SB 16 requires trustees of Louisiana's public retirement systems to complete specific annual training. Trustees must attend 8 hours of investment training, 4 hours of actuarial science education, 2 hours on applicable laws, and 2 hours on ethics and fiduciary responsibilities each year. New trustees appointed after June 1, 2026, only need to comply with these requirements starting from their appointment. The law takes effect on August 31, 2026, and applies to all trustees serving on retirement system boards.
This bill clarifies rules for municipal retirees who return to part-time work. It ensures retirees with over 30 years of service and age 60+ will keep full retirement benefits without reduction if rehired part-time (until June 2028), regardless of earnings. For other retirees (30 years or less service), benefits are reduced if their part-time earnings exceed the difference between their final salary and retirement benefit. The changes apply specifically to those returning to employment covered by Louisiana's Municipal Employees' Retirement System.
This bill amends Louisiana's State Police Retirement System by clarifying key definitions and administrative rules. It defines terms like "Board," "Fund," "Distributee," and "Pension plan" (Section 1301), specifies membership requirements (Section 1305), and details how "average salary" is calculated for retirement benefits (Section 1307.1), including rules for converting unused annual/sick leave to retirement service (Sections 1333-1334). The changes directly affect current and future Louisiana State Police members and retirees by standardizing benefit calculations and service credit. The bill focuses on procedural clarity within the existing retirement framework without altering benefit amounts or eligibility thresholds.
SB 17 establishes a funding deposit account to cover cost-of-living adjustments (COLAs) for retirees, beneficiaries, and survivors in the Registrars of Voters Employees' Retirement System. It sets specific conditions for COLAs: up to 3% of a retiree's current benefit if the system is at least 70% funded and no COLA was granted in the previous three years, with an additional up to 2% for those aged 65 or older. These adjustments are funded from the system's investment earnings and surplus funds held in the new account, which must be used to cover COLAs when available.
SB 11 modifies the funding rules for the Louisiana State Police Retirement System to ensure stable benefits for retirees, beneficiaries, and survivors. It requires automatic increases in employer contributions (capped at 2.35%) if projected contributions decrease, effective July 1, 2024. The bill mandates these adjustments to cover benefit increases without needing new legislative action each year. Funding will come from additional employer contributions as specified in the state constitution.
SB 8 adds the Louisiana Asset Management Pool as an eligible employer in Louisiana's Municipal Employees' Retirement System. This means the Pool can now participate in the retirement system, allowing its employees to access the same retirement benefits as other municipal employees. The bill achieves this by amending the definition of "employer" in the retirement system statute to explicitly include the Pool. The change directly affects the Pool's employees and the retirement system's administrative structure.
SB 20 changes how Louisiana sets annual employer contributions for the School Employees' Retirement System and other public retirement systems. It repeals three existing sections of law that previously governed contribution calculations and the handling of actuarial gains, streamlining the process for determining these payments. This update directly affects state and local government employers who fund these retirement plans. The bill modifies the legal framework without altering specific contribution rates or funding amounts.
SB 10 amends Louisiana law governing employer contributions to the State Police Retirement System. It revises how the legislature calculates required annual contribution rates by removing outdated references to specific sections (102.4 and 1332) that previously affected the process. The bill directly affects the State Police Retirement System's funding mechanism, changing how contribution rates are determined each fiscal year. The changes streamline the administrative process for setting these rates without altering benefit levels or new funding requirements.
SB 21 amends Louisiana's state employees' retirement system funding rules, directly affecting state employees and the retirement system's financial management. It establishes new rules for calculating employer contributions and reamortizing the system's unfunded liability (retirement fund shortfall), requiring reamortization when the system reaches 80% funding or every five years starting in 2019-2020. The bill modifies how excess investment returns are applied to reduce the debt and clarifies that payments must follow specific amortization schedules. These changes aim to systematically address the retirement system's financial obligations without altering benefit levels.
HB 29 creates the Ascension Parish Clerk of Court Retired Employees Insurance Fund (APCOCREIF) to cover insurance premium costs for retired clerks and deputy clerks in Ascension Parish. The fund is financed through discretionary contributions from the clerk of court and investment earnings, with strict rules requiring at least 25% of investments in equities and 25% in high-quality bonds. Earnings can only be used for insurance premiums or legal costs once the fund reaches $5 million, and if the fund drops below $4 million, the clerk must cover costs from general funds. This ensures retired employees retain health insurance coverage while establishing clear investment and withdrawal safeguards.
SB 23 amends Louisiana's sanitary code to exempt adult residential care providers from the definition of "food service establishment." This means facilities providing residential care for adults (like group homes) would no longer be subject to standard food safety regulations and inspections required for restaurants or similar businesses. The bill achieves this by adding a specific exclusion to the legal definition in the sanitary code. The change directly affects adult residential care providers by relieving them of certain food safety compliance obligations.
HB 61 designates January 8th as "Battle of New Orleans Day" in Louisiana, honoring those who served in the 1815 Battle of New Orleans. The bill creates a ceremonial state holiday without altering existing laws or imposing new requirements. It directly affects Louisiana state operations and observances, establishing a specific date for commemoration. This is a procedural bill with no substantive policy changes beyond recognizing a historical event.
