Louisiana House Bill HB19

Louisiana 2021 Regular Session

• Introduced: 2/19/21
• Refer: 2/22/21
• Refer: 4/12/21
• Report Pass: 4/29/21
• Engrossed: 5/5/21
• Refer: 5/6/21
• Report Pass: 5/17/21
• Enrolled: 6/1/21
• Chaptered: 6/11/21
• Passed: 6/11/21

Caption

Provides relative to the selection of certain optional survivor benefits for members of the Louisiana State Employees' Retirement System (EN INCREASE APV)

Impact

By modifying existing laws regarding survivor benefits, HB 19 significantly impacts how benefits are calculated and distributed to the families of deceased employees. The amendment not only clarifies eligibility but also provides a more favorable structure for those with mentally disabled children. It allows for a choice that can enhance financial planning and security for these families. This legislative change is expected to create a more equitable system that responds to the needs of state employees and their unique familial situations.

Summary

House Bill 19 aims to amend the provisions related to survivor benefits within the Louisiana State Employees' Retirement System. The bill introduces options that allow members with mentally disabled children to elect survivor benefits calculated as if they had retired immediately prior to their death. This provides greater financial security for families with special needs dependents, ensuring they receive suitable benefits even after the member's passing. The design of these provisions reflects a careful consideration of the unique circumstances faced by such families.

Sentiment

The sentiment surrounding HB 19 has been generally positive, with support noted from various lawmakers and advocacy groups. Proponents appreciate the recognition of the special needs of families with mentally disabled children, viewing the bill as a compassionate step toward improving support systems within the state’s retirement framework. There is a shared sentiment that this change is overdue and necessary for equity within the retirement system, although some concerns about the long-term financial implications on the retirement fund were raised.

Contention

Despite the overall support, there were concerns voiced regarding the potential fiscal impact of the bill. Some critics questioned whether the additional provisions could strain the retirement system's finances, particularly if the number of electing members were to be significant. There were also discussions about the irrevocability of the election process for benefits, which could lock members into a decision that they may later question. Balancing the needs of individuals with the sustainability of the benefits system remains a key point of contention as the legislative process continues.