Bill > HB36

This bill makes several changes to the Municipal Police Employees' Retirement System (MPERS) in Louisiana. Key provisions include: 1. Establishing a new "Back-Deferred Retirement Option Plan" (Back-DROP) that allows eligible members to retire and receive a monthly benefit plus a lump-sum payment based on their accrued service during a specified Back-DROP period. 2. Modifying the rules around suspension of retirement benefits for MPERS retirees who return to work, including exempting certain retirees who become chiefs of police. 3. Adjusting the timeline for when survivor benefits and pop-up benefits become effective and payable. 4. Amending eligibility requirements for the 20-year retirement option, including removing the ability to participate in the Deferred Retirement Option Plan or Initial Benefit Option for those utilizing this provision. The bill aims to provide additional retirement options and benefits for MPERS members while also addressing certain administrative and operational aspects of the retirement system.