ENROLLED Page 1 of 4 CODING: Words in struck through type are deletions from existing law; words underscored are additions. ACT No. 298 Regular Session, 2013 HOUSE BILL NO. 51 BY REPRESENTATIVE PEARSON AN ACT1 To amend and reenact R.S. 11:3384(B) and (C) and 3385.1(K)(7)(a) and (g), relative to the2 Firefighters' Pension and Relief Fund in the city of New Orleans; to provide relative3 to computation of benefits for certain members; to provide for average4 compensation; to provide for an effective date; and to provide for related matters.5 Notice of intention to introduce this Act has been published6 as provided by Article III, Section 13 and Article X, Section7 29(C) of the Constitution of Louisiana.8 Be it enacted by the Legislature of Louisiana:9 Section 1. R.S. 11:3384(B) and (C) and 3385.1(K)(7)(a) and (g) are hereby amended10 and reenacted to read as follows: 11 §3384. Firefighters employed after December 31, 1967; computation of benefits12 * * *13 B. If the firefighter has worked one or more hours of service after December14 31, 1995, he shall receive a retirement benefit equal to two and one-half percent of15 his average compensation based on the four five highest consecutive years of16 employment, multiplied by the number of years of creditable service. If the member17 continues to remain a member of the system beyond twelve years of service and such18 member attains the age of fifty, the retirement benefit for each year or portion of a19 year beyond twelve years of service and after age fifty shall be an amount equal to20 three and one-third percent of the average annual compensation for each year or21 portion of a year. If the member continues service beyond thirty years, the22 ENROLLEDHB NO. 51 Page 2 of 4 CODING: Words in struck through type are deletions from existing law; words underscored are additions. retirement benefit for each year or portion of a year beyond twelve years of service1 shall be an amount equal to three and one-third percent of the average annual2 compensation for each year or portion of a year. However, the retirement benefit3 shall not exceed a total of three and one-third percent each year. The service benefits4 of such firefighter shall not exceed one hundred percent of the average compensation5 earned during any three five highest average consecutive years of service preceding6 retirement.7 C. A firefighter who has not worked an hour of service after December 31,8 1995, shall receive a retirement allowance equal to two and one-half percent of his9 average salary based on the highest four five consecutive years multiplied by the10 number of years of creditable service, not to exceed seventy-five percent and further11 provided that in the case of those employees who remain in service beyond twelve12 years and who have reached the age of fifty-five years, the percentage shall be three13 percent for all years over twelve, with a maximum benefit of eighty percent.14 * * *15 §3385.1. Deferred Retirement Option Plan16 * * *17 K.18 * * *19 (7) Upon termination of employment, the retiree shall receive an additional20 retirement benefit based solely on any additional service rendered since termination21 of participation in the Deferred Retirement Option Plan, using the normal method of22 computation of the benefits, subject to the following:23 (a) If the member was first employed after December 31, 1967, and his24 period of additional service is less than forty-eight months his average compensation25 period at the commencement of participation in the Deferred Retirement Option26 Plan, the average compensation figure used to calculate the additional benefit shall27 be that used to calculate his original benefit. If his period of additional service is28 forty-eight or more months equal to or longer than his average compensation period29 at the commencement of participation in the Deferred Retirement Option Plan, the30 ENROLLEDHB NO. 51 Page 3 of 4 CODING: Words in struck through type are deletions from existing law; words underscored are additions. average compensation figure used to calculate the additional benefit shall be based1 on his compensation during the period of additional service.2 * * *3 (g)(i) In no event shall the additional benefit exceed an amount which, when4 combined with the original benefit, equals one hundred percent of the average of any5 three highest consecutive years of compensation earned by a member electing to6 retire under the old system, or both during participation and after leaving the7 Deferred Retirement Option Plan. 8 (ii) In no event shall the additional benefit exceed an amount which, when9 combined with the original benefit, equals one hundred percent of the average of any10 four highest consecutive years of compensation earned by a member retiring under11 the new system with an average compensation period of four years, both during12 participation and after leaving the Deferred Retirement Option Plan.13 (iii) For any member whose average compensation period is longer than four14 years, in no event shall the additional benefit exceed an amount which, when15 combined with the original benefit, equals one hundred percent of the average of the16 highest consecutive months of compensation for any period equal to the average17 compensation period applicable when the member entered the Deferred Retirement18 Option Plan, both during participation and after leaving the Deferred Retirement19 Option Plan.20 * * *21 Section 2. For those members retiring or entering the Deferred Retirement Option22 Plan or participating in the Deferred Retirement Option Plan on a retroactive basis on or23 after July 1, 2013, and on or before June 30, 2014, the period used to calculate monthly24 average compensation shall be forty-eight months plus the number of whole months since25 July 1, 2013. 26 ENROLLEDHB NO. 51 Page 4 of 4 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Section 3. This Act shall become effective July 1, 2013; if vetoed by the governor1 and subsequently approved by the legislature, this Act shall become effective on July 1,2 2013, or on the day following such approval by the legislature, whichever is later.3 SPEAKER OF THE HOUSE OF REPRESENTATI VES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED: