LOU LEG Staff Termination, Bonuses

On Jun. 3, LOU LEG passed bill re remuneration after separation.

  • LOU LEG passed House bill HB 352, payment of bonus or incentive after termination.
  • Create LOU LEG 23-631(E) (discharge or resignation of an employee, payment terms).
  • Key Bill Provisions
  • Require commissions, incentive pay or bonuses that are earned be paid at termination.
  • Such amounts are only due at time of separation if the compensation has been earned.
  • Require an employer to provide a policy outlining the process to adjust remuneration.
  • For performance-based compensation, for example annual, quarterly, or other periodic basis, the employer has 120 calendar days from end-of-period to determine payment.
  • Legislative History
  • On Mar. 11, 2024, bill introduced in the House; on Apr. 17, 2024, bill passed in House.
  • On Apr. 17, 2024, bill was introduced in Senate; on May 23, 2024, bill passed Senate.
  • On May 30, 2024, bill was enrolled; on Jun. 3, 2024, bill sent to governor for approval.
  • Effectiveness
  • All Louisiana bills passed in the regular legislative session become law Aug. 1, 2024.
  • Jun. 2024 LOU LEG Governor Approval
  • On Jun. 10, 2024, LOU LEG reported governor signed bill as Act 556, effective Aug. 1.
  • Document dated Jun. 10, 2024, received from LOU LEG Jun. 20, summarized Jun. 24.

Regulators LOU LEG
Entity Types Corp
Reference Act 556, 6/10/2024; Bill, HB352, 6/3/2024; Citation: LOU LEG 23-631;
Functions HR
Countries United States of America
Products Corporate
Regions Am
Rule Type Final
Rule Date 6/10/2024
Effective Date 8/1/2024
Rule Id 214149
Linked to N/A
Reg. Last Update 6/10/2024
Report Section US Consumer

Last substantive update on 06/25/2024