House Bill No. by Representative Hilferty amends the retirement provisions for the New Orleans Firefighters' Pension and Relief Fund, specifically addressing eligibility, accrual rates, and withdrawal conditions for firefighters based on their hire dates. The bill establishes that firefighters hired between December 31, 1967, and December 31, 2014, can retire at age 50 with 12 years of service, while those hired between January 1, 2015, and August 15, 2016, must be 52 years old, and those hired after August 15, 2016, must reach the federal full retirement age minus ten years. The accrual rates for retirement benefits vary based on the hire date, with specific percentages outlined for different service lengths.

Additionally, the bill includes technical corrections to existing law, such as changing the phrasing from "enters the employ of" to "begins employment with" and clarifying the conditions under which members can withdraw from service while retaining their membership in the retirement system. It also specifies that members who withdraw before reaching the required retirement age but have completed 12 years of service will still be eligible for retirement benefits upon reaching the appropriate age. Overall, the bill aims to streamline and clarify the retirement process for firefighters in New Orleans.

Statutes affected:
HB31 Original: