Louisiana 2014 2014 Regular Session

Louisiana House Bill HB38 Engrossed / Bill

                    HLS 14RS-295	ENGROSSED
Page 1 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2014
HOUSE BILL NO. 38
BY REPRESENTATIVE PEARSON
RETIREMENT/STATE SYSTEMS: Provides relative to retirement eligibility for certain
members of state retirement systems
AN ACT1
To amend and reenact R.S. 11:441(A)(2)(b), 461(B)(3)(b), 726(B), 761(A)(3) and (4),2
765(A) and (B)(1), 780, 783(A)(3)(a), 786(A)(2) and (3), 802, 1141(A), 1142, and3
1147(C)(4) and to enact R.S. 11:441(A)(2)(c), 461(B)(3)(c), 761(A)(5), and4
786(A)(4), relative to retirement eligibility for certain new hires in the Louisiana5
State Employees' Retirement System, the Teachers' Retirement System of Louisiana,6
and the Louisiana School Employees' Retirement System; to establish new7
retirement eligibility for certain members hired on or after July 1, 2014; to provide8
relative to disability retirements; to provide for technical corrections; and to provide9
for related matters.10
Notice of intention to introduce this Act has been published11
as provided by Article X, Section 29(C) of the Constitution12
of Louisiana.13
Be it enacted by the Legislature of Louisiana:14
Section 1. R.S. 11:441(A)(2)(b), 461(B)(3)(b), 726(B), 761(A)(3) and (4), 765(A)15
and (B)(1), 780, 783(A)(3)(a), 786(A)(2) and (3), 802, 1141(A), 1142, and 1147(C)(4) are16
hereby amended and reenacted and R.S. 11:441(A)(2)(c), 461(B)(3)(c), 761(A)(5), and17
786(A)(4) are hereby enacted to read as follows:18 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 2 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
§441.  Eligibility for retirement1
A.2
*          *          *3
(2)4
*          *          *5
(b) Except for members of the Hazardous Duty Services Plan, as defined in6
R.S. 11:612, any member whose first employment making him eligible for7
membership in one of the state systems occurred on or after January 1, 2011, and on8
or before June 30, 2014, including any judge, court officer, governor, lieutenant9
governor, clerk or sergeant-at-arms of the House of Representatives, secretary or10
sergeant-at-arms of the Senate, or state treasurer, shall be eligible for retirement if11
he has:12
(i)  Five years or more of service, at age sixty or thereafter.13
(ii) Twenty years of service credit at any age, exclusive of military service14
and unused annual and sick leave, but any person retiring under this Item shall have15
his benefit, inclusive of military service credit and allowable unused annual and sick16
leave, actuarially reduced from the earliest age that he would normally become17
eligible for a regular retirement benefit under Item (i) of this Subparagraph if he had18
continued in service to that age. Any employee who elects to retire under the19
provisions of this Item shall not be eligible to participate in the Deferred Retirement20
Option Plan provided by R.S. 11:447 or the Initial Benefit Option provided by R.S.21
11:446.22
(c)  Except for members of the Hazardous Duty Services Plan, as defined in23
R.S. 11:612, any member whose first employment making him eligible for24
membership in one of the state systems occurred on or after July 1, 2014, including25
any judge, court officer, governor, lieutenant governor, clerk or sergeant-at-arms of26
the House of Representatives, secretary or sergeant-at-arms of the Senate, or state27
treasurer, shall be eligible for retirement if he has:28
(i)  Five years or more of service, at age sixty-two or thereafter.29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 3 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
(ii) Twenty years of service credit at any age, exclusive of military service1
and unused annual and sick leave, but any person retiring under this Item shall have2
his benefit, inclusive of military service credit and allowable unused annual and sick3
leave, actuarially reduced from the earliest age that he would normally become4
eligible for a regular retirement benefit under Item (i) of this Subparagraph if he had5
continued in service to that age.  Any employee who elects to retire under the6
provisions of this Item shall not be eligible to participate in the Deferred Retirement7
Option Plan provided by R.S. 11:447 or the Initial Benefit Option provided by R.S.8
11:446.9
*          *          *10
§461.  Eligibility; certification11
*          *          *12
B. The board of trustees shall award disability benefits to eligible members13
who have been officially certified as disabled by the State Medical Disability Board.14
The disability benefit shall be determined as follows:15
*          *          *16
(3)17
*          *          *18
(b) Any person who has not attained the age of sixty and whose employment19
first making him eligible for membership in the system occurred on or after July 1,20
2006, and on or before June 30, 2014, shall receive a disability benefit equal to two21
and one-half percent of average compensation for every year of creditable service.22
When the disability retiree attains the age of sixty, he shall receive his regular23
retirement benefit upon making application therefor to the board. The provisions of24
this Subparagraph shall not apply to any person who receives an additional benefit25
pursuant to R.S. 11:444(A)(2)(b) or (c) or 557 or R.S. 24:36 whose first employment26
making him eligible for membership in one of the state systems occurred on or27
