The resolution urges the actuary for the legislative auditor, in collaboration with the actuaries from two retirement systems, to conduct an actuarial investigation regarding the potential merger of members from the New Orleans Firefighters' Pension and Relief Fund into the Firefighters' Retirement System. This investigation is prompted by the significant disparity in funding ratios between the two systems, with the Firefighters' Retirement System achieving over eighty-one percent funding status, while the New Orleans fund only has a fourteen percent funding ratio. The resolution highlights the need for a more sustainable pension plan for New Orleans firefighters and their beneficiaries, as the current system has varying eligibility requirements and accrual rates based on hire dates.

The actuary is tasked with reporting the findings on the cost and feasibility of this merger to the House Committee on Retirement by December 31, 2025. The resolution emphasizes the importance of providing a stable and actuarially sound retirement plan for firefighters in New Orleans, ensuring that all members receive equitable benefits throughout their lifetimes.