2022 Regular Session ENROLLED
SENATE BILL NO. 5
BY SENATOR PRICE AND REPRESENTATIVES ADAMS, BACALA, BOYD,
DEVILLIER, ILLG, JEFFERSON, LAFLEUR, LARVADAIN,
NELSON AND TARVER
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
18 June 30, 2022.
19 (3) Any disability retiree or beneficiary who receives benefits based on
20 the death of a disability retiree, if benefits have been paid to the retiree or the
21 beneficiary or both combined for at least one year on June 30, 2022.
22 B. The nonrecurring lump-sum supplemental payment paid pursuant to
23 the provisions of this Section shall be paid from funds in the system experience
24 account and is payable not later than September 15, 2022.
ACT No. 656
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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 ENROLLED
1 C. Each retiree or beneficiary to whom this Section applies shall receive
2 a nonrecurring lump-sum supplemental payment in an amount that is equal to
3 the lesser of:
4 (1) The retiree or beneficiary's current monthly benefit.
5 (2) Two thousand dollars.
6 Section 2. The cost of this Act shall be funded with monies from the system's
7 experience account. Any additional cost of this Act shall be funded with additional employer
8 contributions in compliance with Article X, Section 29(F) of the Louisiana Constitution.
9 Section 3. The Louisiana State Law Institute is hereby directed to change all
10 references to retirement benefit increases or other payments funded by the experience
11 account of the Louisiana State Employees' Retirement System, R.S. 11:542, from
12 "permanent benefit increases" to "cost-of-living adjustments" throughout Title 11 of the
13 Louisiana Revised Statutes of 1950.
14 Section 4. This Act shall become effective upon signature by the governor or, if not
15 signed by the governor, upon expiration of the time for bills to become law without signature
16 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
17 vetoed by the governor and subsequently approved by the legislature, this Act shall become
18 effective on the day following such approval.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.