House Bill No. [insert number] amends and reenacts R.S. 11:107.1(D)(4)(a) and enacts R.S. 11:2256.4, while repealing R.S. 11:107.1(D)(4)(c). The bill modifies the Firefighters' Retirement System by allowing the board of trustees to use funds from the funding deposit account for cost-of-living increases, removing the previous prohibition on such payments. Additionally, it establishes a nonrecurring lump-sum supplemental payment of $2,000 for eligible retirees and beneficiaries who have received benefits for at least one year as of June 30, 2025. This payment is to be disbursed no later than August 1, 2025.

The funding for this supplemental payment will come from the system's funding deposit account, with any additional costs covered by increased employer contributions. The bill is set to take effect upon the governor's signature or, if not signed, after the designated period for bills to become law without signature. If vetoed and later approved by the legislature, the bill will take effect the day after such approval.

Statutes affected:
HB18 Original: 11:1(D)(4)
HB18 Engrossed: 11:1(D)(4)
HB18 Reengrossed: 11:1(D)(4)
HB18 Enrolled: 11:1(D)(4)