Wednesday, March 12, 2014

2014 Legislative Session Underway

The legislative session began March 10 and more than two dozen retirement bills could impact LASERS if passed. Updates on legislation and committee meeting notices will be sent through Member Connection to keep LASERS members in the loop.

Upcoming Meetings

The House Retirement Committee is scheduled to meet Thursday, March 13, upon adjournment. LASERS, along with other state and statewide retirement systems, will make a presentation to the committee regarding the system's valuation and investments.

The Senate Retirement Committee is scheduled to meet Monday, March 17, at 1:00 p.m. One bill on the agenda, SB 30, provides for LASERS technical corrections regarding spousal consent, survivors' benefits, and post-Deferred Retirement Option Plan (DROP) contribution rates. The LASERS Board of Trustees requested this bill.

The Public Retirement Systems Actuarial Committee (PRSAC) is scheduled to meet Tuesday, March 18, at 8:00 a.m. The system's valuation, which includes the rate of interest to be paid on eligible (non-Self Directed Plan) DROP accounts, will be presented for approval. Once PRSAC approves the interest rate, participants in the plan will be notified.

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

No comments: