Session News #1: Legislative session starts Monday, several bills would affect TRSL
Apr 5, 2019The 2019 Regular Legislative Session starts Monday, and the following three bills affecting TRSL and its members have been filed.
- House Bill 19 (Rep. Pearson) would remove certain initial unfunded accrued liability (IUAL) payments attributable to K-12 employers from the minimum foundation program (MFP) funding, and instead provide for direct payments of such funds to TRSL.
- House Bill 28 (Rep. Ivey) would establish a hybrid retirement benefit structure for certain members of the state retirement systems first hired on or after July 1, 2020.
- Senate Bill 14 (Sen. Peacock) would limit the ability of elected board members of state/statewide retirement systems from running for a term that would allow that board member to serve more than 12 consecutive years.
TRSL will keep you informed about the status of bills being monitored throughout the session. Stay tuned for future updates.
The Senate Retirement Committee is scheduled to meet at 9 a.m., Tues., April 9. SB 14 is currently on the agenda for discussion.