La. Admin. Code tit. 58 § I-2703

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-2703 - Participation in Three-Year Program

A. Any eligible member entering DROP for the first time on or after July 1, 1993, may make a one time election to participate in DROP for a period not to exceed three years. Once specified, the period of participation may not be extended.

B. Any member in their initial DROP participation period between July 1, 1993, and September 1, 1993, who entered DROP prior to July 1, 1993 may extend their originally selected participation period by up to one additional year upon giving written notice to the retirement system.

C. Any member in their initial DROP participation period who entered DROP prior to July 1, 1993, and who elect after September 1, 1993, to extend their originally selected DROP participation period by up to one year may do so upon 30 days prior written notice to the retirement system.

D. Any member who has completed DROP participation prior to July 1, 1993, and who has remained in state service without a break, may reenter the DROP program for up to one additional year upon written notice to the retirement system.

La. Admin. Code tit. 58, § I-2703

Promulgated by the Department of Treasury, Board of Trustees of the State Employees' Retirement System, LR 22:373 (May 1996).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:515.