HLS 14RS-534 ENGROSSED
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2014
HOUSE BILL NO. 61
BY REPRESENTATIVE POPE
INSURANCE/GROUP-SHERI FFS: Provides relative to the Livingston Parish Retired
Employees' Insurance Fund
AN ACT1
To amend and reenact R.S. 13:5554.2(C)(2) and (G)(1)(a), relative to the Livingston Parish2
Retired Employees' Insurance Fund; to provide relative to the administration of the3
Livingston Parish Retired Employees' Insurance Fund; to provide for the investment4
of fund monies; to provide for members of the investment advisory board; and to5
provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 13:5554.2(C)(2) and (G)(1)(a) are hereby amended and reenacted to8
read as follows:9
ยง5554.2. Livingston Parish; payment of group insurance premiums; retired sheriffs10
and deputy sheriffs; creation of fund11
* * *12
C. Upon recommendation of the board established in Subsection G of this13
Section, the sheriff of Livingston Parish shall invest the monies in LREIF as follows:14
* * *15
(2) At least twenty-five percent in fixed-income investments , provided that16
the average credit quality of the fixed-income portion is rated investment grade.17
* * *18 HLS 14RS-534 ENGROSSED
HB NO. 61
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
G.(1) To provide recommendations concerning the investment of funds as1
provided in Subsection C of this Section, the sheriff shall establish an investment2
advisory board consisting of seven members as follows:3
(a) The comptroller of the sheriff's department A representative to be4
appointed by the sheriff.5
* * *6
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)]
Pope HB No. 61
Abstract: Provides for the administration of the LREIF and investment of fund monies and
membership of the investment advisory board.
Present law provides that monies in the Livingston Parish Retired Employees ' Insurance
Fund (LREIF) shall invest not less than 25% in fixed-income investments provided that the
average credit quality of the fixed-income portion is rated investment grade.
Proposed law retains present law except that it deletes the requirement that the average credit
quality of the fixed-income portion is rated investment grade.
Present law requires that the sheriff establish an investment advisory board to provide
recommendations concerning the investment of funds to consist of the following seven
members:
(1)The comptroller of the sheriff's department.
(2)Five retired sheriffs or retired deputy sheriff of the department, elected by other
retired sheriffs and retired deputy sheriffs of the department.
(3)One active deputy sheriff of the department elected by the other active deputy
sheriffs of the department.
Proposed law retains present law except that it changes the comptroller of the sheriff
department as a board member to a representative appointed by the sheriff.
(Amends R.S. 13:5554.2(C)(2) and (G)(1)(a))