SLS 12RS-94 ORIGINAL Page 1 of 5 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. Regular Session, 2012 SENATE BILL NO. 28 BY SENATOR CORTEZ STATE POLICE RET FUND. Relative to benefits for members of the State Police Retirement System. (6/30/12) AN ACT1 To amend and reenact R.S. 11:1305(A)(1), (C)(1) and (2), 1307(A)(1) and (2)(b), (B), and2 (D)(1), 1345.3, 1345.4(introductory paragraph), (A), (B), and (C), and 1345.5,3 relative to the State Police Pension and Retirement System; to provide relative to4 membership, contributions, eligibility for and calculation of benefits; to provide for5 an effective date; and to provide for related matters.6 Notice of intention to introduce this Act has been published.7 Be it enacted by the Legislature of Louisiana:8 Section 1. R.S.11:1305(A)(1), (C)(1) and (2), 1307(A)(1) and (2)(b), (B), and (D)(1),9 1345.3, 1345.4(introductory paragraph), (A), (B) and (C), and 1345.5 are hereby amended10 and reenacted to read as follows:11 §1305. Membership in pension and retirement system; credit for unclassified12 service prohibited; exceptions13 A. Membership in the State Police Pension and Retirement System shall14 consist of the following:15 (1) Sworn, commissioned law enforcement officers of the office of state16 police of the Department of Public Safety and Corrections who have satisfactorily17 SB NO. 28 SLS 12RS-94 ORIGINAL Page 2 of 5 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. completed the State Police Training Academy Course of Instruction, as provided by1 pursuant to Act No. 320 of the 1975 Louisiana Legislature and Act No. 94 of the2 1936 Louisiana Legislature, except those employed under the provisions of R.S.3 40:1388 and 1389, who were in the employ of the former division of state police on4 the date of establishment of this system or who are subsequently employed or who5 were employed and left on deposit the amount paid into the system, and sworn6 commissioned law enforcement officers of the office of state police who were7 transferred to other offices of the Department of Public Safety and Corrections8 pursuant to the Executive Reorganization Act prior to January 1, 1979.9 * * *10 C.(1) Notwithstanding any provision of law to the contrary, and particularly11 R.S. 11:1307 or any other provision of this Section, any state police employee who12 is a sworn, commissioned law enforcement officer of the office of state police, who13 serves in an active capacity in an unclassified position in the Department of Public14 Safety and Corrections, and who has previously contributed to this system, shall be15 eligible to continue contributing and accruing creditable service credit in this16 system.17 (2) Any employee described in Paragraph (1) of this Subsection shall be18 entitled to have his or her salary earned in such unclassified capacity included in the19 calculation of retirement benefits which accrue to the employee under this system.20 * * *21 §1307. Persons eligible to retire on basis of service and age; retirement benefits22 A. Upon application to the board as provided in R.S. 11:1306, members of23 this system shall be retired by the board at benefits fixed as follows:24 (1) Any member of the system, whose first employment making him or her25 eligible for membership in one of the state systems occurred on or before December26 31, 2010, and who has attained age fifty and who has credit for at least ten years of27 service shall be paid a monthly benefit equal to the sum of three and one-third28 percent multiplied by the member's monthly average salary, and further multiplied29 SB NO. 28 SLS 12RS-94 ORIGINAL Page 3 of 5 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. by the number of years of service credited to the member's account, but the total1 annual benefit shall not exceed one hundred percent of the member's final average2 annual salary.3 (2) * * *4 (b) Any member of the system whose initial date of employment occurred on5 or after September 8, 1978, and whose first employment making him or her eligible6 for membership in one of the state systems occurred on or before December 31,7 2010, who has credit for at least twenty-five years of service, regardless of age, shall8 be paid a monthly benefit equal to the sum of three and one-third percent multiplied9 by the member's monthly average salary, and further multiplied by the number of10 years of service credited to the member's account, but the total annual benefit shall11 not exceed one hundred percent of the member's final average annual salary.12 * * *13 B. Any member of the system who is a commissioned member of the office14 of state police who has at least twenty years of active service and who retires under15 the provisions of this Section shall be entitled to purchase his or her firearm at fair16 market value, upon retirement, subject to the approval of the deputy secretary of17 public safety services of the department.18 * * *19 D.(1) Regardless of the compensation actually paid to a member, retirement20 benefits from the State Police Pension and Retirement System shall be as provided21 in this Chapter, except that his or her retirement benefits shall not exceed the22 amount he would receive, assuming for computation purposes his or her earnings23 were equal to the highest step of the pay range for the highest classified position in24 the office of state police. The member's contributions shall be based upon the above25 salary assumed for computation purposes.26 * * *27 §1345.3. Eligibility for membership28 Each person who would be eligible for system membership pursuant to R.S.29 SB NO. 28 SLS 12RS-94 ORIGINAL Page 4 of 5 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. 11:1305 but whose first employment making him or her eligible for membership in1 one of the state systems occurred on or after January 1, 2011, shall become a2 member of the New State Police Retirement Plan of the system as a condition of3 employment.4 * * *5 §1345.4. Eligibility for retirement6 Any member shall be eligible for retirement if he or she has:7 A. Twenty-five years or more of service credit, at any age.8 B. Twelve years or more of service credit, at age fifty-five or thereafter.9 C. Twenty years of service credit at any age, exclusive of military service10 and unused annual and sick leave, but any person retiring under this Subsection shall11 have his or her benefit, inclusive of military service credit and allowable unused12 annual and sick leave, actuarially reduced from the earliest age that he would13 normally become eligible for a regular retirement benefit under Subsection A or B14 of this Section if he had continued in service to that age. Any employee who elects15 to retire under the provisions of this Subsection shall not be eligible to participate in16 the Back-Deferred Retirement Option Program provided by R.S. 11:1312.1 or the17 Initial Benefit Option provided by R.S. 11:1307(E).18 * * *19 §1345.5. Retirement benefit20 A member shall receive a retirement equal to three and one-third percent of21 average compensation for every each year of creditable service in the plan, not to22 exceed one hundred percent of the member's average compensation.23 * * *24 Section 2. This Act shall become effective on June 30, 2012; if vetoed by the25 governor and subsequently approved by the legislature, this Act shall become effective on26 June 30, 2012, or on the day following such approval by the legislature, whichever is later.27 SB NO. 28 SLS 12RS-94 ORIGINAL Page 5 of 5 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions. The original instrument and the following digest, which constitutes no part of the legislative instrument, were prepared by Lauren Bailey. DIGEST Proposed law relative to the State Police Pension and Retirement System provides for changes in present law regarding membership, contributions, and eligibility for and calculation of benefits. Effective June 30, 2012. (Amends R.S.11:1305(A)(1), (C)(1) and (2), 1307(A)(1) and (2)(b), (B), and (D)(1), 1345.3, 1345.4(intro. para.), (A), (B), and (C), and 1345.5)