Louisiana House Speaker Jim Tucker today (May 18th) asked that his proposal to suspend the Deferred Retirement Option Plan (DROP) be removed from the Wednesday’s agenda of the House Retirement Committee, saying that he does not plan to pursue the issue this legislative session.
The Speaker added that he does intend to further explore the idea following the session as a way to reduce the state workforce. HB 584 provided that no member of each of the four state retirement systems:
The Louisiana State Employees’ Retirement System (LASERS), the Teachers’ Retirement System of Louisiana (TRSL), the Louisiana School Employees’ Retirement System (LSERS), and the State Police Pension and Retirement System (STPOL), would be eligible to elect to participate in DROP from July 1,2009, through June 30, 2012.
House and Senate Retirement Bills Advance
The House Appropriations Committee has moved HB 649 by Crowley Representative Jack Montoucet on to the full house. The measure authorizes a $65 fee to be collected by the Department of Public Safety and Corrections and creates the Adult Probation and Parole Officer Retirement Fund into which the fees will be deposited.
They money from the fee would be used for enhanced benefits for adult probation and parole officers if the legislature provides for those benefit enhancements by June 30, 2015.
The Senate Retirement Committed today agreed to a bill that would restructure the payment schedule towards the debt of LASERS and TRSL. The LASERS Board of Trustees has taken a neutral position on SB 296. Prior to the session, it had been hoped that lawmakers would set aside a portion of the state’s surplus funds from last fiscal year to help pay down that debt.