HLS 12RS-1059 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 988
BY REPRESENTATIVE JONES
RETIREMENT/FIREFIGHTERS: Provides for a five-year deferred retirement option plan
for certain members of the Firefighters' Retirement System
AN ACT1
To amend and reenact R.S. 11:2257(C), relative to the Firefighters' Retirement System; to2
provide for a five-year deferred retirement option plan period for certain members;3
to provide for qualifications; to authorize an extension of the period for members4
currently in the plan; and to provide for related 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. 11:2257(C) is hereby amended and reenacted to read as follows: 10
ยง2257. Deferred Retirement Option Plan11
* * *12
C. The duration of participation in the plan shall be specified and shall not13
exceed three years. the following:14
(1) Three years for any member who has at least twenty but less than twenty-15
seven years of creditable service.16
(2) Five years for any member who has at least twenty-seven years of17
creditable service.18
* * *19 HLS 12RS-1059 ORIGINAL
HB NO. 988
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Section 2. Any person who has at least twenty-seven years of creditable service and1
who is participating in the deferred option retirement plan on the effective date of this Act2
shall be allowed to extend his participation in the plan up to the five-year period provided3
for in this Act.4
Section 3. This Act shall become effective upon signature by the governor or, if not5
signed by the governor, upon expiration of the time for bills to become law without signature6
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If7
vetoed by the governor and subsequently approved by the legislature, this Act shall become8
effective on the day following such approval.9
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Jones HB No. 988
Abstract: Relative to the Firefighters' Retirement System (FRS), provides for a five-year
deferred option retirement plan (DROP) for members with 27 or more years of
creditable service.
Present law creates the DROP program within FRS. Upon entering DROP, the member's
retirement benefit accrual and calculation are frozen, and he defers receipt of his retirement
benefits while he continues to work. The benefits he would have received are instead
deposited into an account during his time in DROP. Upon completion of this DROP
election, the member may formally separate from service, collect the sum accumulated in
his DROP account, and begin to collect his retirement benefit. Proposed law retains present
law.
Present law provides for up to a three-year DROP period for any member who has at least
20 years of creditable service. Proposed law provides for up to a three-year DROP period
for any member who has at least 20 but less than 27 years of creditable service. Proposed
law provides for a five-year DROP period for any member who has at least 27 years of
creditable service.
Proposed law further allows a member with 27 years of creditable service who is
participating in DROP at the time proposed law becomes effective to extend his DROP
participation period to the five-year total provided for in proposed law.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 11:2257(C))