§2241.4. Eligibility for retirement

            A. Any member of this subplan shall be eligible for retirement if the member has:

            (1) Twenty-five years or more of service, at any age.

            (2) Twelve years or more of service, at age fifty-five or thereafter.

            (3) Twenty years of service credit at any age, exclusive of unused annual and sick leave and military service other than qualified military service as provided in 26 U.S.C. 414(u) earned on or after December 12, 1994. Any person retiring under this Paragraph shall have his benefit, inclusive of military service credit and allowable unused annual and sick leave, actuarially reduced. Any member retiring under this Paragraph shall have his benefit actuarially reduced from the earliest age that the member would normally become eligible for a regular retirement benefit under Paragraph (2) of this Subsection based upon his years of service as of the date of retirement. Any employee who elects to retire under the provisions of this Paragraph shall not be eligible to participate in the Deferred Retirement Option Plan provided by R.S. 11:2221 or the Initial Benefit Option provided by R.S. 11:2224(F).

            (4) Seven years or more of service, at age sixty-two or thereafter, if the person is an elected chief of police who is not eligible for retirement under Paragraph (1), (2), or (3) of this Subsection and is prohibited from continuing employment as a chief with the same employer due to term limits. Any person retiring under this Paragraph shall provide sufficient documentation to the retirement system proving that the person meets these requirements and shall irrevocably elect not to receive additional service credit or accrue any additional retirement benefit in the retirement system if the person subsequently becomes reemployed. Such election shall be in writing and filed with the board of trustees before the effective date of the retiree's retirement. During any subsequent employment, the retiree and his employer shall make contributions to the retirement system as provided by this Chapter. Upon termination of subsequent employment, employee contributions paid since reemployment shall, upon application, be refunded, without interest, to the retiree. The retirement system shall retain the employer contributions and interest of the contributions.

            B. Members of the subplan who have service credit in more than one subplan shall meet retirement eligibility based upon the reciprocal recognition provisions of R.S. 11:142.

            Acts 2012, No. 522, §1; Acts 2020, No. 249, §1, eff. July 1, 2020; Acts 2024, No. 536, §1, eff. June 10, 2024; Acts 2024, No. 673, §1, eff. July 1, 2024.