before December 31, 2010.28 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 4 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
(c) Any person who has not attained the age of sixty-two and whose first1
employment making him eligible for membership in one of the state systems2
occurred on or after July 1, 2014, shall receive a disability benefit equal to two and3
one-half percent of average compensation for every year of creditable service. When4
the disability retiree attains the age of sixty-two, he shall receive his regular5
retirement benefit upon making application therefor to the board.6
*          *          *7
§726. Termination of membership; withdrawal from service after five years;8
retirement at age sixty regular retirement9
*          *          *10
B.(1) However, any member whose first employment making him eligible11
for membership in one of the state systems occurred on or before June 30, 2014, who12
has credit for five or more years of service may withdraw from service and elect to13
leave his accumulated contributions in the system and, upon reaching age sixty, he14
shall receive a retirement allowance based on the credits he had at the time of his15
withdrawal from service.16
(2) Any member whose first employment making him eligible for17
membership in one of the state systems occurred on or after July 1, 2014, who has18
credit for five or more years of service may withdraw from service and elect to leave19
his accumulated contributions in the system and, upon reaching age sixty-two, he20
shall receive a retirement allowance based on the credits he had at the time of his21
withdrawal from service.22
*          *          *23
§761. Retirement benefits; application; eligibility requirements; effective date;24
cancellation; errors and omissions25
A.26
*          *          *27
(3) Any person whose first employment making him eligible for membership28
in one of the state systems occurred on or after January 1, 2011, 	and on or before29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 5 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
June 30, 2014, may retire upon written application to the board of trustees, if at the1
time of application the member:2
(a) Has attained the age of sixty years and has credit for five years of3
accredited service.4
(b) Has twenty years of service credit at any age, exclusive of unused annual5
and sick leave and military service other than qualified military service as provided6
in 26 U.S.C. 414(u) earned on or after December 12, 1994, but any person retiring7
under this Subparagraph shall have his benefit, inclusive of military service credit8
and allowable unused annual and sick leave, actuarially reduced from the earliest age9
that he would normally become eligible for a regular retirement benefit under10
Subparagraph (a) of this Paragraph if he had continued in service to that age.  Any11
member who elects to retire under the provisions of this Subparagraph shall not be12
eligible to participate in the Deferred Retirement Option Plan provided by R.S.13
11:786 or the Initial Lump-Sum Benefit option provided by R.S. 11:783.14
(4)  Any person whose first employment making him eligible for membership15
in one of the state systems occurred on or after July 1, 2014, may retire upon written16
application to the board of trustees, if at the time of application the member:17
(a) Has attained the age of sixty-two years and has credit for five years of18
accredited service.19
(b) Has twenty years of service credit at any age, exclusive of unused annual20
and sick leave and military service other than qualified military service as provided21
in 26 U.S.C. 414(u) earned on or after December 12, 1994, but any person retiring22
under this Subparagraph shall have his benefit, inclusive of military service credit23
and allowable unused annual and sick leave, actuarially reduced from the earliest age24
that he would normally become eligible for a regular retirement benefit under25
Subparagraph (a) of this Paragraph if he had continued in service to that age.  Any26
member who elects to retire under the provisions of this Subparagraph shall not be27
eligible to participate in the Deferred Retirement Option Plan provided by R.S.28
11:786 or the Initial Lump-Sum Benefit option provided by R.S. 11:783.29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 6 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
(5)(a) A properly executed application for retirement shall be considered as1
officially filed when received by the board of trustees of this system. Retirement2
benefits shall become effective as of the date a properly executed application for3
retirement is received by the board of trustees of this system or the day after the4
member terminates from teaching service, whichever is later.5
(b) A member may cancel his application for retirement only prior to6
negotiating, cashing, or depositing any benefit check including an estimated benefit7
check.8
*          *          *9
§765.  Withdrawal from service after five years; retirement at age sixty10
A.(1) Any member whose first employment making him eligible for service11
in one of the state systems occurred on or before June 30, 2014, who has credit for12
five or more years of service may withdraw from service and elect to leave his13
accumulated contributions in the system and, upon reaching age sixty, he shall14
receive a retirement allowance based on the credits he had at the time of his15
withdrawal from service.16
(2) Any member whose first employment making him eligible for17
