Establishes a deferred retirement option plan for law enforcement officers in the Public Employees Retirement System.

The bill establishes a deferred retirement option plan for law enforcement officers in the Public Employees Retirement System. It outlines the rules for managing the plan, including the conditions for eligibility, the methods of distribution, and the financial impact on the retirement system. The plan allows officers to continue working while their retirement benefits accrue interest. It also details the benefits for surviving spouses and children, and the conditions under which these benefits may be terminated.

Establishes a deferred retirement option plan for law enforcement officers in the Public Employees Retirement System.

The bill establishes a deferred retirement option plan for law enforcement officers in the Public Employees Retirement System. It outlines the rules for managing the plan, including the conditions for eligibility, the methods of distribution, and the financial impact on the retirement system. The plan allows officers to continue working while their retirement benefits accrue interest. It also details the benefits for surviving spouses and children, and the conditions under which these benefits may be terminated.