LAC 58:XVII.301 – Calculation of Post-Drop Final Average Compensation | Midpage

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Louisiana Administrative Code

§ 301

LAC 58:XVII.301

Calculation of Post-Drop Final Average Compensation

LR 42:1960 (November 2016)Promulgated in accordance with R.S. 11:2093 and R.S. 11:2144(I).State of Louisiana

A.
1. 1. A member must work for a three month period post-DROP in order to have the member’s final average compensation recalculated for any and all purposes including but not limited to:
  1. a. calculating the value of creditable service post-DROP;
  2. b. calculating any leave that is converted post-DROP; and
  3. c. for all other actuarial and benefit calculation purposes.
2. 2. Otherwise, the member’s 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.

Authority Note

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

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Treasury, Registrars of Voters Retirement System, LR 42:1960 (November 2016).