membership in one of the state systems occurred on or after July 1, 2014, who has18
credit for five or more years of service may withdraw from service and elect to leave19
his accumulated contribution in the system and, upon reaching age sixty-two, he20
shall receive a retirement allowance based on the credits he had at the time of his21
withdrawal from service.22
B.(1) The retirement allowance under this Section shall be due and payable23
by the system effective the first day of the month following the attainment of the age24
sixty required pursuant to Subsection A of this Section, but shall not be paid until a25
written application for retirement is executed and filed with the system.26
*          *          *27 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 7 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
§780. Reexamination of beneficiaries retired for disability; modification of benefits;1
restoration to active service2
A. Once each year during the first five years following any retirement of a3
member on a disability retirement allowance and once in every three-year period4
thereafter, the board of trustees shall require any disability beneficiary retiree whose5
first employment making him eligible for membership in one of the state systems6
occurred on or before June 30, 2014, who has not yet attained the age of sixty years7
and any disability retiree whose first employment making him eligible for8
membership in one of the state systems occurred on or after July 1, 2014, who has9
not yet attained the age of sixty-two to undergo a medical examination at the10
beneficiary's retiree's expense, to be made at the place of residence of the beneficiary11
retiree or other place mutually agreed upon, by a physician or physicians designated12
by the board of trustees.  The periodic reexaminations may be discontinued upon13
advice of the medical board that the retiree's condition is either terminal or that14
chances of recovery are highly improbable. If any such disability beneficiary retiree15
who has not yet attained the age of sixty years refuses to submit to at least one16
medical examination in any such year by a physician or physicians designated by the17
board of trustees, his allowance may be discontinued until his withdrawal of such18
refusal; but if his refusal continues for one year, all of his rights in and to his pension19
may be revoked by the board of trustees.20
B. Every disability beneficiary retiree except a disability beneficiary retiree21
who had no earnings and is determined by the Teachers' Retirement System of22
Louisiana to be incapacitated or who is residing in a nursing home shall submit to23
the board of trustees by May first of every year, a notarized annual earnings24
statement detailing his earned income from employment in the previous tax year.25
Should a beneficiary retiree refuse to submit such an earnings statement by May26
first, his allowance may be discontinued without retroactive reimbursement, until the27
statement is filed. Should his refusal continue for the remainder of the calendar year,28
all his rights in and to his disability pension may be revoked by the board of trustees.29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 8 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
C.(1) Notwithstanding the provisions of R.S. 11:221, if the medical board1
reports and certifies to the board of trustees that a disability beneficiary retiree is able2
to engage in a gainful occupation paying more than the difference between his3
retirement allowance and the average final compensation, and if the board of trustees4
concurs in this report, then, except as provided in either Paragraph (2) or (3) of this5
Subsection, the amount of his pension shall be reduced to an amount which, together6
with his annuity and the amount earnable by him, shall equal the amount of his7
average final compensation. If his earning capacity is later changed, the amount of8
his pension may be further modified; provided, that however, the new pension shall9
not exceed the amount of the pension originally granted nor an amount which, when10
added to the amount earnable by the beneficiary retiree together with his annuity,11
equals the amount of his average final compensation.12
(2)(a) The pay which is used to reduce benefits pursuant to Paragraph (1) of13
this Subsection shall not include the amount equal to the difference between the14
beneficiary's retiree's total annual benefit and the poverty threshold for a family unit15
of one person under age sixty-five as determined by the United States Bureau of the16
Census for the year in which such pay is earned.17
(b) Any disability beneficiary  retiree who is engaged in a gainful occupation18
shall provide such information or documentation as may be requested by the system19
to implement the provisions of this Paragraph.20
(3)(a) If, pursuant to the provisions of this Subsection, the board of trustees21
reduces the pension of any disability beneficiary retiree of this system who retired22
pursuant to a reciprocal agreement between this system and any other state or23
statewide public retirement system, the reduction shall be subject to Subparagraph24
(b) of this Paragraph, provided the beneficiary retiree satisfies all of the following25
provisions of this Subparagraph:26
(i) The vocational rehabilitation program within the Department of Children27
and Family Services furnishes the beneficiary retiree with durable medical28 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 9 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
