HLS 10RS-557 ORIGINAL Page 1 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Regular Session, 2010 HOUSE BILL NO. 931 BY REPRESENTATIVE TUCKER RETIREMENT/STATE EMPS: (Constitutional Amendment) Relative to state retirement systems, permits the legislature to establish a defined contribution plan for new hires A JOINT RESOLUTION1 Proposing to amend Article X, Sections 29(A) and (B) of the Constitution of Louisiana and2 to add Article X, Sections 29(F) of the Constitution of Louisiana, relative to state3 retirement systems; to provide for the establishment of a defined contribution plan4 within such systems; to provide for participation by certain persons; to provide for5 submission of the proposed amendment to the electors; and to provide for related6 matters.7 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members8 elected to each house concurring, that there shall be submitted to the electors of the state of9 Louisiana, for their approval or rejection in the manner provided by law, a proposal to10 amend Article X, Sections 29(A) and (B) of the Constitution of Louisiana, and to add Article11 X, Sections 29(F) of the Constitution of Louisiana of the Constitution of Louisiana, to read12 as follows:13 §29. Retirement and Survivor's Benefits14 Section 29.(A) Public School Employees. The legislature shall provide for15 retirement of teachers and other employees of the public educational system through16 establishment of one or more retirement systems. Membership in such a retirement17 system shall be a contractual relationship between employee and employer, and the18 state shall guarantee benefits payable to a member or retiree or to his lawful19 beneficiary upon his death , except as provided in Paragraph (F) of this Section.20 HLS 10RS-557 ORIGINAL HB NO. 931 Page 2 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. (B) Other Officials and Employees. The legislature shall enact laws1 providing for retirement of officials and employees of the state, its agencies, and its2 political subdivisions, including persons employed jointly by state and federal3 agencies other than those in military service, through the establishment of one or4 more retirement systems. Membership in any retirement system of the state or of a5 political subdivision thereof shall be a contractual relationship between employee6 and employer, and the state shall guarantee benefits payable to a member of a state7 retirement system or retiree or to his lawful beneficiary upon his death, except as8 provided in Paragraph (F) of this Section.9 * * *10 F. Defined Contribution Plans. Notwithstanding any provision of this11 constitution to the contrary, the legislature may provide for the establishment of a12 defined contribution plan for members of state retirement systems whose first13 employment making them eligible for system membership occurs on or after January14 1, 2011.15 Section 2. Be it further resolved that this proposed amendment shall be submitted16 to the electors of the state of Louisiana at the statewide election to be held on November 2,17 2010.18 Section 3. Be it further resolved that on the official ballot to be used at said election19 there shall be printed a proposition, upon which the electors of the state shall be permitted20 to vote FOR or AGAINST, to amend the Constitution of Louisiana, which proposition shall21 read as follows:22 To permit the legislature to establish a defined contribution plan for members23 of state retirement systems hired on or after January 1, 2011. (Amends24 Article X, Sections 29(A) and (B); Adds Article X, Section 29(F))25 HLS 10RS-557 ORIGINAL HB NO. 931 Page 3 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. DIGEST The digest printed below was prepared by House Legislative Services. It constitutes no part of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)] Tucker HB No. 931 Abstract: Permits the legislature to establish a defined contribution plan for members of state retirement systems hired on or after Jan. 1, 2011. Present constitution provides for retirement and survivor's benefits for public employees and officials, including public school employees. Provides that membership in a retirement system for employees of the public educational system or for officials and employees of the state, its agencies, and its political subdivisions shall be a contractual relationship between employee and employer. Provides that the state shall guarantee benefits payable to a member of a state retirement system. The state retirement systems are: (1)The La. State Employees' Retirement System. (2)The Teachers' Retirement System of La. (3)The La. School Employees' Retirement System. (4)The State Police Pension and Retirement System. Proposed constitutional amendment retains present constitution but authorizes the legislature to establish a defined contribution plan for members of state retirement systems hired on or after Jan. 1, 2011, in which case present constitution's guarantee of benefits shall not apply. Provides for submission of the proposed amendment to the voters at the statewide election to be held Nov. 2, 2010. (Amends Const. Art. X, §§ 29(A) and (B); Adds Const. Art. X, § 29(F))