Tuesday, April 22, 2014

Legislative Update for April 22

House Passes HB 38:

HB 38, sponsored by Representative Pearson, passed in the House by a vote of 91-3. This bill, which excludes the Hazardous Duty Services Plan, would change retirement eligibility for new hires only on or after July 1, 2014 to five years of service at age 62. The LASERS Board of Trustees supports this legislation. The measure now moves to the Senate for action.

Upcoming Legislative Meeting Schedule:

The House Retirement Committee is scheduled to meet Thursday, April 24 upon adjournment. Five bills are on the agenda that would impact LASERS if passed:
  • SB 18, sponsored by Senator Guillory, provides a 1.5 percent COLA for eligible retirees, survivors, and beneficiaries. SB 18 passed unanimously on the Senate Floor. In order for the COLA to be effective, COLAs for the three other state retirement systems must also be approved. Additionally, the Senate added another contingency to granting of the COLA: passage of HB 1225 by Representative Robideaux (see below).
  • HB 64, by Representative Havard, provides that certain employees of the Eastern Louisiana Mental Health System are eligible for membership in the Hazardous Duty Services Plan. The LASERS Board of Trustees is neutral on this bill, if certain amendments are adopted.
  • HB 78, by Representative Montoucet, provides for additional and retroactive retirement benefits for adult probation and parole officers employed on or before December 31, 2001. The LASERS Board of Trustees opposes this bill.
  • HB 79, by Representative Pearson, provides for enrollment of new hires of the Harbor Police Department of the Port of New Orleans in the Hazardous Duty Services Plan and for administration of the Harbor Police Retirement System by LASERS. The LASERS Board of Trustees supports this bill with the addition of certain amendments.
  • HB 1225, by Representative Robideaux, provides relative to payment of system liabilities, credits to the Experience Account, and payment of COLAs.

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

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