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Regular Session News #24: Return-to-work bills move forward

Jun 2, 2016

The Senate has passed the following bills affecting the law that governs TRSL retirees who return to work in positions eligible for TRSL membership:
  • House Bill 907 (LeBas), increases the earnings allowed for TRSL retirees who are re-employed as substitute classroom teachers and filling a vacancy created by extended leave, from 25% of benefit to 50% of benefit.
  • House Bill 61 (Hoffmann), adds “school psychologist” to the list of full-time critical shortage positions in which a retiree can return to work without a restriction of benefits.
NOTE: Both HB 907 and HB 61 were amended earlier by the Senate retirement committee to increase the waiting period between retirement and returning to work from 12 months to 36 months for non-critical shortage positions. The re-employment of retirees who have met the 12-month waiting period and returned to work prior to May 15, 2016, would continue to be governed by current law.
HB 61 and HB 907 now return to the House for concurrence. 


In other action  
The Senate also passed an amended House Bill 32 (Jones), which grants a 1.5% benefit increase to eligible TRSL retirees and beneficiaries, effective July 1, 2016. It is scheduled for concurrence by the House tomorrow. If HB 32 is concurred in by the House and signed by Gov. John Bel Edwards, it would affirm the COLA authorized by Act 93, not provide for an additional 1.5% COLA. 
Additionally, the Senate finance committee passed an amended House Bill 603 and House Bill 696, both by Rep. Leger, which propose supplemental payments to the unfunded accrued liability (UAL). HB 603 proposes that a constitutional amendment be placed before voters on the November ballot to establish the Revenue Stabilization Trust Fund and to provide for the allocation of mineral revenues. A portion of the mineral revenues allocated in the proposed constitutional amendment would be dedicated to the UAL after certain thresholds are reached. HB 696 (Leger) is companion legislation to HB 603. The amendment to both bills was technical in nature. 


Coming up next week
The Public Retirement Systems' Actuarial Committee (PRSAC) will meet at 9:30 a.m., Tuesday, June 7.  An agenda for the meeting is not yet available.

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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