Bill > HB14

This bill modifies the Teachers' Retirement System of Louisiana by adding a new option, Option 5, that allows a retiring member to designate a child or children with a permanent mental or physical disability to receive a benefit after their death, provided the benefit is actuarially certified as equivalent to the member's retirement allowance and approved by the board of trustees. It also clarifies that the medical determination of such a disability must occur just before the member's retirement or entry into the Deferred Retirement Option Plan (DROP), a program allowing members to accrue retirement benefits while continuing to work, and states that the board of trustees may deduct the cost of this medical determination from the member's retirement benefits if at least half of the reduced benefit is not allocated to the disabled child or children.

Labor and Employment

https://www.legis.la.gov/legis/BillInfo.aspx?s=26rs&b=HB14&sbi=y