Monday, May 24, 2010

Debate on Retirement Systems Benefit Change for New Employees Postponed – by- Robyn Ekings

The author of a bill that would change the structure and employee contribution rates for members of the four state retirement systems (HB 1337), set for debate today in the house, has been rescheduled for a vote in the lower chamber on
Thursday, June 3. The measure applies only to employees hired on or after January 1, 2011. Lafayette Representative Joel Robideaux asked that his proposal be set for a hearing next week. The systems covered by the plan include 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.

The house today approved a bill by Thibodaux Representative Dee Richard (HB 189) that allows for early retirement for members of LASERS with 10 years at age 50 with an actuarial reduction of benefits. The proposal also calls for the abolition of positions vacated by the early retirement, and the filling of certain positions affected under limited circumstances. Governor Bobby Jindal last year vetoed an identical bill that received final approval by lawmakers.

The Senate Retirement Committee said “yes” to HB 229 by House Retirement Committee Chairman Kevin Pearson that would put a Constitutional Amendment on the ballot for voters that calls for a 2/3 vote of both chambers of the legislature to enact any changes to retirement systems that have an actuarial cost.

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