Section XVII-301 - Calculation of Post-Drop Final Average Compensation (Louisiana Code of Regulations)

§ XVII-301. Calculation of Post-Drop Final Average Compensation

A.

1. A member must work for a three month period post-DROP in order to have the members final average compensation recalculated for any and all purposes including but not limited to:

a. calculating the value of creditable service post-DROP;

b. calculating any leave that is converted post-DROP; and

c. for all other actuarial and benefit calculation purposes.

2. Otherwise, the members final average compensation to be utilized for service, leave, and all other actuarial and benefit calculation purposes post-DROP shall be the final average compensation used to calculate the DROP benefit.

(Promulgated by the Department of Treasury, Registrars of Voters Retirement System, LR 421960 (November 2016).)

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:2093 and R.S. 11:2144(I).

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