Tuesday, June 14, 2011

House Approves Resolution to Study Consolidation of Certain Functions of State Retirement Systems –by- Robyn Ekings

Today, HCR 135 by Lafayette Representative Joel Robideaux was sent on to the Senate in an 88-0 vote. The measure, which does not have the force of law, directs the Louisiana State Employees' Retirement System (LASERS), the Teachers' Retirement System of Louisiana (TRSL), the Louisiana School Employees’ Retirement System (LSERS), and the Louisiana State Police Retirement System to report specified information to the House and Senate Committees on Retirement.

The systems are directed to report to lawmakers on both panels, prior to the convening of the 2012 Regular Session of the Legislature, the administrative and investment costs incurred by each system, and to jointly submit a report on the feasibility of combining the administrative and investment management services of the systems.

The idea of merging select functions of the systems has been debated by legislators in recent years. All four systems have opposed the move, saying the numbers show the change would cost more than it would save.

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