Louisiana Senate Bill SB175

Louisiana 2013 Regular Session

• Introduced: 4/8/13
• Refer: 4/8/13
• Report Pass: 4/29/13
• Engrossed: 5/1/13
• Refer: 5/2/13
• Report Pass: 5/13/13
• Enrolled: 5/31/13
• Chaptered: 6/14/13
• Passed: 6/14/13

Caption

Creates a fund to pay group insurance premiums for retired assessors and employees of the assessor's office in Orleans Parish. (8/1/13) (EN SEE FISC NOTE LF RV)

Impact

The implementation of SB175 signifies a legislative commitment to providing financial support to retired public servants within Orleans Parish. It ensures that those who have dedicated their careers to public service can receive continued assistance through health insurance. By creating a designated fund, the bill aims to prevent any potential shortfall in covering these essential insurance payments, thereby securing the welfare of retired officials and their beneficiaries.

Summary

Senate Bill 175 establishes the Orleans Parish Assessor's Office Retired Employees Insurance Fund (OPAREIF) dedicated to covering insurance premiums for eligible retired assessors and employees of the Orleans Parish Assessor's Office. The bill mandates that annual deposits are made from the general fund of the assessor's office into the OPAREIF until it meets the accrued liability required for the promised benefits. Furthermore, the fund's financial status will be assessed annually to ensure sustainability in covering these expenses.

Sentiment

The sentiment surrounding SB175 has been largely positive, particularly among groups advocating for retired public employees and their benefits. Legislators expressed broad support for the bill, recognizing the importance of safeguarding the health benefits of retired assessors. Its unanimous passage in the Senate indicates a strong legislative consensus on prioritizing the well-being of those who have served the community in this capacity. The support reflects an acknowledgment of the need for stability in retirement benefits amidst broader discussions on public employee compensation.

Contention

While SB175 was passed without opposition, discussions surrounding the bill did highlight some considerations regarding the adequate funding of the OPAREIF. Concerns were raised about the long-term viability of the fund, especially regarding its dependency on the general fund of the assessor's office. Critics in broader discussions caution against potential funding issues that may arise in the future, which could jeopardize the promised benefits should economic conditions impact local revenues.