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LA HB515
Bill
Status
4/4/2025
Primary Sponsor
Jerome Zeringue
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AI Summary
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Creates an alternative state premium contribution calculation for state employees hired after January 1, 2002, who have at least 25 years of full-time state employment, effective January 1, 2026
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Establishes a graduated scale for employees meeting the 25-year requirement: 56% state contribution at 15 years of OGB participation, increasing to 58% at 16 years, 60% at 17 years, 65% at 18 years, and 70% at 19 years
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Retirees may use either the existing formula or the new alternative calculation, whichever produces a higher state contribution toward their premium
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Existing retirees covered prior to January 1, 2026, are not affected by the new provisions
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Effective July 1, 2025
Legislative Description
To provide for the cost share of certain insurance premiums for programs sponsored by the state's Office of Group Benefits (OR INCREASE SG EX See Note)
INSURANCE/GROUP-STATE
Last Action
Read by title, under the rules, referred to the Committee on Appropriations.
4/14/2025