House Bill No. by Representative Boyd aims to enhance consumer protection for the elderly by establishing a pension protection and retirement income financial guidance program. The bill recognizes that seniors often rely on fixed incomes and are vulnerable to financial exploitation and aggressive marketing of complex financial products. To address these issues, the legislation mandates the creation of educational materials and resources that will empower seniors and their caregivers to make informed decisions regarding pensions, retirement income, and financial management.

The Office of Elderly Affairs is tasked with developing and distributing these materials, which will cover topics such as pension protection, income optimization, warning signs of financial scams, and contact information for relevant assistance agencies. The materials will be made available in an easy-to-read format on a dedicated, mobile-friendly website, as well as through other means to ensure they effectively reach the senior population in Louisiana.