HLS 12RS-438 ORIGINAL Page 1 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Regular Session, 2012 HOUSE BILL NO. 51 BY REPRESENTATIVE LEGER RETIREMENT/LOCAL: Provides relative to benefits in the Firefighters' Pension and Relief Fund in the city of New Orleans AN ACT1 To amend and reenact R.S. 11:3384(B) and (C), relative to the Firefighters' Pension and2 Relief Fund in the city of New Orleans; to provide relative to computation of benefits3 for certain members; and to provide for related matters.4 Notice of intention to introduce this Act has been published5 as provided by Article III, Section 13 and Article X, Section6 29(C) of the Constitution of Louisiana.7 Be it enacted by the Legislature of Louisiana:8 Section 1. R.S. 11:3384(B) and (C) are hereby amended and reenacted to read as9 follows: 10 ยง3384. Firefighters employed after December 31, 1967; computation of benefits11 * * *12 B. If the firefighter has worked one or more hours of service after December13 31, 1995, he shall receive a retirement benefit equal to two and one-half percent of14 his average compensation based on the four five highest consecutive years of15 employment, multiplied by the number of years of creditable service. If the member16 continues to remain a member of the system beyond twelve years of service and such17 member attains the age of fifty, the retirement benefit for each year or portion of a18 year beyond twelve years of service and after age fifty, shall be an amount equal to19 three and one-third percent of the average annual compensation for each year or20 HLS 12RS-438 ORIGINAL HB NO. 51 Page 2 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. portion of a year. If the member continues service beyond thirty years, the1 retirement benefit for each year or portion of a year beyond twelve years of service2 shall be an amount equal to three and one-third percent of the average annual3 compensation for each year or portion of a year. However, the retirement benefit4 shall not exceed a total of three and one-third percent each year. The service benefits5 of such firefighter shall not exceed one hundred percent of the average compensation6 earned during any three five highest average consecutive years of service preceding7 retirement.8 C. A firefighter who has not worked an hour of service after December 31,9 1995, shall receive a retirement allowance equal to two and one-half percent of his10 average salary based on the highest four five consecutive years multiplied by the11 number of years of creditable service, not to exceed seventy-five percent and further12 provided that in the case of those employee s who remain in service beyond twelve13 years and who have reached the age of fifty-five years, the percentage shall be three14 percent for all years over twelve, with a maximum benefit of eighty percent.15 * * *16 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)] Leger HB No. 51 Abstract: Provides for the computation of benefits for certain members of the Firefighters' Pension and Relief Fund in the city of New Orleans. Present law provides relative to the computation of benefits for members in the Firefighters' Pension and Relief Fund in the city of New Orleans. Provides that if the firefighter has worked one or more hours of service after Dec. 31, 1995, he shall receive a retirement benefit equal to 2.5% of his average compensation based on the four highest consecutive years of employment, multiplied by the number of years of creditable service. Provides that if the member remains a member of the system beyond 12 years of service and such member attains the age of 50, the retirement benefit for each year or portion of a year beyond 12 years of service and after age 50, shall be an amount equal to 3-1/3% of the average annual compensation for each year or portion of a year. Proposed law provides that the average compensation is based on the five highest consecutive years of employment instead of the four highest consecutive years. Otherwise retains present law. HLS 12RS-438 ORIGINAL HB NO. 51 Page 3 of 3 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Present law provides that if the member continues service beyond 30 years, the retirement benefit for each year or portion of a year beyond 12 years of service shall be an amount equal to 3-1/3% of the average annual compensation for each year or portion of a year. Provides, however, that the retirement benefit shall not exceed a total of 3-1/3% each year. Provides further that the service benefits of such firefighter shall not exceed 100% of the average compensation earned during any three highest average consecutive years of service preceding retirement. Proposed law provides that the service benefits shall not exceed 100% of the average compensation earned during any five highest average consecutive years of service instead of three highest average consecutive years. Otherwise retains present law. Present law provides that a firefighter who has not worked an hour of service after Dec. 31, 1995, shall receive a retirement allowance equal to 2.5% of his average salary based on the highest four consecutive years multiplied by the number of years of creditable service, not to exceed 75% and further provided that in the case of those employees who remain in service beyond 12 years and who have reached the age of 55 years, the percentage shall be 3% for all years over 12, with a maximum benefit of 80%. Proposed law provides that the average salary is based on the highest five consecutive years instead of the highest four consecutive years. Otherwise retains present law. (Amends R.S. 11:3384(B) and (C))