Regular Session News #7: Busy week for retirement legislation
May 21, 2020
On Monday, the full House approved the following two resolutions affecting TRSL:
- House Concurrent Resolution 9 (Rep. M. Johnson) requests that Congress consider eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) Social Security benefit reductions. HCR 9 now awaits consideration by the Senate Retirement Committee.
- House Resolution 21 (Rep. Harris) requests the state retirement systems report to the legislature on alternative methods for providing permanent benefit increases to retirees. HR 21 has been signed by the House Speaker and will be sent to the Secretary of State.
On Thursday, the House Appropriations Committee met and considered the following bills affecting TRSL:
- Senate Bill 189 (Sen. White), which received final passage in the full Senate earlier this week, would provide for the transfer of a share of the FY 2018-19 surplus funds in the state treasury for a supplemental appropriation to the TRSL initial unfunded accrued liability (IUAL). SB 189 was reported favorably with amendments.
- House Bill 307 (Rep. Zeringue) was also reported favorably with amendments. HB 307 would appropriate a share of the FY 2018-19 surplus directly to the TRSL initial unfunded accrued liability (IUAL) from the State General Fund non-recurring revenue.
Coming up
The Senate Retirement Committee is scheduled to meet Friday, May 22 upon adjournment of the full Senate to consider the following bill affecting TRSL return-to-work provisions:
- House Bill 8 (Rep. Bourriaque) would waive the 25% cap on earnings (per fiscal year) for re-employed retirees hired as PreK-12 substitute classroom teachers.
You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the “Legislation” page of this website, to see all legislation impacting the retirement system. Stay tuned for future updates.