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LA HB9
Bill
Status
2/19/2025
Primary Sponsor
Lawrence Bagley
Click for details
AI Summary
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Adds new retirement eligibility option allowing Louisiana State Employees' Retirement System (LASERS) members to retire at any age with 30 years or more of service without actuarial reduction
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Applies to members hired on or after July 1, 2006, including judges, court officers, governor, lieutenant governor, legislative clerks and sergeants-at-arms, and state treasurer
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Excludes members of the Hazardous Duty Services Plan, who have separate eligibility provisions
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Existing retirement options remain: retirement at age 60 (or 62 for those hired after July 1, 2015) with 5 years of service, or early retirement at any age with 20 years of service (with actuarial reduction)
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Any costs resulting from the expanded eligibility must be funded through additional employer contributions per Article X, Section 29(F) of the Louisiana Constitution
Legislative Description
Provides relative to retirement eligibility in the Louisiana State Employees' Retirement System (OR +$154,400,000 APV)
RETIREMENT/STATE EMPS
Last Action
Read by title, under the rules, referred to the Committee on Retirement.
4/14/2025