The House Retirement Committee is scheduled to meet tomorrow, May 14, and two bills will be considered that would impact LASERS if passed:
HB 42, sponsored by Representative Sam Jones, is known as the COLA bill. On May 6 the House of Representatives voted to have the Retirement Committee report the bill to the House for consideration. The committee previously deadlocked, with a 6-6 vote on a motion to report HB 42 to the full House. This bill is supported by the LASERS Board of Trustees and if passed, would authorize a Cost-of-Living Adjustment (COLA) of up to 1.5 percent for eligible LASERS retirees and beneficiaries. Because testimony was previously heard on the bill, additional testimony is not expected to be taken at this meeting.
SB 16, sponsored by Senator Elbert Guillory, passed on the Senate Floor with a vote of 33-1. SB 16 clarifies provisions created in Act 399 of 2014 regarding excess investment earnings, employer contributions, and COLAs. It is supported by the LASERS Board of Trustees.
Retirement Bill Updates:
HB 33, sponsored by Representative Berthelot, passed unanimously on the House Floor and was reported favorably by the Senate Environmental Quality Committee. This bill would increase littering fines and distribute 50 percent of the fines to the retirement system of the law enforcement agency issuing the citation. The LASERS Board supports HB 33, insofar as it reduces debt.
HB 46, sponsored by Representative Reynolds, passed unanimously on the House Floor. 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.
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.