Thursday, April 11, 2013

Senate Retirement Committee Meeting Scheduled

The Senate Retirement Committee will meet Monday, April 15, at 2:00 p.m. Two bills impacting LASERS are on the agenda:

SB 4 changes the LASERS actuarial funding method from projected unit credit to entry age normal, and is supported by the LASERS Board of Trustees; 

SB 14 allows a member to upgrade their accrual rate on transferred service to the accrual rate of the receiving system by paying the actuarial cost of the upgrade; also allows for reverse transfers in certain instances. The LASERS Board is neutral on this bill. 

In addition to the bills being considered, LASERS Deputy Director Maris LeBlanc will make a presentation about the proposed privatization of the public hospitals and the retirement impact on the employees and the System.

Please note that meeting schedules 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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