Louisiana HB993 amends the Municipal Police Employees' Retirement System to clarify what constitutes "earnable compensation" for retirement benefits.
Louisiana HB993 amends the Municipal Police Employees' Retirement System to clarify what constitutes "earnable compensation" for retirement benefits. The bill specifies that "earnable compensation" includes the full amount of compensation earned by an employee within a given month, including state supplemental pay, but excludes overtime pay. It also excludes non-recurring lump-sum payments, ad hoc bonuses, recruitment incentives, hiring or signing bonuses, retention incentives or bonuses, and any other one-time awards not paid as part of the employee's regular recurring salary.
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