Wednesday, April 24, 2013

House Retirement Committee Scheduled to Meet Thursday; Four Bills Impacting LASERS on the Agenda

The House Retirement Committee is scheduled to meet Thursday, April 25 upon adjournment. Four bills impacting LASERS are on the agenda.

HB 35 (Barrow) provides for a 25 years at any age retirement eligibility for certain state hospital employees who are employed at a hospital operated as part of the LSU Health Sciences Center, if their jobs are affected by a layoff plan approved by the State Civil Service Commission or the director of the State Civil Service. The LASERS Board opposes this bill.

HB 60 (Talbot) provides that members who retire on or after July 1, 2013, and return to state service in a position making them eligible for any state or statewide retirement system shall have benefits suspended and shall not earn service credit or supplemental benefits. The LASERS Board is neutral on this bill.

HB 61 (Badon) provides for a "divided benefit" for members whose actual earnings in a calendar month are 30 percent or more above his average monthly earnings for the immediately preceding 12 months. The LASERS Board opposes this bill.

HCR 2 (Harrison) suspends the provisions of the Cash Balance Plan. The LASERS Board voted to support this bill if the tax qualification condition is removed.

Please note that meeting schedules and agendas are subject to change. Check the LASERS website daily for updates and for detailed information about the proposed legislation which would impact LASERS.

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