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ACT No. 482
Regular Session, 2012
HOUSE BILL NO. 50
BY REPRESENTATIVE PEARSON
AN ACT1
To enact R.S. 11:1404(F), 1411(E), and 1446, relative to the Assessors' Retirement Fund;2
to provide for compliance with federal tax qualification requirements; to provide3
relative to benefits accrued during military service; and to provide for related4
matters.5
Notice of intention to introduce this Act has been published6
as provided by Article X, Section 29(C) of the Constitution7
of Louisiana.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 11:1404(F), 1411(E), and 1446 are hereby enacted to read as follows:10
§1404. Amendment of provisions of retirement system11
* * *12
F. Amendments to the retirement system required for the purpose of13
maintaining continued compliance with the Internal Revenue Code and the14
regulations thereunder that do not require legislative action shall be promulgated as15
rules in accordance with the Administrative Procedure Act.16
* * *17
§1411. Creditable service18
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E. The qualified military service of a member who has been reemployed in20
accordance with 26 U.S.C. 414(u) shall be treated for vesting and benefit accrual21
purposes as service completed under Subsection A of this Section if the member22
timely remits to the system any employee contributions which would have been23 ENROLLEDHB NO. 50
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required but for the member's leave of absence to perform qualified military service1
in accordance with the terms of federal law.2
* * *3
§1446. Military survivor benefits4
Effective January 1, 2007, if a member dies while on a leave of absence to5
perform qualified military service as described in 26 U.S.C. 414(u), his beneficiary6
shall be entitled to any benefit, except benefits that accrued during the period of7
qualified military service that would have been provided under the plan had the8
member resumed and then terminated employment due to death, in accordance with9
26 U.S.C. 401(a)(37); however, the member's beneficiary shall be entitled to benefits10
that accrued during the period of qualified military service if the beneficiary timely11
remits to the system any employee contributions which would have been required but12
for the member's leave of absence to perform qualified military service in accordance13
with the terms of federal law and R.S. 11:1411.14
Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor15
and subsequently approved by the legislature, this Act shall become effective on July 1,16
2012, or on the day following such approval by the legislature, whichever is later.17
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: