Regular Session News #1: 2018 Regular Legislative Session kicks off soon
Mar 9, 2018
The 2018 regular session starts at noon on Monday, March 12. A complete list of legislation affecting TRSL, along with the positions taken by the TRSL Board of Trustees for each bill, is available on the legislation page of our website, www.TRSL.org.Coming up next week:
The Senate retirement committee is scheduled to meet Monday, March 12 upon adjournment of the full Senate. The following bills affecting TRSL are on the agenda:
- SB 4 (Sen. Peacock) provides for the independent appointment of actuaries by state and statewide retirement systems but restricts the duties of those actuaries to actuarial matters.
- SB 6 (Sen. Peacock) provides that an employee who moves to a position covered by the Clerks' of Court Retirement and Relief Fund cannot retain TRSL membership even if the employee has five years of service credit in TRSL.
- SB 13 (Sen. Peacock) removes the Public Retirement Systems' Actuarial Committee (PRSAC) from the state Department of Treasury and restricts chair and vice chair duties on PRSAC to the Senate President and House Speaker or their designees.
- SB 17 (Sen. Peacock) provides for harmonization of federal and state law regarding creditable service for military time at Louisiana retirement systems.
- HB 34 (Rep. Pearson) allows state and statewide retirement systems to allocate a portion of their investments to a terror-free fund rather than a terror-free index fund as currently required by law
The legislative process
Retirement bills are typically heard first in either the House or Senate retirement committees. The chair of the Sen. Retirement Committee is Sen. Barrow Peacock, and the chair of the House Retirement Committee is Rep. J. Kevin Pearson.
You can find out more about these committees, including their members, by visiting their websites, Senate Retirement Committee and House Retirement Committee.
If you need a refresher on the legislative process, check out this "Legislation & Your Pension" info-graphic, which is part of our Roadmap to Retirement series.
TRSL will keep you informed about the status of bills affecting TRSL throughout the legislative session. Stay tuned for future TRSL Legislative Updates.