§ 1-112. Retirement plan.

(a)

Membership compulsory. Membership in the Louisiana Parochial Employees Retirement System is mandatory as a condition of employment beginning on date employed if the employee is on a permanent basis working at least twenty-eight (28) hours per week, not participating in another public-funded retirement system, and under sixty (60) years of age at time employed. Membership is cancelled only by death, termination of employment or retirement.

(b)

Contributions.

(1)

Employee contributions—Nine and twenty-five hundredths (9.25) per cent of earnings from each and every payment of earnings.

(2)

Employer contributions—Seven and fifteen hundredths (7.15) per cent of each and every member's earnings.

(c)

Retirement eligibility.

(1)

Thirty (30) years' creditable service, regardless of age.

(2)

Twenty-five (25) years' creditable service, age fifty-five (55).

(3)

Ten (10) years' creditable service, age sixty (60).

(4)

Disability requires five (5) years' creditable service.

(5)

Survivor's benefits requires five (5) years' creditable service at death of the member.

(d)

Ineligibility. The retirement law prohibits membership in more than one public-funded retirement system, nor shall any person who has retired from service under any retirement system of this state partly or wholly financed by public funds and who is receiving retirement benefits therefrom be eligible to become a member of this system.

(e)

Vesting. A member who withdraws from active service, having at least ten (10) years' creditable service, has earned vested rights and may leave his funds on deposit for a deferred retirement when he meets eligibility requirements.

(f)

Refunds. Should a member cease to be an employee, he/she should request a refund of accumulated contributions at time of termination. This request should be made to the parish personnel department. Proper forms must be signed by the employee.

(g)

Repayment of refunds. Any member who has withdrawn his/her contributions shall be entitled to repay his/her refund, plus six (6) per cent interest compounded annually to re-establish creditable service, after five (5) years' current membership.

(h)

Temporary employment. Any person who has retired from this retirement system may be temporarily employed by his/her former employer or other police jury or special taxing district or board participating in this retirement system. However, if the retiree is employed during the fiscal year for more than sixty (60) actual working days, his/her retirement benefits shall be reduced during the following fiscal year by the amount earned after sixty (60) actual working days.

(Ord. No. 12-20-76, § 5.6; Ord. of 3-17-80)