Bill > HB18

This bill addresses funding and benefits for the Firefighters' Retirement System by making several key changes. First, it removes a previous prohibition on using the system's funding deposit account to provide cost-of-living increases to retirees. Second, the bill introduces a nonrecurring lump-sum supplemental payment of $2,000 for retirees and beneficiaries who have received benefits for at least one year as of June 30, 2025, with payments to be made no later than August 1, 2025. The legislation specifies that the cost of these changes will be funded primarily through the system's funding deposit account, with any additional expenses covered by increased employer contributions. The bill aims to provide financial support to retired firefighters and their beneficiaries by offering a one-time supplemental payment and allowing more flexibility in using the system's funding deposit account for cost-of-living adjustments.

Budget and Finance, Labor and Employment

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB18&sbi=y