Louisiana House Bill HB27

Louisiana 2015 Regular Session

• Introduced: 2/20/15
• Refer: 2/20/15
• Refer: 4/13/15
• Report Pass: 4/22/15
• Engrossed: 4/29/15
• Refer: 4/30/15
• Report Pass: 5/19/15
• Enrolled: 5/27/15
• Chaptered: 6/5/15
• Passed: 6/5/15

Caption

Provides relative to receipt of deferred retirement benefits from the Clerks of Court Retirement and Relief Fund for members first hired on or after January 1, 2011 (EN DECREASE APV)

Impact

The impact of HB27 is significant as it alters the retirement landscape for new clerks of court. By raising the retirement age from 55 to 60 for newer members, the bill essentially extends the working years required before members can access their benefits. This change reflects broader trends in pension reform, aimed at addressing the financial sustainability of retirement funds.

Summary

House Bill 27 amends the regulations governing deferred retirement benefits from the Clerks of Court Retirement and Relief Fund. Specifically, it adjusts the eligibility criteria for members hired on or after January 1, 2011. Under the new provisions, these individuals must reach the age of 60 to qualify for regular retirement benefits if they have at least twelve years of credited service, a change from the previous threshold of age 55 for those hired before that date.

Sentiment

The sentiment surrounding HB27 appears to be largely positive among supporters, who argue that prolonging the working period for retirement eligibility will help stabilize retirement fund resources and ensure better financial health for the pension system. Opponents may express concerns regarding the implications for work-life balance for public employees, particularly the potential impacts on older workers who may wish to retire earlier.

Contention

Notable points of contention in the discussions around HB27 may involve debates about balancing financial sustainability with the rights and needs of employees. Critics may argue that the increased retirement age can disproportionately affect older employees and those with lengthy careers in clerical positions. Supporters, however, often stress the importance of protecting the financial integrity of the pension fund, indicating a fundamental conflict between fiscal responsibility and employee welfare.