LAC 58:V.701. Partial Buy Back and Partial Restoration of Forfeited Credits of Service

A. A member shall partially buy back a portion of his forfeited credits of service and shall do so by satisfying the following requirements, as set forth herein. 1. A member must have returned to employment with the fire department and remain in such employment for a period of four years or more. 2. The amount of a partial buy back, and accordingly a partial restoration of forfeited credits, shall be determined by calculating the amount the member withdrew of his accumulated employee contributions on his initial termination of employment, plus 3 1/2 percent of interest, compounded annually, for each calendar year the member retained his withdrawn accumulated employee contributions, which total amount shall be referred to as the "total buy back amount" (interest shall be prorated for any period less than a calendar year period). 3. A member may restore his total number of years of forfeited credit on a piecemeal basis, provided the member restores at least two or more years of forfeited credit, in increments of 12 consecutive months. A member is prohibited from restoring his forfeited credits of service on a monthly basis and is prohibited from restoring less than two years, unless the restoration of credits is his final restoration request or the restoration request is for his total forfeited credits. 4. A year of credit shall mean a 12-month consecutive period. 5. A member shall elect a partial buy back and partial restoration of forfeited credits of service by completing and filing the applicable forms. A member may revoke any election for a partial buy-back and partial restoration, provided such revocation is in writing. 6. The member’s years of credit service shall be adjusted as a result of the partial restoration of forfeited credits upon receipt of the annual buy-back amount for each year the member elects to restore. 7. A member is strictly prohibited hereunder from receiving his accumulated employee contributions upon his termination of employment in a form other than a full and total lump sum payment.