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)]
HB 98 Engrossed 2019 Regular Session DuBuisson
Abstract: Creates the St. Tammany Parish Retired Employees' Insurance Fund; provides for the
depositing of certain monies into the fund, including limitation on investments and
withdrawal of funds; and provides for the composition and election of members of the
investment advisory board.
Proposed law creates the St. Tammany Parish Retired Employees' Insurance Fund (STREIF), to fund
the payment by the sheriff's office of St. Tammany Parish of the insurance premium costs for eligible
retired sheriffs and retired deputy sheriffs.
Proposed law provides that the sheriff of St. Tammany Parish shall invest the monies in STREIF as
follows:
(1)Not less than 25% in equities.
(2)At least 25% in fixed income investments, provided that a minimum of 25% of the fixed
income portion is rated as investment grade by a nationally recognized rating agency.
Proposed law requires the sheriff to establish an investment advisory board consisting of five
members as follows:
(1)The controller of the sheriff's department.
(2)Four active deputy sheriffs, retired sheriffs, or retired deputy sheriffs elected by other active
deputy sheriffs of the department.
Proposed law provides for election of members, filling of vacancies, election of a chairperson, terms
of office, and the adoption of rules by the board.
(Adds R.S. 13:5554.5)