2009 Louisiana Laws TITLE 11 Consolidated public retirement :: RS 11:546 Adult probation and parole officer retirement fund

§546.  Adult Probation and Parole Officer Retirement Fund

A.  There is hereby established in the state treasury a special fund to be known as the Adult Probation and Parole Officer Retirement Fund, hereafter in this Section, the "fund".

B.  Beginning with the 2009-2010 Fiscal Year and for each fiscal year thereafter, and after allocation of money to the Bond Security and Redemption Fund as provided in Article VII, Section 9(B) of the Constitution of Louisiana, the treasurer shall deposit in and credit to the fund on a monthly basis an amount equal to the sum collected for the processing fee charged pursuant to R.S. 15:574.4.2 less any decrease from other parole and probation fees collected in Fiscal Year 2008-2009 and the amount of such fees collected in the current fiscal year, if there is any decrease in the collection of such fees.

C.  Monies in the fund shall be invested in the same manner as the state general fund monies.  Interest earned on the investment of monies in the fund, after being credited to the Bond Security and Redemption Fund pursuant to Article VII, Section 9(B) of the Constitution of Louisiana, shall be credited to the fund.  All unexpended and unencumbered monies and earnings remaining in the fund at the end of the fiscal year shall remain in the fund, until the legislature provides for enhanced benefits for probation and parole officers in the office of adult services of the Department of Public Safety and Corrections who have service credit in the primary component of the system.  If the legislature does not provide for such benefit enhancements by June 30, 2015, all monies in the fund shall be available to the Department of Public Safety and Corrections to help defray the costs of supervision of persons on probation or parole.

Acts 2009, No. 299, §1, eff. July 1, 2009.