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One bill impacting MPERS was heard in the House Retirement Committee meeting on Thursday, April 24th.
HB 17 by Rep. Tarver was reported favorably with amendments and now advances to the House Floor. It allows participants in DROP the opportunity to extend their participation in DROP for a total participation of not more than five years if they meet all of the following requirements:
(1) Began participation prior to July 1, 2024.
(2) Elected a participation period of three years.
(3) Are participating in the plan on July 1, 2025.
The bill also requires the participant to notify the board of trustees in writing and specify the duration of his participation before his final participation date or August 1, 2025, whichever is earlier.
The MPERS Board supports this bill.
If you fit all of the above criteria and would like to extend your total DROP participation period, please contact us as soon as possible.
Visit the Louisiana State Legislature website at legis.la.gov for details of all legislation.
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