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words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 14
BY SENATOR GUILLORY
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
provided above, shall be equal to three percent of the average final compensation for18
each year of membership creditable service.19
(3) A prior service employer's annuity equal to three percent of the average20
final compensation for each year of prior service for which the member is allowed21
credit.22
B. (1) The annual amount of the retirement allowance for any person who is23
an active contributing member of this system on and after July 1, 1999, and for any24
person who first becomes a member of this system whose first employment making25
him eligible for membership in the system began prior to January 1, 2013, and26
for any person who first becomes a member of this system on and after July 1,27
ACT No. 526 SB NO. 14 ENROLLED
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1999, but before January 1, 2013, on and after July 1, 1999, shall consist of:1
(1) A member's annuity which shall be the actuarial equivalent of the2
accumulated contributions of the member at the time of retirement, computed3
according to the actuarial table in use by the system.4
(2) An employer's annuity which, together with the member's annuity5
provided above, shall be equal to three and one-third percent of the average final6
compensation for each year of membership creditable service.7
(3) A prior service employer's annuity equal to three and one-third percent8
of the average final compensation for each year of prior service for which the9
member is allowed credit.10
(4)(2) For any former active contributing member who returns to service as11
an active contributing member on and after July 1, 1999, and whose first12
employment making him eligible for membership in the system began prior to13
January 1, 2013, the provisions of this Subsection shall only apply apply only to14
the service credit earned after the date such member returns to service.15
* * *16
§2074. Disability retirement17
* * *18
B.(1) The board of trustees shall award disability benefits to eligible members19
who have been officially certified as disabled by the State Medical Disability Board.20
The disability benefit shall be determined as follows:21
(1)(a) Upon retirement for disability, a member shall receive a retirement22
allowance if eligible therefor; otherwise, he shall receive a disability benefit which23
shall consist be a product of the retirement accrual rate determined pursuant to24
R.S. 11:2071 multiplied by the member's average compensation further25
multiplied by creditable service as determined to be the lesser of: (a) a member's26
annuity, which shall be the actuarial equivalent of his accumulated contributions at27
the time of retirement, and (b) an employer's annuity equal to that which would have28
been payable either (i) for both membership service and prior service29
(i) Creditable service earned by the date of the disability application, but30 SB NO. 14 ENROLLED
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totalling not less than fifteen years , or (ii) for.1
(ii) For projected continued service to age sixty, whichever is less. The2
employer's annuity shall be computed on the same formula used for computation of3
retirement benefits.4
(b) In no case shall the disability benefit provided herein exceed two-thirds5
of earnable compensation.6
(2) Any amount received as a compensable wage or a lump sum settlement7
under the provisions of the workers' compensation laws shall be applied as an offset8
against benefits received under the provisions of this Subsection, under rules9
prescribed by the board. The board shall have complete discretion and the authority10
to determine the extent and application of the provisions of this Subsection.11
(3) Members who qualify for retirement under disability may select an12
Option 2 or 3 as specified in R.S. 11:2076 with their spouse as beneficiary. Such13
option factors shall be the same as those utilized for regular retirement and shall be14
based on the age that the member and spouse would have been had the member15
survived, continued in service, and then retired on the earliest normal retirement16
date.17
Section 2. R.S. 11:2072(C) is hereby repealed.18
Section 3. This Act shall become effective on July 1, 2012; if vetoed by the governor19
and subsequently approved by the legislature, this Act shall become effective on July 1,20
2012, or on the day following such approval by the legislature, whichever is later.21
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: