2006 Louisiana Laws - RS 11:3731 — Merger with municipal police employees\' retirement system

§3731.  Merger with Municipal Police Employees' Retirement System

The following provisions shall apply in the event that the city of Shreveport enters into an agreement with the board of trustees of the Municipal Police Employees' Retirement System, hereinafter referred to as the System, as authorized by R.S. 11:2225(A)(11), to merge the Policemen's Pension and Relief Fund of the city of Shreveport hereinafter referred to as the Fund with the System:

A.  For purposes of securing the approval of the active members of the municipal police retirement plan as required by R.S. 11:2225(A)(11), all members of the Fund shall be deemed to be members of a single municipal police retirement plan regardless of the different contributions that various members are required to make to the Fund or the different benefits that various members are entitled to draw from the Fund.  Only those members who are active members of the police department of the city of Shreveport when approval of a merger is required shall be eligible to vote on whether to approve the merger agreement.

B.  The city of Shreveport is specifically authorized to contract with the members of its police department to guarantee that the merger will not result in any member receiving less in regular retirement benefits provided he meets the age and service requirements of the Fund for a regular retirement benefit, than the member would have received if the Fund had not been merged with the System; provided further, if a member becomes disabled or survivor benefits become payable after the effective date of the merger, the System shall pay such benefits; and the Fund shall pay the difference in disability or survivors benefits at the time such benefits become payable, if the benefits would have been greater under the Fund.  Any contract entered into pursuant to the authority granted by this Subsection may designate the entity that will be responsible for administering benefits and resolving disputes that arise under the contract.

C.  To the extent that any persons who are not merged into the System remain entitled to benefits under the Fund, the Fund shall remain in existence and the board of trustees of the Fund shall continue to administer benefits in accordance with the provisions governing its operations at the time of the merger; however, nothing in this Subsection shall be construed to preclude the legislature from making future changes in the Fund, the board of trustees, or the administration of the Fund.

D.  Repealed by Acts 2006, No. 710, §2, eff. June 29, 2006.

E.  If, in any fiscal year following a merger between the Fund and the System, the proceeds accruing to the Fund as provided in R.S. 11:3711, et seq., should, when combined with other assets of the Fund, cause the assets of the Fund to exceed its accrued liabilities under this Section, the city of Shreveport may use the excess of the proceeds to make any payments due to the System, or, if all payments due to the System have been made, the city of Shreveport shall use the excess of the proceeds to pay salaries and wages of Shreveport police officers.

F.  Nothing in R.S. 11:3712, R.S. 11:3713, or R.S. 11:3714, or any other provision of law shall be construed to preclude the trustees from transferring funds or assets of the Fund to the Municipal Police Employees' Retirement System in the event the city of Shreveport and the trustees of the Municipal Police Employees' Retirement System enter into a merger agreement as authorized by R.S. 11:2225.

Added by Acts 1982, No. 19, §1, eff. July 9, 1982; Redesignated from R.S. 33:2370.1 by Acts 1991, No. 74, §3, eff. June 25, 1991; Redesignated from R.S. 33:2370.1 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2006, No. 710, §2, eff. June 29, 2006.