La. Admin. Code tit. 58 § III-505

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-505 - Duration of DROP Participation

A. Participation in DROP may not exceed a period of three consecutive years.

1. In order to participate for the maximum three consecutive years, the member must begin DROP participation within 60 calendar days after the first possible eligibility requirement for participation is met.

2. The participation period must end not more than three years and 60 calendar days from the date the member first became eligible to participate.

3. The participation period may only be shortened by the participant's termination of employment or death.

La. Admin. Code tit. 58, § III-505

Promulgated by the Department of the Treasury, Board of Trustees of the Teachers' Retirement System of Louisiana, LR 18:621 (June 1992), amended LR 19:1601 (December 1993), LR 21:1267 (November 1995), repromulgated LR 24:500 (March 1998), Amended by LR 461242 (9/1/2020).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:826.