CORONAVIRUS NEWS: The TRSL building closed to the public. This will not impact the payment of monthly TRSL benefits or DROP withdrawals. If you have questions about federal economic stimulus payments, please visit the IRS website

Session News #5: Retirement bills to be heard next week

Apr 26, 2019

The Senate Retirement Committee is scheduled to meet at 1 p.m., Monday, April 29 (agenda) where it will reconsider Senate Bill 14 (Sen. Peacock). In its current posture, the bill 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 or 15 consecutive years, depending on the board term.

Also next week, the House Retirement Committee is scheduled to meet at 9:30 a.m., Thursday, May 2. The following bills affecting TRSL are on the agenda:
  • 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.

Tune in & watch live: You can watch live retirement committee meetings online at Click on the TV icon for any meeting in progress that you'd like to view. Archived broadcasts are available here
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