Louisiana Senate Bill SB24

Louisiana 2012 Regular Session

• Introduced: 3/12/12
• Refer: 3/12/12
• Report Pass: 3/26/12
• Engrossed: 3/28/12
• Refer: 3/29/12
• Report Pass: 4/30/12
• Enrolled: 5/17/12
• Chaptered: 5/22/12
• Passed: 5/22/12

Caption

Provides for compliance with federal tax qualification requirements. (6/30/12) (EN INCREASE APV)

Impact

The bill's enactment will positively impact state laws by clarifying how military service is regarded in terms of future eligibility for retirement benefits. By allowing time spent in military service to be credited for vesting purposes, it builds a more inclusive framework for individuals who have served in the military, ensuring they, and their beneficiaries, receive due recognition and support in the retirement system. Additionally, the bill repeals outdated provisions in the retirement statutes, streamlining the legal framework governing the retirement system.

Summary

Senate Bill 24, introduced by Senator Guillory, is focused on amending the state's retirement system provisions, particularly concerning the Registrars of Voters Employees' Retirement System. It aims to ensure compliance with federal tax qualification requirements, which are crucial for the integrity and operational viability of retirement plans. This amendment is particularly relevant to survivors' benefits for members who die while performing qualified military service. The bill highlights the importance of recognizing military service in calculating eligibility for survivor benefits, thereby aligning state laws with federal standards.

Sentiment

The sentiment around SB 24 appears to be generally supportive, particularly among lawmakers who prioritize veterans' rights and benefits. By extending survivor benefits eligibility to those with military service, the bill reflects a broader commitment to uphold the rights and welfare of service members and their families. However, there may be concerns regarding the fiscal implications of these changes, especially related to the administration of the retirement system and potential costs associated with expanding benefits.

Contention

Despite its overall positive reception, some points of contention may arise from discussions about the financial sustainability of expanding eligibility for survivor benefits. Critics may raise questions regarding the long-term viability of the retirement system in accommodating these changes and the necessity of funding such expansions. Furthermore, some stakeholders may debate the efficacy of existing legislation and whether further amendments are needed to better serve those affected by the law.