Page -2-The project cost limitations stated inthe bill can be increased by a 15%contingency allowance plus other costs of issuance and interest.Finally, a nonprofit corporation would be established to manage construction projects.
CLASS III FIREARM TRANSFER PERMITS
, which has completedthe legislative process, would repeal provisions in state law that require theDepartment of Public Safety to issue possession and transfer permits for Class IIIfirearms, including machine guns, grenadelaunchers, flame throwers and bazookas.HB277 also would prohibit the possession and purchase of firearms that havenot been registered or transferred under provisions of federal law.
, which exempts lawenforcement officers from the crime of carrying a firearm or dangerous weapon onschool property, has completed the legislative process.
NOLA FIREFIGHTERS PENSION FUND
This week, the Senate approved four House bills affecting the Firefighters’ Pensionand Relief Fund of New Orleans (NOFF).The following measures would change howretirement benefits are calculated and providefor NOFF board and legislative oversight:
establishes boardmembership, terms of office and votinglimitations.
provides for the finalaverage compensation for members of the New Orleans Firefighters' Pension and Relief Fund.
provides for a phased-in increase of the employee contribution ratefor NOFF from 6% to 10% beginning January1, 2014, and removes the exemption fromemployee contributions for members with 20or more years of service.
changes the number of years used to calculate final averagecompensation for NOFF members who retireon or after July1 from four years to five years.
LOUISIANA ASSESSOR'SRETIREMENT FUND
, which has completedthe legislative process, creates a new tier of benefits in the Louisiana Assessor'sRetirement Fund (ASSR) for members whoare first employed October 1, 2013.Under the provisions of HB39, anASSR member may retire at age 60 with 12years of service; and at age 55 with 30 yearsof service. Members employed October 1,2013, would receive a monthly retirement benefit based on the following formulas:1.) With less than 30 years of service: 3% xFinal Compensation x Years of Service; and2.) With at least 30 years of service: 3 1/3% xFinal Compensation x Years of ServiceFinally, transferred service with anaccrual rate less than 3 1/3% shall not be usedto meet the requirement of 30 or more years of service unless the member has upgraded suchtransferred service.
HAZARDOUS DUTY SERVICES PLAN
*Under the provisions of
pending Senate Retirement, a retiree from theHazardous Duty Service Plan with transferredservice who retired on or before June 30,2013, will receive premium supplements beginning July 1, 2013. Premiums shall be increased by an amount sufficient to payfor any increase in the employer's premiums