equipment for use, subject to a requirement that the beneficiary retiree be engaged1
in a gainful occupation for at least twenty hours per week.2
(ii) The beneficiary retiree furnishes any documentation as may be requested3
by the Teachers' Retirement System of Louisiana.4
(b) Any income earned while working the twenty hours required by the5
vocational rehabilitation program in order to use such durable medical equipment6
shall not be included in the pay which is used to implement Paragraph (1) of this7
Subsection. Any income which is derived from the same employment, but which is8
derived from work in excess of the twenty hours required in relation to such9
equipment shall be included for purposes of implementing Paragraph (1) of this10
Subsection.11
D.  For the purposes of this Section, there shall be an annual cost-of-living12
adjustment to the average final compensation figure used in the modification13
computations. This cost-of-living adjustment shall be based upon and directly reflect14
the annual percentage increase or decrease in the Consumer Price Index for the15
preceding calendar year.16
E. If any disability 	beneficiary retiree is restored to active service,  his17
retirement allowance shall cease, he shall again become a member of the retirement18
system, and he shall contribute thereafter at the current rate in effect at the time he19
is restored to service, and if he contributes for at least three years, the period of time20
on disability shall be counted as accredited service for purposes of establishing21
retirement eligibility, but not for computation of benefits.  Any prior service22
certificate on the basis of which his service was computed at the time of his23
retirement shall be restored to full force and effect and, in addition, upon his24
subsequent retirement he shall be credited with all his service as a member.25
*          *          *26 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 10 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
§783.  Selection of option for method of payment after death of member1
A. 2
*          *          *3
(3) Initial Lump-Sum Benefit.  (a) If a member has not participated in the4
Deferred Retirement Option Plan provided by the provisions of this Chapter, he shall5
be eligible to select an initial lump-sum benefit. The initial lump-sum benefit shall6
be available to any member of the system whose first employment making him7
eligible for membership in one of the state retirement systems occurred on or before8
December 31, 2010, and who has thirty years of creditable service, or is at least age9
fifty-five and has twenty-five years of creditable service, or is at least age sixty and10
has ten years of creditable service. Any member of the system whose first11
employment making him eligible for membership in one of the state retirement12
systems occurred on or after January 1, 2011, and on or before June 30, 2014, may13
select the initial lump-sum benefit if he is at least age sixty and has five years of14
service.  Any member of the system whose first employment making him eligible for15
membership in one of the state retirement systems occurred on or after July 1, 2014,16
may select the initial lump-sum benefit if he is at least age sixty-two and has five17
years of service. If the maximum benefit, Option 2, 2A, 3, 3A, 4, or 4A above is18
chosen, then the member may further elect to receive a reduced retirement allowance19
plus an initial benefit. The creditable service referenced in this Paragraph shall not20
include unused accumulated sick leave and unused accumulated annual leave.21
*          *          *22
§786.  Deferred Retirement Option Plan23
A.24
*          *          *25
(2) Any member of this system whose first employment making him eligible26
for membership in one of the state retirement systems occurred on or after January27
1, 2011, and on or before June 30, 2014, and who is not covered by R.S. 11:801 and28 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 11 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
who has five years of service credit and is at least age sixty may elect to participate1
in the Deferred Retirement Option Plan.2
(3) Any member of this system 	whose first employment making him eligible3
for membership in one of the state retirement systems occurred on or before June 30,4
2014, who is covered by the provisions of R.S. 11:801 who has thirty years of5
service credit and is at least age fifty-five or has ten years of service credit and is at6
least age sixty may elect to participate in the Deferred Retirement Option Plan.7
(4) Any member of this system whose first employment making him eligible8
for membership in one of the state retirement systems occurred on or after July 1,9
2014, who has at least five years of service credit and is at least age sixty-two may10
elect to participate in the Deferred Retirement Option Plan.11
*          *          *12
§802.  Eligibility for regular retirement13
A. Any member covered by R.S. 11:801 	whose first employm ent making14
him eligible for membership in one of the state systems occurred on or before June15
30, 2014, shall be eligible to retire if he has at least:16
(1)  Thirty years of creditable service, and is at least age fifty-five.17
(2)  Five years of creditable service, and is at least age sixty.18
B.  Any member covered by R.S. 11:801 whose first employment making19
