Regular Session News #4: TRSL Board sponsored bill advances
Sep 1, 2016The Senate retirement committee reported TRSL Board-sponsored bill, Senate Bill 5 (Sen. Barrow Peacock), favorably as amended. SB 5 would include non-investment related administrative expenses in the calculation of the required employer contribution rate. The committee amendment provides for a beginning implementation date in the first fiscal year in which this change will not increase the employer contribution rate.
Also, the committee amended Senate Bill 18 and deferred consideration of the bill until April 4, 2016. SB 18, sponsored by Sen. Peacock, would clarify provisions created in Act 399 of 2014 regarding excess investment earnings, employer contributions, and cost-of-living adjustments (COLAS). The bill and amendments will be further discussed at the meeting on April 4.
The House retirement committee will meet on Thursday, March 31 at 9:00 a.m. TRSL and LASERS will give a joint presentation on the state of the systems. Click here to view the agenda.
A list of legislation impacting TRSL, including the positions taken by the TRSL Board of Trustees on each bill, is available on the Legislation page of our website.