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Regular Session, 2012
SENATE BILL NO. 14
BY SENATOR GUILLORY
REGISTRAR OF VOTERS RET. Provides relative to the calculation of benefits. (7/1/12)
AN ACT1
To amend and reenact R.S. 11:2072(A) and (B) and 2074(B) and to repeal R.S. 11:2072(C),2
relative to the Registrars of Voters Employees' Retirement System; to provide for3
calculation of the annual amount of retirement allowance; to provide for calculation4
of disability benefits; to provide for an effective date; and to provide for related5
matters.6
Notice of intention to introduce this Act has been published.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 11:2072(A) and (B) and 2074(B) are hereby amended and reenacted9
to read as follows: 10
§2072. Annual amount of retirement allowance11
A. The annual amount of the retirement allowance for persons who retired12
from this system on or before June 30,1999, shall consist of:13
(1) A member's annuity which shall be the actuarial equivalent of the14
accumulated contributions of the member at the time of retirement, computed15
according to the actuarial table in use by the system.16
(2) An employer's annuity which, together with the member's annuity17 SB NO. 14
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provided above, shall be equal to three percent of the average final compensation for1
each year of membership creditable service.2
(3) A prior service employer's annuity equal to three percent of the average3
final compensation for each year of prior service for which the member is allowed4
credit.5
B. (1) The annual amount of the retirement allowance for any person who is6
an active contributing member of this system on and after July 1, 1999, and for any7
person who first becomes a member of this system whose first employment making8
him eligible for membership in the system began prior to January 1, 2013, and9
for any person who first becomes a member of this system on and after July 1,10
1999, but before January 1, 2013, on and after July 1, 1999, shall consist of:11
(1) A member's annuity which shall be the actuarial equivalent of the12
accumulated contributions of the member at the time of retirement, computed13
according to the actuarial table in use by the system.14
(2) An employer's annuity which, together with the member's annuity15
provided above, shall be equal to three and one-third percent of the average final16
compensation for each year of membership creditable service.17
(3) A prior service employer's annuity equal to three and one-third percent18
of the average final compensation for each year of prior service for which the19
member is allowed credit.20
(4)(2) For any former active contributing member who returns to service as21
an active contributing member on and after July 1, 1999, and whose first22
employment making him eligible for membership in the system began prior to23
January 1, 2013, the provisions of this Subsection shall only apply to the service24
credit earned after the date such member returns to service.25
* * *26
§2074. Disability retirement27
* * *28
B.(1) The board of trustees shall award disability benefits to eligible members29 SB NO. 14
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who have been officially certified as disabled by the State Medical Disability Board.1
The disability benefit shall be determined as follows:2
(1)(a) Upon retirement for disability, a member shall receive a retirement3
allowance if eligible therefor; otherwise, he shall receive a disability benefit which4
shall consist be a product of the retirement accrual rate determined pursuant to5
R.S. 11:2071 multiplied by the member's average compensation further6
multiplied by creditable service as determined to be the lesser of: (a) a member's7
annuity, which shall be the actuarial equivalent of his accumulated contributions at8
the time of retirement, and (b) an employer's annuity equal to that which would have9
been payable either (i) for both membership service and prior service10
(i) Creditable service earned by the date of the disability application, but11
totalling not less than fifteen years , or (ii) for.12
(ii) For projected continued service to age sixty, whichever is less. The13
employer's annuity shall be computed on the same formula used for computation of14
retirement benefits.15
(b) In no case shall the disability benefit provided herein exceed two-thirds16
of earnable compensation.17
(2) Any amount received as a compensable wage or a lump sum settlement18
under the provisions of the workers' compensation laws shall be applied as an offset19
against benefits received under the provisions of this Subsection, under rules20
prescribed by the board. The board shall have complete discretion and the authority21
to determine the extent and application of the provisions of this Subsection.22
(3) Members who qualify for retirement under disability may select an23
Option 2 or 3 as specified in R.S. 11:2076 with their spouse as beneficiary. Such24
option factors shall be the same as those utilized for regular retirement and shall be25
based on the age that the member and spouse would have been had the member26
survived, continued in service, and then retired on the earliest normal retirement27
date.28
Section 2. R.S. 11:2072(C) is hereby repealed.29 SB NO. 14
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Section 3. This Act shall become effective on July 1, 2012; if vetoed by the governor1
and subsequently approved by the legislature, this Act shall become effective on July 1,2
2012, or on the day following such approval by the legislature, whichever is later.3
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Laura Gail Sullivan.
DIGEST
Guillory (SB 14)
Present law relative to the Registrars of Voters Employees' Retirement System provides for
an annual amount of retirement allowance for all persons through the use of a formula
applying multiple annuity calculations.
Proposed law provides a more concise formula for calculating the retirement benefit, with
no change in the ultimate result. Proposed law does not change the accrual rate.
Present law provides for a disability retirement accrual rate multiplied by a member's
annuity, employers annuity equal to members service not less than fifteen years or projected
continued service to age sixty.
Proposed law provides that the disability retirement accrual rate shall be multiplied by the
member's final average compensation further multiplied by service as determined to be the
lesser of creditable service earned by the date of the disability application, but totaling not
less than fifteen years, or (ii) for projected continued service to age sixty. This is not a
change in the result.
Effective January 1, 2013.
(Amends R.S. 11:2072 (A) and (B) and 2074(B); repeals R.S. 11:2072(C))