him eligible for membership in a state system occurred on or after July 1, 2014, shall20
be eligible to retire if he has at least:21
(1)  Five years of creditable service, and is at least age sixty-two.22
(2) Twenty years of service credit at any age, exclusive of unused annual and23
sick leave and military service other than qualified military service as provided in 2624
U.S.C. 414(u) earned on or after December 12, 1994, but any person retiring under25
this Paragraph shall have his benefit, inclusive of military service credit and26
allowable unused annual and sick leave, actuarially reduced from the earliest age that27
he would normally become eligible for a regular retirement benefit under Paragraph28
(1) of this Subsection if he had continued in service to that age. Any member who29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 12 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
elects to retire under the provisions of this Paragraph shall not be eligible to1
participate in the Deferred Retirement Option Plan provided by R.S. 11:786 or the2
Initial Lump-Sum Benefit option provided by R.S. 11:783.3
*          *          *4
§1141. Retirement benefits; application; eligibility requirements; effective date;5
cancellation6
A. Any member whose first employment making him eligible for7
membership in one of the state systems occurred on or before June 30, 2010, may8
retire upon written application to the board of trustees, if the member at the time of9
application has attained the age of sixty years and has credit for ten years of10
accredited service or has attained the age of fifty-five years and has credit for11
twenty-five or more years of accredited service or at any age with thirty or more12
years of accredited service. Any member whose first employment making him13
eligible for membership in one of the state systems occurred on or after July 1, 2010,14
and on or before June 30, 2014, may retire upon written application to the board of15
trustees, if the member at the time of application has attained the age of sixty years16
and has credit for five years of accredited service.  Any member whose first17
employment making him eligible for membership in one of the state systems18
occurred on or after July 1, 2014, may retire upon written application to the board19
of trustees, if the member at the time of application has attained the age of sixty-two20
years and has credit for five years of accredited service. An application for21
retirement shall be officially filed with the board when received in the office of the22
director. Retirement benefits shall become effective as of the date an application for23
retirement is filed in the office of the director or the day after the member terminates24
from service, whichever is later. A member may cancel his application for25
retirement only prior to negotiating, cashing, or depositing any benefit check26
including an estimated benefit check.27
*          *          *28 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 13 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
§1142.  Withdrawal after ten years; retirement allowance at age sixty 1
A. Any member whose first employment making him eligible for2
membership in one of the state systems occurred on or before June 30, 2014, who3
has credit for ten or more years of regular, full-time service may withdraw from4
service and elect to leave his accumulated contributions in the system and upon5
reaching age sixty, he shall be eligible to receive a retirement allowance based on the6
credits he had at the time of his withdrawal from service.  7
B. Any member whose first employment making him eligible for8
membership in one of the state systems occurred on or after July 1, 2014, who has9
credit for ten or more years of regular, full-time service may withdraw from service10
and elect to leave his accumulated contributions in the system and upon reaching age11
sixty-two, he shall be eligible to receive a retirement allowance based on the credits12
he had at the time of his withdrawal from service.13
*          *          *14
§1147.  Disability retirement15
*          *          *16
C.17
*          *          *18
(4)(a) Regardless of the effective date of his retirement and notwithstanding19
the provisions of R.S. 11:220(A) and R.S. 11:221(C)221(C), a disability retiree20
whose first employment making him eligible for membership in one of the state21
systems occurred on or before June 30, 2014, shall no longer be required to submit22
to regular medical exams nor to file the annual income report upon attainment of age23
sixty and thereafter.24
(b) Regardless of the effective date of his retirement and notwithstanding the25
provisions of R.S. 11:220(A) and 221(C), a disability retiree whose first employment26
making him eligible for membership in one of the state systems occurred on or after27
July 1, 2014, shall no longer be required to submit to regular medical exams nor to28
file the annual income report upon attainment of age sixty-two.29 HLS 14RS-295	ENGROSSED
HB NO. 38
Page 14 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
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)]
Pearson	HB No. 38
Abstract: For members joining the system on or after July 1, 2014, changes the retirement
age from 60 to 62 for new rank-and-file members of the La. State Employees'
Retirement System (LASERS) and all new members of the Teachers' Retirement
System of La. (TRSL) and the La. School Employees' Retirement System (LSERS).
