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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 37
BY SENATOR GUILLORY
AN ACT1
To enact R.S. 11:2178.1(C)(9)(c), relative to the Sheriffs' Pension and Relief Fund; to2
provide for surviving spouse annuities; to provide for an effective date; and to3
provide for related matters.4
Notice of intention to introduce this Act has been published.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 11:2178.1(C)(9)(c) is hereby enacted to read as follows: 7
ยง2178.1. Back-Deferred Retirement Option Plan8
* * *9
C. The member's Back-DROP monthly benefit accrual shall be calculated10
based on the provisions applicable for service retirement set forth in R.S.11
11:2178(C), subject to the following conditions:12
* * *13
(9) * * *14
(c) In the event a member who elects to defer receipt of all or part of the15
lump-sum Back-DROP payment predeceases his spouse, the surviving spouse16
may make a one-time irrevocable election to have all or a part of the lump-sum17
Back-DROP benefit paid as an annuity at a rate equal to seventy-five percent18
of the interest rate available to retirees and subject to such other conditions as19
the board of trustees may approve. Surviving spouses with Back-DROP funds20
on deposit with the pension fund as of July 1, 2012, shall have until June 30,21
2013, to make this election. For those Back-DROP participants who die on or22
after July 1, 2012, their surviving spouses shall have ninety days from the date23
of the retiree's death to make this election.24
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ACT No. 530 SB NO. 37 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Section 2. This Act shall become effective on June 30, 2012; if vetoed by the1
governor and subsequently approved by the legislature, this Act shall become effective on2
June 30, 2012, or on the day following such approval by the legislature, whichever is later.3
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: