Current through Register Vol. 50, No. 3, March 20, 2024
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.
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
11:2220.4.
