Provides relative to the removal of a former spouse as a designated beneficiary of an active member of the Firefighters' Retirement System (EN NO IMPACT APV)
Impact
If enacted, HB 76 would make significant modifications to the existing laws governing beneficiary designations within the Firefighters Retirement System. The bill explicitly states that members or retirees can restore their benefits to the maximum allowable amount after the removal of a former spouse. This provision is intended to ensure that retirement benefits are retained appropriately in scenarios where relationships have changed, particularly through divorce.
Summary
House Bill 76 seeks to amend the provisions regarding the removal of a former spouse as a designated beneficiary for members of the Firefighters Retirement System in Louisiana. The bill allows active members or retirees to remove a former spouse from beneficiary status, given that the removal is consented to by the former spouse and is backed by a certified court order related to the divorce proceedings. This change aims to provide more clarity and legal support for members wishing to adjust their beneficiary designations post-divorce.
Sentiment
The sentiment surrounding HB 76 appears to be largely positive among legislators, as evidenced by the unanimous vote in favor (36 yeas, 0 nays) that it received during its passage. Supporters of the bill, including those advocating for the rights and benefits of members of the Firefighters Retirement System, see this measure as a necessary refinement of the law that aligns more closely with personal situations members may encounter, like divorce.
Contention
While the bill was passed without noted opposition, potential points of contention could arise in practical application. For instance, future disputes may occur about the consent process for the removal of a former spouse, especially if disputes emerge post-divorce about the interpretation or enforcement of the certified court order required for beneficiary removal. Additionally, the implications of how this change could impact former spouses in terms of financial security may also warrant discussion in related legislative and public forums.
Provides relative to the Municipal Police Employees' Retirement System, allows a retiree to change his designated beneficiary from a former spouse to a current spouse (OR NO IMPACT APV)
Provides relative to the Municipal Police Employees' Retirement System, allows a retiree to change his designated beneficiary from a former spouse to a current spouse (OR SEE ACTUARIAL NOTE)
Provides for the benefit payable to retired member of the Municipal Employees' Retirement System of Louisiana upon death of beneficiary (EN NO IMPACT APV)