§ 1:281. Definitions.

A.

All definitions prescribed in subpart 1 of this part are applicable to the trust created pursuant to this subpart unless a different definition is set forth in this subpart, or the context in which a term is used in this subpart indicates a different meaning than that prescribed in subpart 1.

B.

Eligible police employees shall mean those members of the retirement system, including those members who are participating, or have participated, in the deferred retirement option plan of the retirement system, who voluntarily elected a transfer to the Municipal Police Employees' Retirement System of Louisiana pursuant to R.S. 11:2225(A)(11)(a)(ii).

C.

Guarantee account shall mean that account of an eligible police employee in which shall be accumulated amounts payable under the police guarantee trust.

D.

Guarantee of benefits contract shall mean that agreement executed between the city and the individual eligible police employee, and the spouse of the eligible police employee if legally married, which provides for the retention of certain retirement benefits and rights which the eligible police employee, or his survivors and/or beneficiaries, would have had in the retirement system had the eligible police employee not voluntarily elected a transfer to the Municipal Police Employees' Retirement System of Louisiana, said agreement entitled "Agreement and Guarantee of Retirement Rights and Benefits."

E.

MPERS shall mean the Municipal Police Employees' Retirement System of Louisiana.

F.

Original retirement system trust shall mean that tax-qualified trust established within the retirement system to hold assets and provide the retirement benefits set forth in subpart 2 of this part to members other than eligible police employees.

G.

Police guarantee trust shall mean that trust established within the retirement system by this subpart 4 to hold assets and pay amounts due under the guarantee of benefits contract to eligible police employees, or their survivors and/or beneficiaries.

H.

Transfer agreement shall mean that agreement by which the eligible police employees are transferred from this retirement system to the Municipal Police Employees' Retirement System of Louisiana, and shall provide for payment from the city to the Municipal Police Employees' Retirement System of Louisiana of an amount equal to sixty (60) percent of the accrued liability for all members so transferred.

I.

Transfer date shall mean the 26th day of February, 2000.

(Ord. No. 11669, § 2, 2-23-00; Ord. No. 15062, § 1, 12-8-10; Ord. No. 16039, § 1, 8-12-15)