Louisiana 2014 Regular Session

Louisiana House Bill HB47

Introduced
3/10/14  
Introduced
3/10/14  
Refer
3/10/14  
Report Pass
4/14/14  

Caption

Provides relative to the Bossier Parish Retired Employees Insurance Fund (OR SEE FISC NOTE LF EX)

Impact

The bill's changes potentially affect future retirees of the Bossier Parish Sheriff's Office, creating different insurance premium obligations based on service length and age. By limiting who qualifies for full and partial coverage, it aims to address financial sustainability issues within the insurance fund. The transition from a no age requirement to specific age thresholds for premium coverage could influence retirement planning for current law enforcement employees and could spark discussions on the adequacy of benefits provided to public servants after their careers.

Summary

House Bill 47 aims to amend the eligibility requirements for the payment of insurance premiums from the Bossier Parish Retired Employees Insurance Fund. The proposed changes include adjusting the age requirements for full and partial payment of premiums and establishing a board of trustees responsible for oversight of the fund's investments. Under the current law, 100% of premium costs are covered for retirees with 30 years of service, while those with 20 years receive 50% coverage. The new bill changes the age requirement to at least 55 for full coverage and introduces a minimum age of 60 for partial coverage, impacting a specific cohort of retired sheriffs and employees who joined after a designated date.

Sentiment

The sentiment regarding HB 47 appears to be pragmatic, focusing on the necessity of sustainable benefits for retired sheriffs. Proponents likely argue that revisions to the age requirements ensure the viability of the insurance fund and maintain financial balance. However, there may be concerns from retirees and their advocates about the potential decrease in benefits, which could create a perception of inequity among those who have dedicated significant years to public service. Overall, reactions may vary significantly based on individual perspectives on public sector retirement benefits.

Contention

Notable contention revolves around the implications of increasing age requirements for receiving premium coverage. Critics may contend that this change disproportionately affects older retirees who might rely on such benefits post-retirement, arguing it could serve as a cost-cutting measure at the expense of those dependent on their entitlements. Additionally, the shift in establishing a board of trustees in place of an advisory board raises questions about governance and decision-making regarding fund management, which could influence future expenditure and investment strategies for the insurance fund.

Companion Bills

No companion bills found.

Previously Filed As

LA HB1263

Provides relative to the payment of group insurance premiums for retired sheriffs and employees of the Bossier Parish Sheriff's Office (EN SEE FISC NOTE LF EX See Note)

LA HB746

Provides relative to the Bossier Parish Retired Employees Insurance Fund

LA HB24

Relative to the payment of group insurance premiums for retired sheriffs and employees of the Bossier Parish Sheriff's Office (EN NO IMPACT LF EX See Note)

LA HB183

Provides for the investment and use of monies in the Bossier Parish Retired Employees Insurance Fund (EN +$150,000 LF RV See Note)

LA HB473

Provides for payment of group insurance benefits for retired sheriffs and deputy sheriffs in Bossier Parish (EN SEE FISC NOTE LF EX)

LA HB360

Provides relative to the payment of group insurance premiums for retired sheriffs and employees hired on or after September 1, 2013, for Lincoln Parish (EN SEE FISC NOTE LF EX See Note)

LA HB772

Provides relative to the payment of group insurance premiums for retired sheriffs and employees hired on or after July 1, 2014, for Lafayette Parish (EN SEE FISC NOTE LF EX)

LA HB72

Provides relative to group insurance premiums of the Plaquemines Parish Sheriff's Office and distributions to the Plaquemines Parish Retired Employees' Insurance Fund (EN +$200,000 LF RV See Note)

LA HB345

Provides relative to the Pointe Coupee Parish Retired Employees Insurance Fund

LA HB62

Provides relative to group insurance premiums for retirees of the Rapides Parish Sheriff's Office (EN SEE FISC NOTE LF EX)

Similar Bills

No similar bills found.