Establishes the Back-Deferred Retirement Option Program for certain judges within the Louisiana State Employees' Retirement System.
The bill creates the Back-Deferred Retirement Option Program (Back-DROP) for specific judges within the Louisiana State Employees' Retirement System. Eligible judges can retire early, regardless of age or years of service, if they hold a judgeship designated for abolition upon their retirement and do not seek election to another judicial office. Participation is irrevocable and limited to 36 months or the number of months of service credit accrued, whichever is less. Judges receive a monthly benefit and a lump-sum payment based on their service credit and final average compensation.
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