Removes employees of the Regional Transit Authority from the state system and state civil service. (gov sig) (Item #62) (EN DECREASE APV)
The bill will have a direct impact on the financial responsibilities related to the unfunded accrued liabilities of the retirement system. It mandates that the Regional Transit Authority remit payments for the unfunded accrued liability attributed to them, which is to be calculated and amortized over ten years. This financial obligation seeks to address previous debts owed to the retirement system, ensuring that the authority contributes towards its financial stability while modifying employee benefits in a way that limits their participation in state systems.
Senate Bill No. 26 aims to amend the laws governing the employees of the Regional Transit Authority in Louisiana. The primary focus of the bill is to redefine the status of these employees concerning the Louisiana State Employees' Retirement System and the state civil service system. Specifically, the bill stipulates that employees covered by a collective bargaining agreement or those part of other retirement plans will not be considered part of the state civil service. This amendment is significant for the employees of the authority as it alters their eligibility for participation in the state retirement systems.
Sentiment around SB 26 appears to be supportive among the legislators who favor redefining the employment structure of the Regional Transit Authority. The supporters argue that the bill promotes fiscal responsibility by addressing the liabilities associated with the state retirement system. However, there are underlying concerns regarding the potential consequences for employees who may lose certain benefits and protections afforded by being part of the state civil service system.
A notable point of contention surrounds the removal of certain employees from the state's civil service classification. Opponents argue that this move could jeopardize job security and diminish the benefits available to those employed by the Regional Transit Authority. While supporters emphasize the importance of addressing the financial aspect related to the retirement system, critics raise concerns about the implications this legislation will have on employee rights and the overall treatment of transit authority workers.