Regular Session News #10: Service credit purchase, return-to-work, and new COLA bills pass House retirement

Jul 1, 2016

The following bills made it through the House retirement committee today and move to the House floor for consideration:
  • House Bill 13 (Pearson): Allows TRSL members to purchase credit for teaching service at an out-of-state nonpublic school. Technical amendments to the bill were adopted.
  • House Bill 14 (Pearson): As amended, replaces the chair of the House retirement committee with any member of that committee appointed by the House speaker to serve on each state and statewide retirement board.
  • House Bill 32 (Jones): As amended, authorizes payment of a 1.5% benefit increase (also known as a COLA) payable July 1, 2016, to eligible TRSL retirees and beneficiaries.
  • House Bill 60 (Miguez): Adds “school nurse” to the list of retirees who can return to work and continue to receive a benefit check, subject to a 25% of benefit earnings limitation.
  • House Bill 61 (Hoffmann): Adds “school psychologist” to the list of critical shortage positions in which a retiree can return to work without a reduction of benefits.
Rep. Sam Jones voluntarily deferred House Bill 33, which would remove the need for legislators to approve permanent benefit increases (also known as COLAs), and would authorize the retirement system boards to pay the increase when requirements in law are met.

In the Senate education committee, Senate Bill 147 (Gatti) did not pass. SB 147 would have required funds included for payment of the unfunded accrued liability to be withheld from the state portion of the minimum foundation program (MFP) for charter schools and transmitted directly to TRSL.

A complete list of legislation impacting TRSL, including the position taken by the TRSL Board of Trustees on each bill, is available on the Legislation page of our website.
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