Regular Session News #10: ORP bill scheduled for final passage Tuesday; Task force to study phased retirement for postsecondary institutions gets final approval
2 min read
The full Senate is scheduled to consider House Bill 24 (Rep. Bacala) on Tuesday, May 27 (agenda). HB 24 would make changes to the terms of the optional retirement plan (ORP), a defined contribution plan available to unclassified faculty and staff in higher education. Read a full description of HB 24 in our May 20 Legislative Update.
Other news:
On Thursday, the full House amended and passed House Resolution 143 (Rep. Bacala). HR 143 would establish a task force to study a phased retirement program for Louisiana’s public postsecondary education institutions. Amendments expanded the scope of the task force to study additional ORP-related issues. HR 143 will be enrolled with the Louisiana Secretary of State.
Additionally, the full House amended and passed House Bill 307 (Rep. Henry). HB 307 would require state agencies or political subdivisions to verify citizenship or immigration status when an applicant applies for federal, state, or local public benefits, including retirement benefits. As amended, the legislation allows the verification of a public employee’s citizenship or immigration status at the time of their enrollment in a Louisiana public retirement system to satisfy the verification requirements included in the bill. HB 307 now goes to the Senate for consideration.
TRSL will keep you informed about the status of retirement-related bills being monitored throughout the legislative session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the “Legislation” page of this website, to see any legislation impacting the retirement system.
Stay tuned for future updates.
Share this article: