Regular Session News #6: House retirement committee to consider several bills affecting TRSL this Friday
Apr 11, 2018
The House retirement committee will consider a number of bills affecting TRSL at its meeting scheduled for 9 a.m., Friday, April 13. The bills to be heard are as follows:- HB 11 (Rep. Ivey) would impose a fiduciary duty to state and statewide retirement systems on members of the Public Retirement Systems' Actuarial Committee (PRSAC).
- HB 13 (Rep. Miller) and HB 696 (Pearson) would add presenter of professional development to the list of “re-employment eligible positions” allowing retirees to return to work and continue to receive a benefit check (after the required waiting period), subject to a 25% of annual benefit earnings limit.
- HB 14 (Rep. Smith) would add interpreter, educational transliterator, or educator of the hearing impaired 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 21 (Rep. Ivey), in its current amended posture, would increase the number of members on PRSAC from seven to nine by adding one member from the House of Representatives appointed by the House Speaker and one member from the Senate appointed by the Senate President. It would also establish a quorum of seven voting members.
- HB 23 (Rep. Ivey) would prohibit state and statewide retirement systems from investing more than 25% of their total investment portfolio in alternative investments.
- HB 24 (Rep. Ivey) would require that actuaries for state and statewide retirement systems and for the legislative auditor use uniform reporting standards to present discount rate and assumed rate of return information to PRSAC.
- HB 25 (Rep. Pearson) would require all charter school employees defined as "teachers" to become TRSL members, effective July 1, 2018; stipulates that if a teacher entered into an employment contract with a charter school prior to July 1, 2018, and the contract does not provide for membership in TRSL, the teacher would not become a TRSL member until the expiration or termination of the contract.
- SB 17 (Sen. Peacock) would create consistency among state and statewide retirement systems in the application of state and federal law related to military service credit purchases.
Tune in & watch live: You can watch live retirement committee meetings online at www.legis.la.gov. Click on the TV icon for any meeting in progress that you’d like to view. Archived broadcasts are available here.