Louisiana Senate Bill SB15

Louisiana 2014 Regular Session

• Introduced: 3/10/14
• Refer: 3/10/14

Caption

Provides for a survivor lump sum benefit option. (2/3 - CA10s29(F)) (6/30/14)

Impact

The introduction of this bill represents a significant change in the way survivor benefits are allocated within the state's retirement system. With the inclusion of the lump sum option, the bill is intended to offer greater flexibility and financial assistance to families of judges who may face financial difficulties following the loss of their spouse. This provision also aligns with existing legal frameworks regarding retirement benefits, as it adds a layer of support specifically tailored for those who have served in the judiciary and were in good standing at the time of their death.

Summary

Senate Bill 15, introduced by Senator Ward, enacts provisions for a new survivor lump sum benefit option specifically for the surviving spouses of judges who were in office prior to January 1, 2011. This legislation aims to provide a financial safety net for the families of judges by allowing them to opt for a lump sum payment from the Louisiana State Employees' Retirement System (LASERS) if specific eligibility criteria are met. The bill stipulates that a surviving spouse can elect to receive a benefit equivalent to a maximum of 36 months of the deceased judge's retirement allowance, calculated as if the judge had retired just before their death.

Sentiment

The sentiment around SB15 appears to be supportive among legislators, especially those advocating for the rights and benefits of judicial officers and their families. Proponents argue that this enhancement in benefits reflects a commitment to support public servants and their families during times of hardship. However, the bill's progress may face scrutiny regarding its fiscal implications for the state pension system and whether additional employer contributions will be sustainable in the long term.

Contention

While the bill is largely viewed favorably, it does raise some potential concerns regarding funding and distribution of public resources. Critics may question the financial viability of expanding benefits for judges, given the need for additional employer contributions as noted in the bill. Furthermore, discussions may arise about the adequacy of the retirement benefits already provided to judges and whether the proposed lump sum benefit addresses the broader needs of public employee benefits in Louisiana.