Thursday, May 1, 2008

2008 Legislative Update

The House Committee on Retirement approved two LASERS sponsored bills; HB 230 {Rep. Robideaux}, a Pop-Up provision which allows the automatic change to the maximum benefit of a retiree based upon the death of his named beneficiary on the 1st day of month following death. Current law allows pop-up based on the date of notification of death.

The other approved bill was HB 233 {Rep. Doerge} which changes the accrual rate for Act 75 disability retirees from 1.8 percent to 2.5 percent.

HB 89 {Rep Doerge} was voluntarily deferred. It would make the Self Directed Plan (SDP) for DROP participants in LASERS and TRSL optional.

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