§ 11:1762 — Part-time reemployment of retirees

Louisiana § 11:1762

• Jurisdiction: Louisiana
• Title 11: Consolidated Public Retirement Systems

Text

§1762. Part-time reemployment of retirees
NOTE: Subsection A terminates June 30, 2028. See Acts 2024, No. 634.
A.(1) Whenever a retiree receiving normal retirement benefits becomes reemployed
by an employer but the retiree does not meet the definition of an employee and either his
monthly earnings are equal to or less than the difference between his monthly average final
compensation and his monthly retirement benefit or the retiree has more than thirty years of
creditable service and is at least age sixty, his retirement benefits shall continue without any
reduction, and the retiree shall not be a member of the system.
(2) Whenever a retiree who has thirty years or less of creditable service and who is
receiving normal retirement benefits becomes reemployed by an employer but the retiree
does not meet the definition of an employee and his monthly earnings exceed the difference
between his monthly average final compensation and his monthly retirement benefit, his
retirement benefits shall be reduced by the amount that his monthly earnings exceed the
difference between his monthly average final compensation and his monthly retirement
benefit for every month of such employment, and the retiree shall not be a member of the
system. The calculation of monthly earnings shall not include income attributable to service
as a part-time elected official listed in R.S. 11:164.
B. For a retired member first reemployed on or after July 1, 2016, during a period
of reemployment by an employer without his meeting the definition of an employee, the
retiree and his employer shall make contributions to the retirement system as provided by this
Chapter, but the retiree shall receive no additional service credit and shall not accrue any
additional retirement benefit in the retirement system. Upon termination of reemployment,
employee contributions paid since reemployment shall, upon application, be refunded to the
retiree without interest. The retirement system shall retain the employer contributions and
interest on contributions made pursuant to this Subsection.
C. The retired member and the employer shall immediately notify the board of the
retiree's date of employment, the amount of his monthly salary, and any changes in salary,
number of hours employed per week, estimated duration of employment, and date of
termination of employment.
D. For purposes of this Section, there shall be an annual cost-of-living adjustment
to the average final compensation figure used to determine whether benefits are to be
continued or reduced. This cost-of-living adjustment shall be based upon and directly reflect
the annual percentage increase or decrease in the Consumer Price Index for the preceding
calendar year.
NOTE: Subsection A terminates June 30, 2028. See Acts 2024, No. 34, §2.

Legislative History

Added by Acts 1981, No. 225, §1; Redesignated from R.S. 33:7202 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1992, No. 1081, §1, eff. Oct. 1, 1992; Acts 2016, No. 649, §1, eff. June 17, 2016; Acts 2017, No. 314, §1, eff. June 30, 2017; Acts 2019, No. 416, §1, eff. June 20, 2019; Acts 2024, No. 634, §1.