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.