This text of Louisiana § 13:5554.13 (LaSalle Parish; payment of group insurance premiums; retired sheriffs and deputy) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§5554.13. LaSalle Parish; payment of group insurance premiums; retired sheriffs and deputy
sheriffs; creation of fund
A. There is hereby created the LaSalle Parish Sheriff Retired Employees Insurance Fund,
hereinafter referred to in this Section as the "LSREIF", to help offset the payment by the sheriff's
office of LaSalle Parish of the premium costs for eligible retired sheriffs and retired deputy sheriffs
as provided in R.S. 13:5554(M).
B. The sheriff of LaSalle Parish may contribute to the LSREIF at his discretion.
C. Upon recommendations of the board established in Subsection F of this Section, the
sheriff of LaSalle Parish shall invest the funds into the Louisiana Asset Management Pool.
D.
(1)The earnings realized on the monies invested pursuant to Subsection C of this Section
shall b
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§5554.13. LaSalle Parish; payment of group insurance premiums; retired sheriffs and deputy
sheriffs; creation of fund
A. There is hereby created the LaSalle Parish Sheriff Retired Employees Insurance Fund,
hereinafter referred to in this Section as the "LSREIF", to help offset the payment by the sheriff's
office of LaSalle Parish of the premium costs for eligible retired sheriffs and retired deputy sheriffs
as provided in R.S. 13:5554(M).
B. The sheriff of LaSalle Parish may contribute to the LSREIF at his discretion.
C. Upon recommendations of the board established in Subsection F of this Section, the
sheriff of LaSalle Parish shall invest the funds into the Louisiana Asset Management Pool.
D.(1) The earnings realized on the monies invested pursuant to Subsection C of this Section
shall be available for the sheriff to withdraw for the sole purpose of paying the insurance premium
costs provided in R.S. 13:5554(M) for retired sheriffs and retired deputy sheriffs of LaSalle Parish,
legal representation costs for the LSREIF Board, or both, provided that no such earnings shall be
withdrawn until the amount of principal and accumulated earnings in the LSREIF are equal to the
sum of two million five hundred thousand dollars.
(2) In the event that the total amount of monies derived from deposits provided in Subsection
B of this Section and investment earnings fall below the sum of two million five hundred thousand
dollars, no earnings shall be withdrawn, and any balance owed for the payment of insurance
premium costs as required by R.S. 13:5554(M) or legal representation costs for the LSREIF Board
shall be paid in full from the sheriff's general fund.
E. The legislative auditor shall audit the fund annually and audit costs shall be paid by the
sheriff of LaSalle Parish from the sheriff's general fund.
F.(1) To provide recommendations concerning the investment of funds as provided in
Subsection C of this Section, the sheriff shall establish an investment advisory board consisting of
three members as follows:
(a) The sheriff or his designee.
(b) One retired sheriff or retired deputy sheriff of the department, appointed by the sheriff,
who shall serve a term determined by the sheriff.
(c) One active deputy sheriff of the department, appointed by the sheriff, who shall serve a
term determined by the sheriff.
(2) The members of the board shall elect a chairperson at its first board meeting, which shall
be held within thirty days after the appointment of board members.
(3) Any board vacancy shall be filled within sixty days of the date that the vacancy occurs.