RETIREMENT ELIGIBILITY
Present law for LASERS and TRSL except certain TRSL members paid from school food
service funds provides the following retirement eligibilities for members whose first
employment making them eligible for membership in any state retirement system occurred
on or after Jan. 1, 2011:
(1)Retirement at age 60 after five years of service.
(2)Retirement at any age after 20 years of service; however, the member's benefit will
be actuarially reduced from age 60.
Present law provides the following retirement eligibilities for members of TRSL paid from
school food service funds:
(1)Five years of service and at least age 60.
(2)30 years of service and at least age 55.
Proposed law retains present law for such members hired on or before June 30, 2014.
Present law for LSERS provides the following retirement eligibilities for members whose
first employment making them eligible for membership in any state system occurred on or
after July 1, 2010:
(1)Retirement at age 60 after five years of service.
(2)Retirement at any age after 20 years of service; however, member's benefit will be
actuarially reduced from age 60.
Proposed law retains present law for such members hired on or before June 30, 2014.
Proposed law provides for retirement eligibility for the following members whose first
employment making them eligible for membership in a state retirement system began on or
after July 1, 2014:
(1)Rank-and-file members of LASERS.
(2)All members of TRSL.
(3)All members of LSERS. HLS 14RS-295	ENGROSSED
HB NO. 38
Page 15 of 15
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Proposed law provides that such members are eligible for retirement at age 62 after five
years of service.  For all of the above members that are presently eligible, eligibility for an
actuarially reduced retirement after 20 years of service at any age has been retained.  The
actuarial reduction for new members under proposed law would be from age 62.
Proposed law establishes the following retirement eligibilities for TRSL members paid from
food service funds whose first employment making them eligible for membership in a state
system occurred on or after July 1, 2014:
(1)Five years of service and at least age 62.
(2)20 years of service at any age, actuarially reduced from age 62.
DISABILITY
Present law provides that members of LASERS, TRSL, and LSERS who become disabled
are required to have a physician certify their continued total disability every three years until
they attain age 60.  Proposed law retains present law for all members whose first
employment making them eligible for membership in a state retirement system occurred
prior to July 1, 2014.  Proposed law further provides that for all members whose first
employment making them eligible for membership in a state retirement system occurred on
or after July 1, 2014, such certification must continue until the member attains age 62.
COST-OF-LIVING ADJUSTMENTS
Present law provides the following qualifications for eligibility for permanent benefit
increases granted pursuant to a system's experience account:
(1)The retiree must have attained at least age 60 and have been retired for at least one
year prior to the granting of the increase.
(2)The retiree or the beneficiary of a retiree must have received benefits for at least one
year prior to the granting of the increase, and the retiree would have attained age 60
by the time the increase is granted.
(3)Disability retirees, regardless of age, must have received benefits for at least one year
prior to the granting of the increase.
Proposed law retains present law for all members, regardless of the date the member joined
the system.
Proposed law further provides technical corrections to present law.
(Amends R.S. 11:441(A)(2)(b), 461(B)(3)(b), 726(B), 761(A)(3) and (4), 765(A) and (B)(1),
780, 783(A)(3)(a), 786(A)(2) and (3), 802, 1141(A), 1142, and 1147(C)(4); Adds R.S.
11:441(A)(2)(c), 461(B)(3)(c), 761(A)(5), and 786(A)(4))