Regular Session News #15: Pension bills move forward; second special session ahead
May 15, 2018The full Senate yesterday passed HB 14 (Rep. Smith), which would add full-time interpreter, educational transliterator, or educator of the deaf or hard of hearing and full- or part-time PreK teachers to the list of “re-employment eligible critical shortage positions” allowing retirees to return to work without a reduction of benefits (after the required waiting period and certification of shortage). HB 14 is now pending House concurrence.
Also, the Senate agreed with the House's amendments for SB 6, moving it one step closer to being sent to the governor for final approval. SB 6 (Sen. Peacock) would prohibit a TRSL member with at least five years of TRSL service credit from retaining membership in TRSL if they move to a position covered by the Clerks' of Court Retirement and Relief Fund.
Investment legislation signed into law
HB 34 (Rep. Pearson) was signed into law as Act 45. It 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 previously required by law.
Second special session called
The governor issued a call for a second special session on Monday. The session will convene at 4 p.m., Tuesday, May 22, and adjourn no later than Monday, June 4. During the special session, lawmakers will address the state's $648 million budget shortfall. Click here to view the Governor's call for the 2018 Second Extraordinary Session.
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.