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)]
Jones HB No. 34
Abstract: Authorizes a supplemental benefit increase for certain retirees and beneficiaries of the
La. State Employees' Retirement System (LASERS).
Present law (R.S. 11:542), relative to LASERS, provides for the accumulation of certain system
funds in an "experience account". Provides for utilization of these funds for permanent benefit
increases (PBIs), sometimes called cost-of-living adjustments or COLAs, for retirees and
beneficiaries of the system. Provides for determination of eligibility for and the amount of any
increase paid with these funds.
Proposed law provides for a supplemental benefit increase for those eligible for a PBI pursuant to
present law providing for the experience account. Provides that this increase shall be an
additional amount to be determined.
Present law requires a concurrent resolution adopted by the legislature as part of the process of
granting a PBI pursuant to present law. Proposed law provides that no further action is required
by the legislature in order for the system to pay the PBI granted by proposed law.
In compliance with Art. X, ยง29(F) of the state constitution, proposed law requires that the
actuarial cost of proposed law be funded with money from the system's experience account.
Further provides that any additional actuarial cost be funded with additional employer
contributions.
Effective June 30, 2014.
(Amends R.S. 11:542.1)