This text of Louisiana § 13:5554.14 (West Feliciana 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.
§5554.14. West Feliciana Parish; payment of group insurance premiums; retired sheriffs and deputy
sheriffs; creation of fund
A.There is hereby created the West Feliciana Parish Sheriff Retired Employees Insurance
Fund, hereinafter referred to as the "WFREIF", to help offset the payment by the sheriff's office of
West Feliciana Parish of the premium costs for eligible retired sheriffs and retired deputy sheriffs
as provided in R.S. 13:5554(G).
B.The sheriff of West Feliciana Parish may contribute to the WFREIF at his discretion.
C.Upon recommendations of the board established in Subsection F of this Section, the
sheriff of West Feliciana Parish shall invest at least twenty-five percent in fixed income investments
into the WFREIF, provided that at least seventy-five percent is rated as in
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§5554.14. West Feliciana Parish; payment of group insurance premiums; retired sheriffs and deputy
sheriffs; creation of fund
A. There is hereby created the West Feliciana Parish Sheriff Retired Employees Insurance
Fund, hereinafter referred to as the "WFREIF", to help offset the payment by the sheriff's office of
West Feliciana Parish of the premium costs for eligible retired sheriffs and retired deputy sheriffs
as provided in R.S. 13:5554(G).
B. The sheriff of West Feliciana Parish may contribute to the WFREIF at his discretion.
C. Upon recommendations of the board established in Subsection F of this Section, the
sheriff of West Feliciana Parish shall invest at least twenty-five percent in fixed income investments
into the WFREIF, provided that at least seventy-five percent is rated as investment grade by a
nationally recognized rating agency, and may invest in equities.
D.(1) The monies deposited pursuant to Subsection B of this Section and the monies invested
pursuant to Subsection C of this Section and the accumulated earnings shall be available for the
sheriff to withdraw for the sole purpose of paying the insurance costs, claims, or premiums for
retired sheriffs and retired deputy sheriffs of West Feliciana Parish, or for legal representation costs
for the WFREIF Board.
(2) In the event that the total amount of monies deposited pursuant to Subsection B of this
Section and the monies invested pursuant to Subsection C of this Section fall below the sum of one
million five hundred thousand dollars, no earnings shall be withdrawn, and any balance owed for the
payment of insurance premium costs or legal representation costs for the board established in
Subsection F of this Section shall be paid in full from the sheriff's general fund.
E. Any financial audit conducted of the sheriff's office of West Feliciana Parish shall
specifically address compliance with the provisions of this Section.
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.