On Monday, April 15, the
Senate Retirement Committee held its first meeting of the 2013 legislative
session. LASERS Deputy Director Maris LeBlanc made a presentation about the
impact of the LSU hospital closures on members and the System. The PowerPoint
presentation can be viewed on the LASERS website here.
Two bills impacting LASERS
were on the agenda for consideration.
SB 4, which is supported by
the LASERS Board of Trustees, was reported favorably with significant
amendments. If passed, this bill would change the LASERS actuarial funding
method from projected unit credit to entry age normal. Senator Guillory, Chair
of the Senate Retirement Committee, committed to holding the bill on the Senate
floor until LASERS has had the opportunity to analyze the amendments and respond
to them.
SB 14 was favorably reported and
will advance to the Senate floor. This bill, if passed, would allow members to
upgrade accrual rates on transferred service. The LASERS Board is neutral on
this bill.
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