Authorizes a natural or juridical person to serve as director of the Registrars of Voters Employees' Retirement System (EG NO IMPACT APV)
Impact
The bill states that the newly appointed director must not provide actuarial or auditing services to ROVERS while serving in this capacity. This measure is intended to prevent conflicts of interest and ensure impartial governance. The fiscal and actuarial impacts of HB 20 are projected to be negligible, with no anticipated changes in benefit payments or costs associated with the retirement systems and associated entities involved.
Summary
House Bill 20 aims to amend the current law governing the appointment of the director of the Registrars of Voters Employees’ Retirement System (ROVERS). The legislation allows for a 'juridical person'—which can be understood as any legal entity like a corporation or partnership—to be appointed as the director, instead of requiring a natural person. This change modernizes the eligibility criteria for directorship and reflects a trend towards allowing more flexibility in leadership roles within governmental systems.
Sentiment
The sentiment surrounding HB 20 appears to be largely neutral, as the bill does not seem to generate significant controversy or opposition. It is recognized as a technical adjustment to the existing law rather than a sweeping reform. Legislative discussions have confirmed that the bill is primarily aimed at improving the operational aspects of the retirement system management rather than altering the underlying benefits offered to employees.
Contestion
Despite the bill's benign implications, any potential contention could arise around the interpretation of 'juridical person' and concerns about accountability, particularly if the new directorship allows for less oversight. Critics may argue that enabling corporations or legal entities to hold directorship could lead to reduced personal accountability regarding the management of the retirement system and its oversight.
Provides for the incorporation of the Registrars of Voters Employees' Retirement System into the Louisiana State Employees' Retirement System (OR SEE ACTUARIAL NOTE)
Provides for the incorporation of the Registrars of Voters Employees' Retirement Plan into the Louisiana State Employees' Retirement System (OR SEE ACTUARIAL NOTE)
Provides relative to the calculation of final average compensation for members of the Registrars of Voters Employees' Retirement System (EG NO IMPACT APV)
Provides for the annual amount of retirement allowance for members of the Registrars of Voters Employees' Retirement System (EN SEE ACTUARIAL NOTE APV)
Provides relative to the maximum benefits for members of the Registrars of Voters Employees' Retirement System hired on or before December 31, 2012 (EN NO IMPACT APV)