Monday, June 20, 2011

House Bill 530 Involuntarily Deferred by Senate Retirement Committee

On Sunday, June 19, the Senate Retirement Committee involuntarily deferred HB 530, which would have changed the calculation of final average compensation for all LASERS members.

This action coupled with the fact that HB 479 which would have increased employee contributions by 3% has not moved out of the House, should mean that LASERS members should not see a change to their retirement benefits.

However, the legislative session is not over until this Thursday, June 23, at 6 p.m., so it is still possible that changes could be made to other pieces of legislation that are still pending to accomplish similar changes.

Please continue to watch the LASERS website for legislative updates.

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