SB 296 - Retirement Debt Payment - Louisiana Key Vote
Timeline
- Executive Signed
- July 10, 2009
- Senate Concurrence Vote Passed
- June 23, 2009
- House Bill Passed
- June 18, 2009
- Senate Bill Passed
- May 28, 2009
- Introduced
- April 17, 2009
Related Issues
Stage Details
Title: Retirement Debt Payment
Signed by Governor Bobby Jindal
Title: Retirement Debt Payment
Vote Smart's Synopsis:
Vote to pass a bill that diverts money from a state settlement fund to increase annual payments on the outstanding balances for the Louisiana State Employees' Retirement System and the Teacher's Retirement System of Louisiana.
Highlights:
-Consolidates payment schedules and readjusts the net outstanding balances for the Louisiana State Employees' Retirement System and the Teachers' Retirement System of Louisiana by adding any missed payments to the principle balance (Sec. 1). -Provides for an application of certain future gains and contributions to such schedules and other components of annual required employer contributions (Sec. 1). -Consolidates the outstanding 1988 UAL balance of each system with other amortization schedules and credits (Sec. 1). -Amends the conditions under which a permanent benefit increase, previously known as a cost-of-living increase, is granted (Sec. 1).
Title: Retirement Debt Payment