Louisiana 2023 2023 Regular Session

Louisiana House Bill HB345 Comm Sub / Analysis

                    RÉSUMÉ DIGEST
ACT 144 (HB 345) 2023 Regular Session	LaCombe
Existing law (R.S. 13:5554(G)) applicable to the sheriff's office of Pointe Coupee Parish
provides that premium costs of group hospital, surgical, and medical expenses shall be paid
from the sheriff's general fund for any sheriff or deputy sheriff who has retired from the
Pointe Coupee Parish Sheriff's Office and have either:
(1)At least 15 years of service and have reached the age of 55.
(2)At least 30 years of service at any age.
New law creates the Pointe Coupee Parish Retired Employees Insurance Fund (PCREIF), to
fund the payment by the Pointe Coupee Parish Sheriff's Office for the premium costs of
insurance for retired sheriffs and deputy sheriffs as provided in existing law.
New law provides that the sheriff of Pointe Coupee Parish may contribute to the PCREIF at
his discretion.
New law provides that monies deposited by the sheriff at his discretion and the monies
deposited by the sheriff as required by the investment advisory board shall be available for
the sheriff to withdraw for the purpose of paying the insurance premium costs, claims, or
premiums for retired sheriffs and retired deputy sheriffs of Pointe Coupee Parish, or for legal
representation costs for the PCREIF Board.  Provides that if the deposits and earnings on
investments falls below $2,000,000, no earnings shall be withdrawn and any balance owed
for the payment of insurance premium costs or legal representation costs shall be paid in full
from the sheriff's general fund.
New law requires that any financial audit of the sheriff's office of Pointe Coupee Parish be
in compliance with the provisions of new law.
New law requires the sheriff to establish a three-member investment advisory board
consisting of three members as follows:
(1)The sheriff or his designee.
(2)One retired sheriff or retired deputy sheriff of the department, appointed by the
sheriff.
(3)One active deputy sheriff of the department, appointed by the sheriff.
New law provides that the initial term of the advisory board shall begin July 1, 2023, and
shall end June 30, 2024.  Provides that the terms thereafter shall be four-year terms to run
contemporaneous with the sheriff's term.
New law requires the board to meet within 30 days after appointment of members and
provides for election of a chairperson at the first meeting of the board.
New law provides eligibility requirements to receive payments from the PCREIF.
Effective August 1, 2023.
(Adds R.S. 13:5554.11)