The Senate Retirement Committee met Monday, April 29 and considered two bills with a potential impact to LASERS.
SB 7 (Peacock) was reintroduced as a substitute bill impacting only the Firefighters' Retirement System of Louisiana. The committee voted to move the bill favorably for consideration on the Senate floor. The bill originally provided for a 60-month final average compensation (FAC) and 15 percent anti-spiking for all LASERS members. The LASERS Board opposed the original bill since it would, in many cases, violate the constitutional protections provided to our members. LASERS will continue to monitor this substitute bill closely.