HB 950

ENROLLED
 2026 Regular Session
 HOUSE BILL NO. 950
 BY REPRESENTATIVES BOYD, ADAMS, BAYHAM, BOUDREAUX, BRASS,
  CARPENTER, CARVER, CHASSION, FISHER, FREEMAN, DANA HENRY,
  JACKSON, LAFLEUR, LARVADAIN, LYONS, MENA, MOORE, MURRAY,
  NEWELL, TAYLOR, WALTERS, AND YOUNG
1AN ACT
2 To enact R.S. 46:939, relative to consumer protection for the elderly; to provide for
3legislative intent and purpose; to provide for the creation of an educational program
4and materials; to provide for distribution of such materials; and to provide for related
5matters.
6 Be it enacted by the Legislature of Louisiana:
7Section 1. R.S. 46:939 is hereby enacted to read as follows:
8§939. Pension protection and retirement income support and guidance program;
9creation; distribution
10A.(1) The legislature finds that seniors of this state constitute a valued and
11growing segment of this state's population who have contributed substantially to its
12economic and social fabric yet frequently rely upon pensions, retirement savings,
13Social Security, and fixed incomes that are vulnerable to aggressive marketing of
14complex financial products, economic hardships arising from increased longevity,
15healthcare costs, inflation, financial exploitation, and other unforeseen
16circumstances.
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 HB NO. 950  ENROLLED
1(2) It is therefore the purpose of this Act to safeguard the financial security,
2dignity, and independence of these citizens by developing comprehensive, accessible
3educational materials and resources for seniors and their caregivers on the effective
4management of pensions and retirement income, clear explanations of financial
5products commonly marketed to seniors, recognition and prevention of financial
6exploitation, strategies for mitigating risks of financial hardship, and clear
7explanations of financial products commonly marketed to seniors.
8B. The office of elderly affairs may create the Pension Protection and
9Retirement Income Support and Guidance program.
10C. The program shall be for the benefit of persons of sixty years of age or
11older in this state. The office of elderly affairs may develop program materials and
12resources that provide practical guidance and empower senior citizens to make
13informed decisions on relevant issues, including but not limited to all of the
14following:
15(1) Pension and retirement account protection.
16(2) Income optimization and financial management.
17(3) Information about financial products typically marketed to seniors.
18(4) Strategies to reduce risks related to unexpected hardships or costs.
19(5) Warning signs of scams, fraud, or exploitation targeting seniors, and
20prevention tactics.
21(6) Contact information for state agencies, legal aid organizations, dedicated
22hotlines, or charities that can offer more detailed assistance if needed.
23D. The office of elderly affairs may distribute these materials in an easy-to-
24read format with simple navigation menus to seniors through existing websites or
25other available platforms. The office of elderly affairs may distribute these materials
26by any other means reasonably calculated to reach the seniors of this state.
27E.(1) The office of elderly affairs shall implement the provisions of this
28Section to the extent practicable within existing resources, and may utilize or link to
29existing federal, nonprofit, or private educational resources to fulfill the purposes of
30this Section.
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HB NO. 950  ENROLLED
1(2) The provisions of this Section shall be implemented subject to the
2availability of existing resources and shall not require additional appropriations.
  SPEAKER OF THE HOUSE OF REPRESENTATIVES
  PRESIDENT OF THE SENATE
  GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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