Louisiana 2015 2015 Regular Session

Louisiana House Bill HB40 Comm Sub / Analysis

                    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)]
HB 40 Original	2015 Regular Session	Gaines
Abstract:   Exempts members of statewide public retirement systems from the present law
requirement that a member must have a minimum of 20 years of service credit in the system
before he may purchase credit for military service.
Present law (R.S. 11:153) establishes guidelines for members of state and statewide public retirement
systems for the purchase of credit for military service.
Present law (R.S. 11:153(E)(1)) generally prohibits military service credit from being used for
eligibility for disability or survivor's benefits.  Proposed law retains present law.
Present law (R.S. 11:153(E)(2)) provides that in systems which authorize retirement with 20 or more
years of service at any age, or 20 or more years of service at age 50, military service credit shall not
be computed until after the completion of 20 full years of service.  In addition, such military service
credit shall not be used to meet the minimum eligibility requirement of any regular retirement of less
than 20 years.
Proposed law provides and exception to present law for members of statewide retirement systems. 
Authorizes purchase of credit for military service at any time, regardless of the number of years of
service credit the member has in the system.
The following are considered statewide retirement systems:
(1)Louisiana Assessors' Retirement Fund
(2)Clerks of Court Retirement and Relief Fund
(3)District Attorneys' Retirement System
(4)Firefighters' Retirement System
(5)Municipal Employees' Retirement System
(6)Municipal Police Employees' Retirement System
(7)Parochial Employees' Retirement System (8)Registrars of Voters Employees' Retirement System
(9)Sheriffs' Pension and Relief Fund
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 11:153(E)(3))