SLS 22RS-61 ORIGINAL
2022 Regular Session
SENATE BILL NO. 5
BY SENATOR PRICE
STATE EMPLOYEE RET. Grants a nonrecurring lump-sum supplemental payment to
eligible certain retirees and beneficiaries. (2/3 - CA10s29(F)) (gov sig)
1 AN ACT
2 To enact R.S. 11:542.3, relative to the Louisiana State Employees' Retirement System; to
3 provide with respect to a nonrecurring lump-sum supplemental payment to certain
4 retirees and beneficiaries; to provide relative to eligibility for and calculation of such
5 payment; to provide for an effective date; and to provide for related matters.
6 Notice of intention to introduce this Act has been published.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 11:542.3 is hereby enacted to read as follows:
9 ยง542.3. Nonrecurring lump-sum supplemental payment for 2022; payment
10 from experience account
11 A. A nonrecurring lump-sum supplemental payment shall be payable to
12 the following retirees and beneficiaries:
13 (1) Any retiree, other than a disability retiree, who has attained at least
14 age sixty and who has received a benefit for at least one year on June 30, 2022.
15 (2) Any nonretiree beneficiary, if benefits have been paid to the retiree
16 who was not a disability retiree or the beneficiary or both combined for at least
17 one year and if the decedent would have attained at least age sixty on
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 5
SLS 22RS-61 ORIGINAL
1 June 30, 2022.
2 (3) Any disability retiree or beneficiary who receives benefits based on
3 the death of a disability retiree, if benefits have been paid to the retiree or the
4 beneficiary or both combined for at least one year on June 30, 2022.
5 B. The nonrecurring lump-sum supplemental payment paid pursuant to
6 the provisions of this Section shall be paid from funds in the system experience
7 account and is payable not later than September 15, 2022.
8 C. Each retiree or beneficiary to whom this Section applies shall receive
9 a nonrecurring lump-sum supplemental payment in an amount that is equal to
10 the lesser of:
11 (1) The retiree or beneficiary's current monthly benefit.
12 (2) Three thousand dollars.
13 Section 2. The cost of this Act shall be funded with monies from the system's
14 experience account. Any additional cost of this Act shall be funded with additional employer
15 contributions in compliance with Article X, Section 29(F) of the Louisiana Constitution.
16 Section 3. This Act shall become effective upon signature by the governor or, if not
17 signed by the governor, upon expiration of the time for bills to become law without signature
18 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
19 vetoed by the governor and subsequently approved by the legislature, this Act shall become
20 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Angela L. De Jean.
DIGEST
SB 5 Original 2022 Regular Session Price
Proposed law grants a nonrecurring lump-sum supplemental payment to the following
retirees and beneficiaries:
(1)Any retiree, other than a disability retiree, who has attained at least age 60 and who
has received a benefit for at least one year on 6/30/22.
(2)Any nonretiree beneficiary, if benefits had been paid to the retiree who was not a
disability retiree or the beneficiary or both combined for at least one year and if the
deceased person would have attained age 60 on 6/30/22.
(3)Any disability retiree or a person who receives benefits from the system based on the
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 5
SLS 22RS-61 ORIGINAL
death of a disability retiree, if benefits have been paid to the retiree or the beneficiary
or both combined for at least one year on 6/30/22.
Proposed law provides that the supplemental payment paid pursuant to the provisions of
proposed law shall be paid from funds in the system experience account.
Proposed law provides that the supplemental payment is payable not later than 9/15/22.
Proposed law provides that each retiree or beneficiary to whom proposed law applies shall
receive a nonrecurring lump-sum supplemental payment in an amount that is equal to the
lesser of:
(1)The retiree or beneficiary's current monthly benefit.
(2)$3,000.00.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 11:542.3)
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.