existing provisions related to the calculation of unfunded accrued liabilities and the conditions for determining partial dissolution. Overall, the bill aims to streamline the processes and clarify the responsibilities of employers within these retirement systems.

Statutes affected:
HB1237 Original: 11:157(C)(1), 11:1(A), 11:4(A)(2)