Louisiana State House 2013 Session HB 33- 42

by Courtney C Horne @FireezDragon

I am going to be giving a quick 2-3 (sometimes more for more interesting bills) sentence summary of each of the Louisiana State House and Senate 2013 Bills. I will be doing about 10 an entry and a few entries a day until I get caught up. Once I am caught up, I will cover new bills as they are filed. This entry covers House Bills 33- 42.

House Bill 33 (HB33)-  (Pearson) if an employer withdraws employees from the Teachers Retirement System of Louisiana they have to pay their share of unfunded accrued liability in the retirement system.

House Bill 34 (HB34)- (Barrow) allows members of state retirement plans whose jobs are affected by a layoff plan to transfer an amount equal to their accrued benefit to another qualified plan or a retirement account.

House Bill 35 (HB35)–  (Barrow) a provision for members of the state retirement plan who are employed by a state hospital, who have 25 years or more of service, and whose jobs are affected by a layoff plan. Under this bill these members are eligible for retirement, regardless of age, and would not have their benefit actuarially reduced.

House Bill 36 (HB36)-  (Danahay) Would change amount of time required in the Sheriff’s pension and relief fund required to transfer in credit from a prior state retirement plan from 6 months to one year. Doesn’t change time requirements for other systems.

House Bill 37 (HB37)- (N. Landry) requires the board of trustees of the Registrars of Voters Employees’ Retirement System to take actions to comply with an IRS requirement to show assumptions in order to maintain the plan’s tax status.

House Bill 38 (HB38)- (Greene) allows the board of trustees of the Registrars of Voters Employees’ Retirement System to raise the employee contribution rate from 7% to a range between 7 and 9 percent.

House Bill 39 (HB39)- (S. Bishop) adds age requirement for retirement (of 55) to the 30 years of service level and ups age requirement with 12 years of service from 55 to 60 for retirement for members of the La. Assessors’ Retirement Fund hired on or after October 1, 2013.

House Bill 40 (HB40)- (Arnold) sets a special interest rate for payments owed to the Firefighters’ Pension and Relief Fund in the city of New Orleans which would be based on the system’s actuarial valuation rate or market return rate- whichever is greater.

House Bill 41 (HB41)- (Arnold) Provides for 3 additional appointed members of the board of trustees of the New Orleans Fire Fighters Pension and Relief Fund and extends terms of elected members from 2 to 4 years. Adds a requirement a 2/3 vote of the board to approve a cost-of-living increase.

House Bill 42 (HB42)- (Arnold) changes the averaging period for pay for retirement in the New Orleans Fire Fighters Pension and Relief Fund from 48 months to 60 months.