La. Admin. Code tit. 58 § XVIII-701

Current through Register Vol. 50, No. 9, September 20, 2024

Section XVIII-701 - Terms and Conditions of Renunciation of Benefit

A. Any person eligible to receive, or receiving, a benefit from the Municipal Police Employees' Retirement System may renounce such benefit under the following terms and conditions.

1. A base benefit may be renounced in whole or in part. An adjustment to a base benefit (cost-of-living adjustment, adjustment of inflation, or one-time supplemental payment) may only be renounced in its entirety. If an adjustment is renounced, the base benefit need not be renounced.

2. If more than one person is entitled to receive a particular survivor benefit, each person entitled to a portion of the benefit may renounce his entitlement. The person or persons who continue to have entitlement in that benefit shall receive the benefit to which they are entitled without consideration of the person who becomes ineligible through renunciation. Any adjustment shall be prospective only.

3. If the party making the renunciation is married, the spouse must join in the renunciation.

4. If the person making the renunciation is subject to an executed and effective community property settlement, only that portion of the benefit due the person making the renunciation may be renounced, except as provided for in R.S. 11:2224(C).

5. If the person making the renunciation is legally separated or divorced but is not subject to an executed and effective community property settlement, the renunciation must be approved by the court having jurisdiction over the separation or divorce.

6. If the person making the renunciation is retired and has named a joint and survivor beneficiary, the renunciation cannot affect the joint and survivors' beneficiary or benefit, including adjustments to the joint and survivor benefit.

7. If a benefit is renounced by a member prior to receipt by the member of a sum equal to his or her accumulated contributions, the balance of the accumulated contributions will be paid to the member.

8. A renunciation must be made on a form provided by MPERS and must be executed before a notary public and two witnesses, neither of whom may be a spouse nor presently named beneficiary. The renunciation is effective and irrevocable when received by MPERS.

9. A person revoking or participating in renunciation of a benefit must hold MPERS harmless from such action.

10. A renunciation may not be used to terminate active participation in MPERS.

11. Amounts credited to a DROP account cannot be renounced.

12. A benefit or portion of a benefit that has been renounced may be used to recoup benefits or refunds of accumulated contributions paid by administrative error or mistake.

13. Only those who have selected the maximum benefit or Option 1 under R.S. 11:2224(A) may renounce their entire monthly benefit.

B. MPERS makes no representation with respect to the effect of a renunciation on a person's eligibility for receipt of any state or federal benefits, or for participation in any private, local, state, or federal program. Eligibility for or participation in such programs, or eligibility for or receipt of such benefits, is an issue for which the person making the renunciation is solely responsible. Ineligibility for or termination of participation in such programs or benefits shall not affect the irrevocable character of the renunciation.

La. Admin. Code tit. 58, § XVIII-701

Promulgated by the Department of the Treasury, Board of Trustees of the Municipal Police Employees' Retirement System, LR 461107 (8/1/2020).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:2220.4.