Friday, May 29, 2015

Legislative Update as of May 29, 2015

The COLA bill, HB 42, sponsored by Representative Sam Jones, was passed on the House Floor with a vote of 80 to 20. The bill is scheduled to be heard by the Senate Retirement Committee on Monday, June 1 at noon. If passed, HB 42 would authorize a Cost-of-Living Adjustment (COLA) of up to 1.5 percent for eligible LASERS retirees and beneficiaries. The LASERS Board of Trustees supports this legislation.

HB 46, sponsored by Representative Reynolds, has now passed on the Senate and House Floors. This bill provides for survivor benefits for children of wildlife agents in the enforcement division of the Department of Wildlife and Fisheries. The LASERS Board is neutral on this legislation.

HB 800, sponsored by Representative Fannin, passed on the House Floor with a vote of 75 to 22. This bill appropriates surplus funds to LASERS to be applied to the Initial Unfunded Accrued Liability (IUAL) of the system, as required by the State Constitution. HB 800 now moves to the Senate Finance Committee for consideration.

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

View Senate and House Retirement Committee meetings here.

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