Thursday, April 23, 2015

Legislative Update for April 23

The Senate Retirement Committee met Monday, April 20, 2015. LASERS Executive Director Cindy Rougeou and Teachers' Retirement System of Louisiana Maureen Westgard provided an educational overview of the Systems and fielded questions from committee members. 

One bill was heard that could impact LASERS if passed. SB 16, which clarifies provisions created in Act 399 of 2014 regarding excess investment earnings, employer contributions, and Cost-of-Living Adjustments (COLAs), was reported favorably with technical amendments.  This bill is supported by the LASERS Board of Trustees.           

SB 14which includes non-investment related administrative expenses in calculating the required employer contribution rate, was voluntarily deferred. The LASERS Board of Trustees is neutral on this bill.
The Senate Retirement Committee is not scheduled to meet the week of April 27.

The House Retirement Committee met Wednesday, April 22, 2015 and Cindy Rougeou provided an update on the System's actuarial valuation and investments.

HB 45, which provides that membership is optional for persons age sixty-two or older at the time of employment, consistent with the age sixty-two retirement eligibility for new hires after July 1, 2015, was favorably reported. The LASERS Board of Trustees is neutral on this bill. 

Please note that meeting schedules are subject to change. Check the LASERSwebsite daily for updates and for detailed information about proposed retirement legislation that may impact LASERS if passed.

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