HB 32 — RETIREMENT/STATE EMPS: Provides relative to the Louisiana State Employees' Retirement System (EN NO IMPACT APV)

HLSENROLLED 26RS-549 ENGROSSED Regular Session HOUSE BILL NO.

32 BY REPRESENTATIVE EGAN RETIREMENT/STATEAN EMPS:ACT ToamendandreenactR.S.11:224, 403(15),405,407,444(A)(1)(a)(i)and(2)(b)(i)(bb)and (C)(introductoryparagraph), and 446(F), relativeto theLouisianaStateEmployees’ Retirement System;

Providesto provide relative to therestoration Louisianato Stateactive Employees'serviceof Retirementa Systemdisability ANretiree;toprovidefordefinitions;toproviderelativetoexemptionofcertainbenefits ACTfrom ToamendandreenactR.S.execution;

11:224, 403(15),405,407,444(A)(1)(a)(i)and(2)(b)(i)(bb)and (C)(introductoryparagraph),and 446(F), relative to theLouisianaStateEmployees’ Retirement System;

to provide relative to restoration to active service of a disability retiree;toprovidefordefinitions;toproviderelativetoexemptionofcertainbenefits from execution;

Restoration to active service IfanydisabilityretireeofastateorstatewideretirementsystemIfanydisabilityretireeofastateorstatewideretirementsystemwhois whois under the age of sixty years for regular retirement is restored to active service, his retirementretirementallowance allowance shall cease, he shall again become a member of the retirement system, and he shall contribute thereafter at the current rate in effect at the time he Pageis 1restoredto service,and if he contributes for at least three years, the period of 6time CODING:on disability shall be counted as accredited service for purposes of establishing retirement eligibility, but not for computation of benefits.

Any prior service certificate on which his service was computed at the time of his retirement shall be restored to full force and effect and, in addition, uponhis subsequent retirement he Page 1 of 4 CODING:

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32 isENROLLED restored to service,and if he contributes for at least three years, the period of time on disability shall be countedcredited aswith accreditedall his service foras purposesa ofmember. establishing retirement eligibility, but not for computation of benefits.

Any prior service certificate on which his service was computed at the timeof his retirement shall be restored to full force and effect and, in addition, uponhis subsequent retirement he shall be credited with all his service as a member.

exception Any annuity, retirement allowance or benefit, or refund ofofcontributions, contributions, or any optional benefit or any other benefit paid or paid to any person under the provisions of this Chapter is exempt from any state or municipal tax and is exempt from levy and sale, garnishment, attachment, or any other process whatsoever, except as provided in R.S.

Correction of administrative error Except as expressly provided otherwise in this Chapter, the director may, upon written documentation that an administrative error has occurred in the administration of this system, which documentation shall be submitted to the board of trustees at the next board meeting, whether such administrative error was Pagecommitted 2by ofthis 6system CODING:or otherwise, correct such administrative error and may make all adjustments relative to such correction.

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32 committed by this system or otherwise, correct such administrative error and may make all adjustments relative to such correction.

Computation of retirement benefit A.(1)(a)(i) A member who retires effective on or after July 1, 1973, shall receive a maximum retirement allowance equal to two and one-half percent of averagecompensation,asdeterminedunderR.S.11:231pursuanttoR.S.11:403,forPage every2 year of creditable4 service,CODING: plus three hundred dollars.

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HB NO.

32 ENROLLED averagecompensation,asdeterminedunderR.S.11:231pursuanttoR.S.11:403,for every year of creditable service, plus three hundred dollars.

The balancebalancein in his plan account and any subsequent contributions to such account shall be increased to reflect such benefit increase.

The retirement benefit of any member of this system who is not a qualifiedparticipant,asdefinedinParagraph(B)(2)ofthisqualifiedparticipant,asdefinedin Paragraph(B)(2)ofthis Section,whenexpressed Pageasanannualbenefitmaynotexceedthelesserofeithertheannualbenefitauthorized 3by Section 415(d) of 6the CODING:United States Internal Revenue Code or one hundred percent of such member's average compensation for his highest three years or five years as provided in R.S.

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32 asanannualbenefitmaynotexceedthelesserofeithertheannualbenefitauthorized by Section 415(d) of the United States Internal Revenue Code or one hundred percent of such member's average compensation for his highest three years or five years as provided in R.S.

* * * §446.Page 3 of 4 CODING:

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32 ENROLLED §446.

PageSPEAKER 4OF ofTHE 6HOUSE CODING:OF REPRESENTATIVES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

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32 DIGEST ThedigestprintedbelowwaspreparedbyHouseLegislative Services.

It constitutesnopart of the legislative instrument.

The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 32 Engrossed 2026 Regular Session Egan Abstract:

Provides relative to administration of the La.

State Employees' Retirement System.

Presentlawprovidesthatanydisabilityretireeofastateorstatewideretirementsystem who is undertheageof60 andwhois restoredto activeservicebecomesamember of thesystem again.

Proposed law changes the age 60 requirement to the regular retirement age as provided in present law.